US-based enterprise technology provider NCR Corporation has extended its partnership with Kiwibank to run the bank’s ATM fleet through its ATM as a Service solution in New Zealand. Initially, Kiwibank partnered with NCR in 2014 to enhance the capabilities and performance of its ATMs through the company’s manager services and solutions.

Through this expansion, NCR will work on operational management and maintenance on both in-branch and offsite ATMs. The bank’s customers can access the current features and fee-free ATM transactions at Kiwibank ATMs. As of 2024, NCR’s Allpoint Network will be available for New Zealand customers, offering surcharge-free access to Allpoint ATMs at a national level.

According to officials, the collaboration is part of Kiwibank’s multi-year transformation of its products, services, and technology. Through the integration of ATM as a Service solution, the bank will be able to offer robust self-service transaction capabilities to customers in branch and out in the community. Moreover, the partnership solidifies the growth of NCR in the New Zealand market, the company’s objective being to aid financial institutions in optimising their physical ATM networks while also widening consumers’ access to cash.

NCR’s Allpoint Network of ATMs provides on-demand cash access solutions for banks, credit unions, prepaid programs, and fintechs. COVID-19’s impact on cash use According to the Reserve Bank of New Zealand’s report, the COVID-19 pandemic has decreased the transactional use of cash, intensified by the accelerating reductions in the bank’s branch and cash services. In 2020, approximately 70% of the population indicated that they use cash for daily payments, compared to 96% in 2019 and 2017.

From February 2020, the value of cash withdrawals has reduced by 20%, mostly due to the lack of demand from the New Zealand population and decreased tourism. Digital banking and contactless payments have increased acceptance, as contactless represent the preferred method for 36% of New Zealanders, and approximately 70% of individuals complete payments from their bank accounts. For individuals who continue to use cash as a payment method, 60% confirmed that they use it more than twice a week, while only 2% of the population identifies themselves as heavy cash users, in comparison to 5% in 2017.

More information about NCR NCR’s extended partnership with Kiwibank does not represent the company’s only collaboration for this year. At the beginning of August 2023, NCR partnered with the Bank of New Zealand (BNZ) to run its ATM fleet as part of its digital transformation. After providing support services for many years, NCR will now own and operate BNZ’s off-site, cash dispense ATM fleet and run the on-premises fleet of NCR SelfServ ATMs.

Moreover, in the same period, NCR partnered with Autobooks to integrate digital invoicing, payment acceptance, and accounting into NCR Digital Banking. Through this collaboration, financial institutions can provide a variety of unified payment and cash management solutions, tailored to the needs of small businesses. Back in April 2023, Payfare extended its partnership with NCR to support self-service financial solutions for cardholders in the US, both in cash in and cash out transactions.

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