CareCredit - Women's Health April 2024

Asda Picks NCR Atleos’ ATMs as Businesses Push Cash Use

British retailer Asda has picked NCR Atleos to bring new ATMs to its stores.

The collaboration, announced Monday (Nov. 27), means that Asda customers will soon be able to withdraw cash from Atleos machines at more than 600 stores.

“By implementing Atleos ATMs Asda will deliver a convenient cash access experience for our over 18 million weekly shoppers,” Neil Foster, head of Asda Money, said in a news release.

“Allowing simple access to cash and more services in the future is a top priority for us. We’re really excited about the Atleos vision on how to quickly introduce new innovation to further support our customers.”

NCR Atleos was birthed last month when technology services company NCR split into two independent, publicly traded companies: NCR Voyix, focused on digital commerce, and NCR Atleos, which is focused on ATMs.

Last month, Atleos teamed with PayNearMe, a payments company specializing in iGaming and sports betting, to boost cardless cash access for iGaming firms. As PYMNTS wrote, the solution is designed to make it easier for customers and players to get their winnings in cash, avoiding the challenges tied to traditional methods of accessing cash from a gaming app.

PYMNTS Intelligence has found nearly 90% of gamers receiving winnings payouts via cash are highly satisfied — more than any other other payment methods. Cash is also the most common form of instant payment for gaming, gambling or lottery payments, per “Generation Instant: Gaming and Winnings,” a collaboration between PYMNTS and Ingo Money.

However, many consumers don’t often carry cash, something a lot of businesses are working to change. As noted here last month, merchants are now offering discounts to customers who pay with cash as they try to avoid credit card transaction fees. 

A Wall Street Journal report, citing data from the Federal Reserve Bank of Atlanta, says that the share of cash purchases that included discounts leaped 66% between 2015 and 2022. Still, payment industry executives say most merchants are hesitant to offer cash discounts or surcharges so as not to turn off customers, as most consumers would prefer to pay using cards. 

In fact, PYMNTS Intelligence has found that 40% of U.S. consumers now carry cash solely out of habit, particularly baby boomers and seniors. A fifth of all consumers identified pointed to habit as the chief reason they carry paper currency.