EghtesadOnline: More than 3.7 billion transactions were processed via automated teller machines in the first eight months of the current fiscal year that ends in March.
The machines processed 450 million transactions a month on average but the month from April 21 to May 21 had the biggest share with 612 million transactions according to data released by the Central Bank of Iran, IBENA reported.
With 58,442 ATMs up until Nov. 21, the data indicates that each ATM on average processed 62,983transactions during the eight months, according to Financial Tribune.
Bank Melli Iran, the biggest lender and with the highest number of ATMs, recorded the most transactions during the period processing 814.8 million payments.
CBI data showed that Tehran Province's share of transactions was 817 million – or 22% of the total nation-wide transactions.
During the month heading to November 21, ATMs processed 436 million transactions worth 1,366 trillion rials . Given the number of ATM machines (58,442), each device on average processed 7,461 transactions during the month.
BMI led the number of transactions in the same month, processing 99 million transactions followed by Post Bank Iran and Bank Saderat Iran.
PIN Pad Transactions
Transactions handled by the in-branch PIN pads were worth 1,492 trillion rials during the month. About 71,133 PIN pads are installed in banks.
A PIN pad is a device similar to a Point of Sale (POS) device with the difference being that PIN pads are used in banks to help customers use banking services more ease.
In terms of transactions via PIN pads, BMI accounted for the most transactions, followed by BSI and Bank Mellat.
ATMs are the most popular and trusted banking technology in the country of 80 million people. A considerable number of bank customers rely on ATMs for banking services rather than other applications and online platforms.
Data indicates that banks installed more than 1,800 new devices over the past year to meet increasing demand for services out of the branches.
Top of the List
World Bank data shows that in 2017 there were 76.5 ATMs per 100,000 adult population in Iran, placing it on the top of the list of the countries with the highest number of ATMs in the MENA region. The figure for MENA region was 40.7 ATMs in 2017.
According to the global lender’s data, there were 43.5 ATMs per 100,000 adult population in the world. Canada had the largest number with 227.8 sets per 100,000 adults followed by San Marino (182.9) Portugal (168).
South Sudan and Afghanistan had the lowest number of ATMs in 2017 with 0.4 and 1.3 set per 100,000 adult population.
In terms of income, the WB survey showed that there were a larger number of ATMs per 100,000 people in high income countries compared with those at the lower end of the economic ladder. High income countries had 65.3 ATMs per 100,000 adults while the lowest income countries had 24.2 ATMs in 2017.
Britain, Germany, and France had the highest number of machines in the Euro region during the period under review.