Investigating the Viability of ATM Networks for Remittance Services

This technical summary examines the capacity of automated Teller machine (ATM) networks for presenting remittance services. To assess the viability of ATM networks as a remittance provider, an intensive overview of the present literature changed into carried out, along with a detailed exam of three case research from the United States, the United Kingdom, and the Philippines. The number one standards for the evaluation were the relevance of the look at modern-day worldwide remittance regulations, the value and prices involved in ATM remittance services, and the customer service and comfort associated with the usage of an ATM network for remittance transfers. Consequences from the evaluation suggest that ATM networks, even as nonetheless being regions of energetic exploration, have the potential to offer low-price remittance services, providing benefits of both velocity and comfort. However, there also are capacity safety and security concerns, in addition to additional costs associated with the hardware and software program necessary to facilitate ATM remittance offerings. Additionally, ATM remittance offerings still need to be made aware of the rules governing global remittance transfers that could significantly limit the scope and reach of ATM remittance offerings on an international scale. Ordinary, the review helps the concept that ATM networks are feasible for supplying remittance services. However, additional studies are needed to deal with the problems of price, protection, and regulatory compliance.