SEOUL, Dec. 8 (Korea Bizwire) – The number of cash dispensers (CD) and automated teller machines (ATM) fell for a second straight year in 2015 on growing demand for Internet and mobile banking services, South Korea’s central bank said Thursday.
The Bank of Korea said the number of CDs and ATMs across the country came to 121,344 as of the end of 2015 after hitting an all-time high of 124,236 in 2013.
It said South Korea had 291 ATMs per 1,000 people — the world’s largest amount — as of the end of 2014. In comparison, the United States and Japan had 173 and 128 ATMs for per 1,000 people, respectively.
The decline in the number of CDs and ATMs came as an increasing number of South Koreans opt for Internet and mobile banking services.
In the three months ended Sept. 30, the number of Internet and mobile banking service users came to 120.7 million, up 1.4 percent from the previous quarter, according to the BOK.
The average number of daily transactions processed via the Internet, mobile banking and smartphones came to 87.9 million in the third quarter, up 1.9 percent from the previous quarter, while the average amount of money processed through such means dropped 1.7 percent to 41.65 trillion won (US$35 billion).