Forget the Banks: Digital Wallet and Virtual ATM Technologies Tap an Enormous Underbanked and Underserved Market

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After more than 50 years of dominating retail banking, ATMs might finally be on their way out—and a new force of disruption pushing its way in. The global rise in mobile payment platforms such as PayPal Holdings (NASDAQ:PYPL)’s Venmo and Square, Inc. (NYSE:SQ)’s Cash app has led to a steady decline in automated teller machines (ATMs) around the world. This has impacted traditional ATM companies such as NCR (NYSE:NCR) and Fiserv (NASDAQ:FISV). Whereas banks are now trying to keep up by rolling out ATMs with increased capabilities and “eATMs” featuring tablet-like screens and cardless access, a Mark Cuban-invested …

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