Middle East & Africa Cardless ATM Market Outlook, 2031
The Middle East & Africa Cardless ATM Market is segmented into By Technology Type (Near-field Communication [NFC], Quick Response [QR] Codes, Biometric Verification, OTP / Token Based, Other); By Deployment Type (On-site ATMs, Off-site ATMs, Other [White-label / Independent ATM Deployers]); By End User (Bank Customers [Retail], Corporate Customers, Under-Banked Population).
- Bonafide Research
- 14-02-2026
- Pages : 76
- Figures : 6
- Tables : 17
- Region : MEA
- Category : Banking & Finance
- Semiconductor & Electronics
Middle East and Africa Cardless ATM Market is expected to grow above 11.46% CAGR, driven by fintech adoption and mobile wallet integration.
- Historical Period2020-2024
- Base Year2025
- Forecast Period2026-2031
- CAGR (2026-2031) 11.46%
- Largest MarketSaudi Arabia
- Fastest Market United Arab Emirates
- Format
Featured Companies
- 1. Hyosung Corporation
- 2. Fiserv, Inc.
- 3. Fidelity National Information Services, Inc.
- 4. Barclays plc
- 5. Euronet Worldwide, Inc.
- 6. Diebold Nixdorf, Incorporated
- More...
Market Analysis
The cardless ATM market in the Middle East and Africa (MEA) has seen notable growth over the past few years as financial institutions and ATM manufacturers work to introduce more flexible and secure withdrawal options for consumers. Originally, ATMs required physical cards to access funds, but cardless technology has evolved with the surge in digital banking, offering users the ability to withdraw cash using just a mobile device. This evolution is closely tied to the region's digital transformation, especially as mobile payments and fintech services gain traction. Companies like Emirates NBD in the UAE have led the charge in offering cardless cash withdrawal services, while banks like First Bank of Nigeria have also rolled out similar capabilities. The adoption of cardless ATMs is closely linked to growing mobile banking usage across MEA, particularly with the widespread availability of smartphones. As a result, financial institutions such as Standard Bank in South Africa have integrated mobile apps into ATM systems, enabling transactions without physical cards, and allowing for a smoother, more secure user experience. This shift also comes with a rise in security concerns, and so institutions have adopted multi-factor authentication mechanisms to reduce fraud risks. For example, the National Bank of Egypt has implemented biometrics and PIN verification processes to ensure user identity is securely validated before any transactions. The regional landscape is increasingly seeing partnerships between banks, fintech providers, and ATM vendors to enhance the interoperability of these systems. With countries like Kenya pushing for greater financial inclusion, cardless ATMs are seen as an important tool in reaching underserved populations. The continuous evolution of ATM technology and the convergence of mobile banking are set to accelerate the adoption of cardless systems across the region, offering more accessible, reliable, and secure cash withdrawal solutions for a diverse range of users. According to the research report, "Middle East and Africa Cardless ATM Market Outlook, 2031," published by Bonafide Research, the Middle East and Africa Cardless ATM market is anticipated to grow at 11.46% CAGR from 2026 to 2031. In recent years, key stakeholders in the MEA region have accelerated the development of cardless ATM systems. For instance, in the UAE, Mashreq Bank collaborated with NCR Corporation to introduce contactless and cardless cash withdrawals. This partnership enabled customers to use their smartphones for authentication and access ATM services without a physical card, marking a major step forward in the UAE's drive for digitization. Similarly, in Kenya, Safaricom’s M-Pesa has played a pivotal role in enabling mobile-driven financial services, making cardless ATMs accessible to millions who rely solely on mobile phones for financial transactions. This aligns with the broader movement of financial inclusion, particularly in remote areas where traditional banking infrastructure is limited. ATM providers like Diebold Nixdorf and Wincor Nixdorf are also adapting their hardware to support these innovations, allowing for seamless integration with mobile apps and enhancing the scalability of cardless systems across different markets in Africa. In South Africa, a notable shift towards mobile-integrated cardless ATMs has been observed, with banks like ABSA leading the way in deploying machines that sync with mobile banking platforms. The evolving security frameworks for these transactions are also significant; for example, Standard Bank recently implemented end-to-end encryption and multi-factor authentication to ensure the protection of cardless withdrawals.
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Download SampleMarket Dynamic
Market Drivers: • Mobile Penetration Growth:The rapid increase in mobile phone usage across MEA is a key driver of cardless ATM adoption. According to GSMA, mobile penetration in Sub-Saharan Africa reached 47% in 2020, and smartphone adoption is continuing to climb. This provides a vast user base for mobile-driven financial services, including cardless withdrawals. Mobile banking apps, integrated with ATMs, offer more accessible and secure options for consumers, particularly in underserved areas where traditional banking is limited. • Financial Inclusion Efforts:In countries like Kenya and Nigeria, financial inclusion has become a priority for both governments and banks. Cardless ATMs help bridge the gap for individuals without traditional bank accounts or debit cards, particularly in rural areas. For instance, Kenya’s M-Pesa platform has empowered millions of unbanked individuals, and cardless ATM withdrawals are integral in expanding financial access without the need for physical cards, fostering a more inclusive banking ecosystem. Market Challenges: • Security Concerns:Despite the convenience, security risks remain a significant challenge. Cardless ATM systems are vulnerable to cyberattacks, especially in regions with low cybersecurity infrastructure. In South Africa, incidents of fraud and identity theft linked to mobile banking have raised concerns about the safety of cardless withdrawals. Banks must implement advanced security measures, such as multi-factor authentication and encryption, to mitigate risks and build consumer trust in these systems. • Infrastructure Limitations:In certain parts of MEA, especially in rural and semi-urban areas, outdated ATM infrastructure and poor connectivity hamper the widespread adoption of cardless systems. For instance, Egypt and Sudan still face challenges in upgrading legacy ATMs to support mobile integration. This lack of infrastructure can limit the effective deployment of cardless ATMs and slow the adoption process, particularly in markets with limited technological resources. Market Trends: • Biometric Authentication Growth:Biometric verification is gaining traction as a way to enhance security in cardless ATM transactions. In markets like the UAE, banks like Emirates NBD are integrating fingerprint and facial recognition technology to authenticate cardless withdrawals, reducing the risk of fraud. This trend is expected to spread throughout the MEA region as banks prioritize more secure and seamless user experiences. • ATM-less Cash Dispensers:An emerging trend in MEA is the move toward ATM-less cash dispensing, where transactions occur directly via mobile apps and blockchain technology. For example, countries like South Africa are experimenting with mobile-led solutions where ATMs may become redundant. This evolution supports the broader trend of reducing physical infrastructure and advancing digital-first cash access models to increase convenience and reduce operational costs for banks.
Segmentation
| By Technology Type | Near-field Communication (NFC) | |
| Quick Response (QR) Codes | ||
| Biometric Verification | ||
| OTP / Token Based | ||
| Other | ||
| By Deployment Type | On-site ATMs (Bank branch) | |
| Off-site ATMs (malls, airports, metro stations, retail points) | ||
| Other (White-label / Independent ATM Deployers (IAD locations)) | ||
| By End User | Bank Customers (Retail) | |
| Corporate Customers | ||
| Under-Banked Population | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa | ||
NFC offers a secure, seamless, and convenient payment experience that is driving its adoption in cardless ATMs across the region. Near-field communication (NFC) technology has quickly emerged as a leading force in the Middle East and Africa’s cardless ATM market due to its ability to deliver contactless, fast, and secure transactions. With NFC-enabled smartphones, users can authenticate and withdraw cash from ATMs without the need for physical cards. This method is becoming increasingly attractive as consumers prioritize convenience and security. In many regions, including the UAE and Saudi Arabia, NFC technology aligns perfectly with the push for digital transformation, reducing the reliance on physical bank cards and improving user experiences. The growing reliance on mobile phones for everyday transactions is a driving factor, and NFC enables consumers to complete ATM withdrawals using only their smartphones. Banks like Emirates NBD in the UAE have implemented NFC technology in their ATMs to streamline the withdrawal process, making it quicker and safer by eliminating the need for users to insert their cards and expose them to potential theft. Moreover, NFC offers enhanced security features, such as encryption and tokenization, which protect sensitive customer data. This security aspect is particularly important in markets where cybersecurity concerns are heightened, as the ease of use and the reduced physical interaction help prevent fraud risks commonly associated with traditional card-based withdrawals. NFC’s growth also aligns with regional trends toward contactless payments in retail environments, making the transition to cardless ATMs a natural next step in the evolution of banking services. Off-site ATMs are gaining traction due to their high convenience, accessibility, and ability to serve customers at locations where they need them most. Off-site ATMs in locations such as shopping malls, airports, metro stations, and retail points are rapidly becoming the preferred option in the Middle East and Africa, largely because they are strategically positioned in high-traffic areas that cater to both local and international customers. These locations provide immediate access to cash for a wide range of consumers, from tourists needing currency exchange at airports to commuters withdrawing funds at metro stations. The ease of access and 24/7 availability make these off-site ATMs essential for meeting the growing demand for cardless transactions in the region. For example, in countries like South Africa and the UAE, off-site ATMs at popular locations are now integrating cardless withdrawal options, enabling consumers to use their mobile phones for transactions. Airports like Dubai International and King Khalid International in Riyadh are key examples of high-volume hubs where cardless ATMs are installed, making the banking experience smoother for travelers. These ATMs benefit from the increasing adoption of mobile banking, especially for individuals who don’t carry physical cards or prefer using their phones for everyday financial tasks. Off-site installations are becoming more cost-effective due to their ability to cater to diverse groups of people while reducing the physical space and operational costs associated with on-site branches. As the region continues to prioritize digital convenience, off-site ATMs are expected to play a critical role in shaping the future of banking and cash access, enabling customers to perform transactions easily from locations they visit regularly. Bank customers (retail) are the largest end-user group in the cardless ATM market because of their broad usage patterns and the growing shift toward digital-first banking services. Retail bank customers are leading the way in cardless ATM adoption across the Middle East and Africa, primarily because they form the majority of the banking customer base and are increasingly turning to digital solutions for everyday financial needs. Retail consumers are the main users of ATMs, and as digital banking services expand, these customers are transitioning to more efficient and secure alternatives, such as cardless transactions. In markets like Kenya, Egypt, and Saudi Arabia, retail consumers are increasingly using their smartphones for banking transactions, including cardless withdrawals, as part of the broader trend toward mobile-first financial services. Many banks are incentivizing this shift by offering enhanced digital banking features that integrate seamlessly with cardless ATM systems. For example, banks like Standard Chartered in Dubai and First Bank of Nigeria are targeting retail clients with mobile apps that not only support cardless withdrawals but also provide other value-added services such as balance inquiries and mini-statements. With cardless ATMs, retail bank customers no longer need to worry about losing their physical cards or carrying multiple cards for different accounts. The ease of access and heightened security features, such as biometric authentication, are appealing to a growing number of tech-savvy consumers who prefer conducting their financial transactions on the go. The increasing adoption of mobile banking among retail customers is further accelerated by the push for financial inclusion in underserved areas, where traditional banking infrastructure may not be as readily available.
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Market Regional Insights
Saudi Arabia is leading in the cardless ATM market due to its advanced technological infrastructure, high smartphone penetration, and government-backed financial initiatives. Saudi Arabia has emerged as a frontrunner in the Middle East’s cardless ATM market due to its strong focus on technological advancement and digital banking solutions. The country’s Vision 2030 initiative has accelerated the adoption of innovative technologies in various sectors, including banking. As part of this initiative, Saudi Arabia has pushed for greater financial inclusion and the modernization of its financial services, which aligns with the adoption of cardless ATMs. High smartphone penetration, with over 90% of the population owning smartphones, has further supported the transition to mobile-driven banking services. Additionally, Saudi banks like Al Rajhi Bank and the National Commercial Bank have integrated cardless transaction features into their ATM networks, making it easier for customers to access funds without needing a physical card. The central bank of Saudi Arabia, Saudi Arabian Monetary Authority (SAMA), has been instrumental in promoting digital payment solutions, providing a regulatory framework that facilitates the seamless rollout of cardless ATM systems. Moreover, the country’s high standard of mobile network infrastructure, including fast internet connectivity, ensures that cardless transactions can be completed quickly and securely. The growing shift toward mobile payments, driven by young, tech-savvy consumers and supported by government initiatives, positions Saudi Arabia as a leader in the region for cardless ATM technology. The focus on innovation, combined with government and banking sector support, has made the country a key player in this market, providing an environment where digital banking solutions, including cardless ATMs, can thrive.
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Companies Mentioned
- Hyosung Corporation
- Fiserv, Inc.
- Fidelity National Information Services, Inc.
- Barclays plc
- Euronet Worldwide, Inc.
- Diebold Nixdorf, Incorporated
- NCR Atleos
- Samsung SDS Co. Ltd.
Table of Contents
- 1. Executive Summary
- 2. Market Dynamics
- 2.1. Market Drivers & Opportunities
- 2.2. Market Restraints & Challenges
- 2.3. Market Trends
- 2.4. Supply chain Analysis
- 2.5. Policy & Regulatory Framework
- 2.6. Industry Experts Views
- 3. Research Methodology
- 3.1. Secondary Research
- 3.2. Primary Data Collection
- 3.3. Market Formation & Validation
- 3.4. Report Writing, Quality Check & Delivery
- 4. Market Structure
- 4.1. Market Considerate
- 4.2. Assumptions
- 4.3. Limitations
- 4.4. Abbreviations
- 4.5. Sources
- 4.6. Definitions
- 5. Economic /Demographic Snapshot
- 6. Middle East & Africa Cardless ATM Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Technology Type
- 6.4. Market Size and Forecast, By Deployment Type
- 6.5. Market Size and Forecast, By End User
- 6.6. United Arab Emirates (UAE) Cardless ATM Market Outlook
- 6.6.1. Market Size by Value
- 6.6.2. Market Size and Forecast By Technology Type
- 6.6.3. Market Size and Forecast By Deployment Type
- 6.6.4. Market Size and Forecast By End User
- 6.7. Saudi Arabia Cardless ATM Market Outlook
- 6.7.1. Market Size by Value
- 6.7.2. Market Size and Forecast By Technology Type
- 6.7.3. Market Size and Forecast By Deployment Type
- 6.7.4. Market Size and Forecast By End User
- 6.8. South Africa Cardless ATM Market Outlook
- 6.8.1. Market Size by Value
- 6.8.2. Market Size and Forecast By Technology Type
- 6.8.3. Market Size and Forecast By Deployment Type
- 6.8.4. Market Size and Forecast By End User
- 7. Competitive Landscape
- 7.1. Competitive Dashboard
- 7.2. Business Strategies Adopted by Key Players
- 7.3. Porter's Five Forces
- 7.4. Company Profile
- 7.4.1. NCR Atleos
- 7.4.1.1. Company Snapshot
- 7.4.1.2. Company Overview
- 7.4.1.3. Financial Highlights
- 7.4.1.4. Geographic Insights
- 7.4.1.5. Business Segment & Performance
- 7.4.1.6. Product Portfolio
- 7.4.1.7. Key Executives
- 7.4.1.8. Strategic Moves & Developments
- 7.4.2. Diebold Nixdorf, Incorporated
- 7.4.3. Hyosung Corporation
- 7.4.4. Barclays PLC
- 7.4.5. Euronet Worldwide, Inc.
- 7.4.6. Fidelity National Information Services, Inc.
- 7.4.7. Fiserv, Inc.
- 7.4.8. Samsung SDS Co. Ltd.
- 8. Strategic Recommendations
- 9. Annexure
- 9.1. FAQ`s
- 9.2. Notes
- 9.3. Related Reports
- 10. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2024
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Middle East & Africa Cardless ATM Market Size and Forecast, By Technology Type (2020 to 2031F) (In USD Billion)
Table 6: Middle East & Africa Cardless ATM Market Size and Forecast, By Deployment Type (2020 to 2031F) (In USD Billion)
Table 7: Middle East & Africa Cardless ATM Market Size and Forecast, By End User (2020 to 2031F) (In USD Billion)
Table 8: United Arab Emirates (UAE) Cardless ATM Market Size and Forecast By Technology Type (2020 to 2031F) (In USD Billion)
Table 9: United Arab Emirates (UAE) Cardless ATM Market Size and Forecast By Deployment Type (2020 to 2031F) (In USD Billion)
Table 10: United Arab Emirates (UAE) Cardless ATM Market Size and Forecast By End User (2020 to 2031F) (In USD Billion)
Table 11: Saudi Arabia Cardless ATM Market Size and Forecast By Technology Type (2020 to 2031F) (In USD Billion)
Table 12: Saudi Arabia Cardless ATM Market Size and Forecast By Deployment Type (2020 to 2031F) (In USD Billion)
Table 13: Saudi Arabia Cardless ATM Market Size and Forecast By End User (2020 to 2031F) (In USD Billion)
Table 14: South Africa Cardless ATM Market Size and Forecast By Technology Type (2020 to 2031F) (In USD Billion)
Table 15: South Africa Cardless ATM Market Size and Forecast By Deployment Type (2020 to 2031F) (In USD Billion)
Table 16: South Africa Cardless ATM Market Size and Forecast By End User (2020 to 2031F) (In USD Billion)
Table 17: Competitive Dashboard of top 5 players, 2025
Figure 2: Middle East & Africa Cardless ATM Market Share By Country (2025)
Figure 3: United Arab Emirates (UAE) Cardless ATM Market Size By Value (2020, 2025 & 2031F) (in USD Billion)
Figure 4: Saudi Arabia Cardless ATM Market Size By Value (2020, 2025 & 2031F) (in USD Billion)
Figure 5: South Africa Cardless ATM Market Size By Value (2020, 2025 & 2031F) (in USD Billion)
Figure 6: Porter's Five Forces of Global Cardless ATM Market
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