Romanian Banking Association: Only 15-20% of ATMs can be profitable

Only 15-20% of cash machine in Romania can be profitable, said Florin Danescu, executive chairman of the Romanian Banking Association. To be profitable, an ATM would require 1,500 transactions and a revenue of at least RON 3,000 (EUR 675) monthly. A cash machine’s profitability depends on its location and the number of transactions. The costs of an ATM are significant, but banks provide cash machines as special packages for clients. “It’s not necessary that every product be profitable,” said Danescu, cited by local Capital.ro. Romania currently has some 11,000 cash machines and 135,000 point-of-sale units (POS). At the end of 2014, the number of valid cards in circulation reached 14.5 million. Some 12.7 million were debit cards and 2.3 million, credit cards. editor@romania-insider.com