Convenience retail chain 7-Eleven is planning to reduce the number of ATMs available across its store portfolio in Australia.
The decision is in response to the changing behaviour of customers, with many opting to pay for their purchases through debit cards or other electronic payment methods, News.com.au has reported.
The retailer operates more than 750 stores across the Australian Capital Territory, New South Wales, Queensland., Victoria and Western Australia.
News.com.au quoted the retailer as saying: “As our offer evolves, some ranges and services are removed to provide room for new and high-demand offers.
“We are reducing our ATM footprint to respond to changing customer needs, although some stores will continue to provide ATM facilities.”
Several other supermarket chains in the country have also started reducing withdrawal limits.
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In September 2023, Woolworths reduced cash withdrawal limits across stores in response to the changing customer payment habits.
These decisions are part of Australia’s transition into a cashless society.
A report by the Australian Banking Association found that cash accounted for only 13% of consumer payments in the country at the end of 2022 – a drop from 70% in 2007.
In December 2023, Japanese retail conglomerate Seven & i Holdings announced the acquisition of the 7-Eleven franchise in Australia for A$1.71bn ($1.15bn).