The demand for ATM bank receipts is decreasing. Why does this happen?
As the popularity of smart phones, mobile payment grows at a high speed in China. AliPay and Wechat Pay are the two giant companies controlling the industry. The society, especially for China, becomes cashless. I can pay all bills through Alipay or Wechat Pay. Even when I buy some fruits, the fruit vendor offers a QR code to charge money. We just scan this QR code by AliPay or Wechat Pay, and payment is done in few seconds. I suddenly notice I haven’t touch my wallet for a long time.
It’s cashless now and there’s no need to withdraw money from ATM of banks. The demand for bank receipts drops.
AliPay and Wechat Pay are now seeking for overseas market.
Though the demand is decreasing, it won’t disappear for a long time. Banks now need custom printed ATM receipt paper for marketing. The receipt can be printed with bank logo, promotion and other advertisements.