I think that the banks will not have to refill the ATMs as frequently if cash withdrawn declines. Banks shouldn’t really reduce the cash they put in an ATM. Also, the value of ATMs to a bank will decline if their end customers aren’t using them as often.
Their managed services are also centered around ATMs. I am not doubting growth for coming 1 or 2 years as they have yet to gain the market share of ATMs under their surveillance.
The low valuations of this company are possibly due to low terminal value.
disc: Not invested, yet.
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