The number of ATMs in the United States has grown to between 475,000 and 500,000, according to new data from the ATM Industry Association.

The trade group reported that the financial services industry has been adding more terminals after years of dealing with a struggling American economy, as well as the challenges of Windows upgrades and EMV migration. The data suggests that about 16% of the world's ATMs are in the United States.

"These numbers confirm what we have suspected in recent months," ATMIA U.S. Executive Director David Tente said. "There is growing recognition of the important role that ATMs play in our payments system, and alongside of it, in a new wave of branch transformation that is sweeping through the banking industry."

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