Mobile payment growth sparks decline in bank terminals.

The rapid growth of mobile payments in China has brought about a decline in bank self-service terminals including automatic, video and smart teller machines, initiating industry transformation.

By the end of 2018, the number of ATMs at banks nationwide dropped 17,800 quarter-on-quarter to 1.11 million. The average number of ATMs per 10,000 people also fell 1.6percent from the previous quarter to 7.99, stated the latest report on the overall operation of payment systems issued by the People's Bank of China, the central bank.

The decrease in ATM numbers triggered a decline in the performance of several companies principally engaged in the manufacturing, distribution and operation of such devices.

Beijing ATMVI Technology Co Ltd, a designer and manufacturer of kiosks, enclosures and housing for ATMs, disclosed preliminary earnings estimates on February 28, announcing that it posted a 32.52percent decrease in operating income year-on-year in 2018 and a 6.99 million yuan ($1.04 million) net loss attributable to shareholders of the company listed on the National Equities Exchange and Quotations.

"During the reporting period, the deployment of bank self-service terminals including ATMs kept slowing down due to the rapid development of mobile payments. It caused a slump in demand for related products and services of the company and a large decline in our business income," the company said.

Guangzhou Kingteller Technology Co Ltd, another major ATM manufacturer and operator in China, also...