USD 2.46 Billion
Cardless ATM Market Size, Share, and Growth Analysis
Cardless ATM Market Size, Share & Trends Analysis Report, By Type (On-site ATM, Off-site ATM, Others), By End User (Bank and Financial Institutions, Independent ATM Deployer), By Technology, By Region, And Segment Forecast, 2025-2032
Report ID:
SQMIG45F2207 |
Region:
Global |
Published Date: May, 2025
Pages:
184
|Tables:
89
|Figures:
69
Format -
Cardless ATM Market Insights
Global Cardless ATM Market Size was valued at USD 2.46 Billion in 2023 and is poised to grow from USD 2.72 Billion in 2024 to USD 6.18 Billion by 2032, growing at a CAGR of 10.8% during the forecast period (2025-2032). High demand for mobile banking, growing adoption of contactless transactions, expansion of ATM networks in developing countries, and supportive regulatory initiatives are promoting the demand for cardless ATMs.
As smartphones become ubiquitous, banks are integrating mobile apps with ATM networks to enable cardless transactions. Increasing preference for contactless and touch-free financial transactions among people are also expected to bolster the global cardless ATM market growth in the future. Emerging economies in Asia-Pacific, Africa, and Latin America are experiencing rapid growth in banking infrastructure, including expanded ATM networks, which also boosts sales of cardless ATMs. Governments and financial regulatory bodies are increasingly promoting digital banking and secure cash access methods thereby making cardless ATMs an attractive alternative.
On the contrary, limited consumer awareness and adoption, high costs of implementation and maintenance, cybersecurity concerns, and infrastructure limitations in rural areas are key constraints anticipated to impede the global cardless ATM market penetration across the study period and beyond.
What is the Role of Biometric Technologies in Advancing Cardless ATM Adoption?
Biometric authentication, including fingerprint, facial recognition, and iris scanning, is becoming a prevalent feature in cardless ATM transactions. This trend enhances security while offering frictionless user experience. As banks seek to eliminate fraud and reduce dependency on PINs or physical cards, biometrics provide a highly secure, tamper-resistant solution. Additionally, regulatory encouragement for secure banking is driving banks to invest in biometric infrastructure. This trend is reshaping ATM access protocols, particularly in regions emphasizing identity verification and secure digital banking.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Bank and Financial Institutions
Fastest Growth
Independent ATM Deployer
Growth Rate
10.8% CAGR
Global Cardless ATM Market ($ Bn)
Country Share for North America Region (%)
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Cardless ATM Market Segments Analysis
Global cardless ATM market is segmented by type, technology, end user, and region. Based on type, the market is segmented into on-site ATM, off-site ATM, and others. Based on technology, the market is segmented into Near-field Communication (NFC), Quick Response (QR) codes, and biometric verification. Based on end user, the market is segmented into bank and financial institutions and independent ATM deployer. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Which Type of Cardless ATMs are Highly Sought After?
Off-site ATMs are projected to account for the highest global cardless ATM market share going forward. Rising emphasis of financial institutions to expand their business scope has led to the deployment of multiple new off-site cardless ATMs. Increasing accessibility and service availability offered by these ATMs are also helping cement the dominance of this segment through 2032.
Meanwhile, the demand for on-site ATMs accounts for the second-largest share as per this global cardless ATM industry analysis. Reduction in transaction fees and availability of multiple banking services to boost consumer confidence are helping this segment generate new business scope.
Which End User is Slated to Spearhead the Demand for Cardless ATMs?
Banks and financial institutions are forecasted to spearhead the global cardless ATM market revenue generation potential in the future. Growing emphasis of financial institutions on improving user experience and convenience is promoting the adoption of cardless ATMs via this segment. Increasing efforts to enhance financial inclusion by banks are also projected to help bolster the dominance of this segment in the long run.
On the other hand, the demand for cardless ATMs for independent ATM deployers is slated to rise at a robust pace in the future. Advancements in fintech innovation and entry of multiple new startups in financial industry are helping this segment generate new opportunities for cardless ATM providers.
Global Cardless ATM Market By End User
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Cardless ATM Market Regional Insights
Why North America Leads Cardless ATM Adoption on a Global Level?
The presence of advanced banking infrastructure, high smartphone usage, and early adoption of digital banking technologies are helping North America lead cardless ATM adoption. Security concerns and a desire to prevent card fraud have led to widespread deployment of biometric and token-based authentication in ATMs. The presence of major fintech players and strong consumer demand for seamless digital experiences are bolstering the dominance of North America on a global level.
Cardless ATM Market in United States
Early adoption of cardless ATM by Bank of America, Wells Fargo, and JPMorgan Chase has positioned the United States as a leader in the North American region. High smartphone penetration, fintech integration, high digital literacy, and advanced cybersecurity frameworks are helping cement the dominance of this country going forward. Regulatory flexibility and consumer familiarity with digital banking solidify the country’s status as a cardless ATM innovator.
Cardless ATM Market in Canada
Increasing consumer trust in contactless technologies and high digitization of the banking infrastructure are driving the adoption of cardless ATMs in the country. Collaboration with fintech companies and rising use of mobile wallets are also expected to promote the demand for cardless ATMs in the long run. High emphasis of banks such as RBC and TD Canada Trust on enhancing consumer experience and convenience are also driving the popularity of cardless ATMs.
Why are Cardless ATM Companies Eyeing Investments in Asia Pacific?
Rapid smartphone penetration, mobile banking adoption, and expanding fintech ecosystems are making Asia Pacific the fastest growing market for cardless ATM providers. Government-backed financial inclusion programs and digital identity systems are also creating new opportunities for cardless ATM companies in this region. Strong fintech collaboration and favorable regulatory support are further solidifying Asia Pacific’s stance as a highly opportune region on a global level. The region’s growing middle class and increasing demand for convenient, cash-access solutions via mobile channels are also expanding the business scope for market players.
Cardless ATM Market in Japan
Demand for cardless ATM in Japan is predicted to rise at a steady pace over the coming years. Japan’s strong technological infrastructure supports biometric verification and mobile wallet integration. However, cash remains culturally significant, slightly slowing the transition. The presence of advanced hardware and high smartphone penetration positions Japan well for future expansion in cardless ATM usage across both urban and regional branches.
Cardless ATM Market in South Korea
Presence of a high-tech banking environment and government-backed digital initiatives make South Korea a highly rewarding country for cardless ATM companies. KB Kookmin and Shinhan are top banks in the country offering cardless and mobile-initiated withdrawals using QR codes, biometrics, and NFC. South Korean consumers are early adopters of fintech, with most users accessing banking services through mobile apps. The country’s dense ATM network, combined with strong digital literacy and mobile wallet penetration, is boosting revenue generation for cardless ATM providers.
How will Adoption of Cardless ATM Solutions Rise in Europe?
Presence of a strong digital banking landscape, stringent security regulations, and increasing contactless payment culture are supporting cardless ATM adoption in Europe. European banks prioritize user convenience and fraud prevention, fueling demand for cardless solutions using QR codes, biometrics, and NFC. Regulatory initiatives like PSD2 also encourage innovation in payment access and security. As consumers seek touch-free, tech-forward financial interactions, Europe remains at the forefront of deploying cardless ATM technology at scale.
Cardless ATM Market in Germany
Demand for cardless ATM in Germany is slated to rise at a gradual pace over the coming years. Cultural shift toward digital banking and fintech integration are emerging as key factors influencing the adoption of cardless ATMs in the country. Germany has traditionally been a cash-reliant economy but, the shift toward mobile apps and contactless payments is offering new business scope. Urban areas see faster rollout of cardless ATMs in Germany, while rural regions lag due to conservative banking habits.
Cardless ATM Market in United Kingdom
Presence of leading banks such as Barclays, HSBC, and Lloyds offering QR code and app-based withdrawals are helping United Kingdom emerge as a fast-growing market for cardless ATM providers. High smartphone penetration and advanced digital banking services are supplementing the adoption of cardless ATMs in the country. As digital transformation accelerates across the banking sector, the United Kingdom remains a leader in Europe for modern ATM services and cardless financial access solutions.
Cardless ATM Market in France
Growing digital banking usage and strong interest in contactless financial services are helping augment the demand for cardless ATMs in France. France is also investing in biometric authentication and real-time mobile notifications for ATM access. Regulatory oversight under PSD2 enhances consumer trust. As mobile wallet adoption grows and urban ATM networks modernize, France is poised to see continued expansion in cardless ATM usage.
Global Cardless ATM Market By Region
- Largest
- Fastest
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Cardless ATM Market Dynamics
Cardless ATM Market Drivers
Demand for Enhanced Security and Fraud Prevention
- Cardless ATMs provide greater security compared to traditional card-based systems, helping to combat common fraud types like card skimming and cloning. By eliminating the need for physical cards, these systems reduce vulnerabilities tied to magnetic strips or chip-based transactions. These ATMs use authentication methods such as biometrics, mobile tokens, and one-time passcodes to enhance security and boost the global cardless ATM market outlook.
Convenience and Speed of Transactions
- Cardless ATMs significantly enhance user convenience by enabling quick, card-free withdrawals via mobile devices. Users can initiate transactions remotely, reducing ATM wait times and improving service efficiency. This fast, frictionless experience is especially appealing to tech-savvy and time-conscious consumers. As consumer expectations shift toward seamless digital experiences, cardless ATMs align with on-the-go lifestyles, encouraging broader adoption. This streamlined access to cash boosts customer satisfaction and supports banking efficiency initiatives.
Cardless ATM Market Restraints
Limited Consumer Awareness and Adoption
- Despite technological readiness, consumer awareness about cardless ATM functionality remains low in several regions. Many users are unfamiliar with mobile-based withdrawal processes, QR code scanning, or biometric ATM access. Fear of new technologies or perceived complexity can hinder adoption. Older demographics and rural populations are especially reluctant to move away from traditional ATM cards, which is expected to inhibit the adoption of cardless ATMs as per this cardless ATM market forecast.
Cybersecurity and Data Privacy Concerns
- As cardless ATMs rely heavily on mobile apps, biometric data, and cloud-based systems, they introduce new cybersecurity risks. Data breaches, hacking attempts, and mobile malware can compromise user accounts or transaction integrity. Concerns around biometric data privacy and secure OTP transmission are rapidly rising among consumers. Without sufficient cybersecurity measures, the credibility and adoption of cardless ATM technologies may be compromised in the future.
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Cardless ATM Market Competitive Landscape
Cardless ATM providers should invest in launching new cardless ATMs to enhance convenience for their customers. Integration of advanced authentication technologies can also help companies offer new features and boost their business scope as per this cardless ATM market analysis. Cloud-based infrastructure for cardless ATM is expected to be highly popular in the long run.
New companies focusing on cardless ATM are trying to target new audiences and integrating new technologies to stand out from the competition. Here are a few startups that are changing the future of cardless ATM.
- Pin4: The United States-based startup offers a cardless cash solution that allows users to withdraw money from ATMs using just a mobile phone and a secure PIN. The 2016-founded company is operational across a wide network of ATMs in the United States., providing a flexible and secure way to send and receive money via SMS or mobile apps. The startup is especially useful for emergency cash, gig economy payouts, and marketing campaigns.
- Kard: The 2016-founded mobile banking startup designed for teenagers, offers a digital wallet and app with cardless ATM withdrawal capabilities. Though primarily focused on youth financial literacy and digital banking, Kard’s infrastructure supports cardless cash access and digital-first transactions. It reflects the broader European trend of offering secure, mobile-native banking tools integrated with ATMs.
Top Player’s Company Profiles
- Axis Bank
- Abu Dhabi Islamic Bank
- Hitachi Payment Services
- Wells Fargo
- NCR Corporation
- GRG Banking
- HSBC Bank A.S.
- Citigroup Inc.
- Barclays Bank PLC
- Fujitsu
- Santander Group
- ICICI Bank Ltd.
- JPMorgan Chase & Co.
Recent Developments in Cardless ATM Market
- In April 2025, Abu Dhabi Islamic Bank (ADIB), a renowned Islamic finance organization from the UAE announced the launch of its new Cardless Cash Withdrawal feature through the ADIB Mobile App. The feature allows customers to quickly withdraw cash from ADIB ATMs without the need for a physical debit card.
- In February 2025, Hitachi Payment Services, a subsidiary of Japanese organization Hitachi Limited announced the launch of a new UPI-ATM in collaboration with National Payment Corporation of India (NPCI). The Hitachi Money Spot UPI ATM is a White Label ATM (WLA) with a daily cash withdrawal limit is Rs 10,000.
- In September 2024, Axis Bank, a leading private sector bank from India announced the launch of a new UPI-ATM for cardless cash withdrawal and deposits. The bank launched this new offering at the GFF event along with Bharat Connect, to help businesses manage their working capital needs in collaboration with NPCI’s Bharat BillPay Limited (NBBL).
Cardless ATM Key Market Trends
- Deployment of Cloud-Based ATM Infrastructure: Banks and ATM manufacturers are increasingly shifting toward cloud-based infrastructure to support cardless ATM operations. Cloud integration enables real-time transaction processing, centralized monitoring, remote updates, and enhanced data security. Cloud-based ATMs are more adaptable to evolving customer expectations and regulatory requirements. This cardless ATM market trend allows for faster deployment of new features, such as mobile app integration, biometric services, and fraud detection algorithms.
- Integration with Mobile Wallets and Digital Payment Apps: Cardless ATMs are increasingly integrating with mobile wallets such as Apple Pay, Google Pay, Paytm, and other regional payment apps to offer seamless and contactless cash withdrawal options. Users can initiate a withdrawal directly from their mobile wallet and authenticate using biometrics or QR codes, removing the need for debit cards. This cardless ATM industry trend aligns with the global shift toward cashless and mobile-centric financial ecosystems.
Cardless ATM Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing adoption of mobile banking and rising demand for contactless transactions are slated to primarily drive the demand for cardless ATM going forward. However, cybersecurity risks and limited consumer awareness and adoption are expected to slow down the sales of cardless ATM in the future. North America is forecasted to emerge as the leading market for cardless ATM providers owing to the advanced banking infrastructure and early adoption of digital banking technologies. Integration with mobile wallets and deployment of cloud-based ATM infrastructure are slated to be key trends driving the cardless ATM sector in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.46 Billion |
| Market size value in 2032 | USD 6.18 Billion |
| Growth Rate | 10.8% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cardless ATM Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cardless ATM Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cardless ATM Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cardless ATM Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cardless ATM Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cardless ATM Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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