The ATM Industry Association announced the establishment of a non-profit education and development foundation. The foundation, a charity, will finance business projects aimed at developing ATM industries in emerging and established markets, according to the news release.

The purpose of the foundation is to encourage growth in emerging ATM markets through training and funding assistance, as well as to further opportunities for reaching the underbanked and unbanked.

"The purpose of the EDF is to establish a fund and an assistance program for emerging ATM markets," said Lana Harmelink, ATMIA international director of operations. "(The goal is) to consolidate and maximize their ATM networks as a foundation for future growth in their installed base of ATMs and provide industry-wide customer education programs for financial management and financial security, especially for lower income groups."

Sharon Lane, ATMIA's director of finance, said the association also expects to use the fund to work with established markets "to reinforce the industry outreach to lower income groups and other unbanked segments of the population, such as students and teenagers and people in more remote rural areas."

The foundation will be funded by donations and dues, and an early priority will be industry customer education programs.