Getting cash from an ATM is considered a service transaction.
This is when cash or payments are exchanged for a job rendered, which usually involves a third party. Here, the contact and interaction with customers are usually real time.
In a service transaction, a task is performed for customers in exchange for payment whereas goods are exchanged only for payment in a retail transaction. A transaction service refers to a third party service provided by a professional services firm when a business transaction takes place and it involves payment.
Usually, people make use of the automated teller machine to withdraw cash rather than entering the physical banking hall. ATMs are convenient, allowing consumers to perform quick self-service transactions such as deposits, cash withdrawals, bill payments, and transfers between accounts
Learn more about service transaction here: https://brainly.com/question/24553900
#SPJ1
