While many customers use credit and debit cards when paying for goods and services, for many people, cash is still king. That’s especially true if you’re selling lower-priced items, staples, and snacks.
ATM benefits include increased sales and increased traffic. When you have an ATM on your site, word travels fast, and you’ll attract new customers and find your current customers coming in more often.
Customers value convenience, and the presence of an ATM means when they stop at your place of business to get some cash, they likely make a purchase at the same time. The average customer using an ATM on-site spends 25 percent more in the store location than customers using other forms of payment. If you own a bar or club, the percentage is much greater. An amazing 75 percent of cash taken out from ATMs in such venues is spent right there.
An ATM on your premises gives you an advantage over your competitors. Not only does an ATM draw in more business, but you receive a percentage of each transaction. If you own your ATM, you’ll receive the entire fee, while if another company places the ATM in your store you’ll receive a slice of the fee.
Tired of paying those hefty debit and credit card processing fees? Even worse is the headache and expense of dealing with bounced checks, or chargebacks from credit card companies. That’s another ATM benefit – reduction in the amount of processing fees you pay as more customers pay in cash, and the ability to send those who want to pay by check to your ATM instead. An ATM in your store is a win-win for you and your customers.