Despite consumers turning to credit and debit cards to make purchases in recent years, cash remains the most convenient and effective way for consumers to make purchases. Cash is also the most profitable payment method for merchants because there are no fees associated with cash.
Having an ATM in your business makes good business sense. Some of the benefits to merchants include:
- Additional Income
Depending on your location, your traffic patterns and the fees you set, having an ATM can easily pay for itself and provide you with additional income.
- Reduced Credit/Debit Card Fees
Credit cards companies charge as much as 2-3% of the total purchase price in fees. By providing your customers with easy access to cash and an incentive to use cash, you can reduce fees for credit and debit card transactions.
- Customer Convenience & Loyalty
By providing your customers with easy access to cash, you are also providing your customers with a convenience they will appreciate. Having an ATM on site is also a great way to increase traffic coming through your business and repeat customers.
- Increased Sales
Various studies have shown that having an ATM onsite can also increase merchant profits. Consumers who use ATM machines spend approximately 25-30% the money withdrawn in the business itself, according to ATMarketplace.
It’s a win-win proposition for merchants. Contact us today and find out how placing an ATM in your business makes good business sense.
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