09/24/2022
Would you benefit from placing an ATM in your place of business? Most Definitely! Here are 3 reasons you want an ATM in your store:
1. No Credit Card Fees
When a customer uses an ATM, it doesn't cost you a thing. ATMs don't charge you a swipe fee or a transaction fee -- they charge the person withdrawing the money. However, once your customer has cash, he's more likely to use it to buy from you than to use his credit card. This can reduce both your swipe fees and your merchant discount.
2. Generating Traffic
When an ATM is in a publicly-accessible location like a hotel lobby or a convenience store, it can also generate traffic. When a business has someone come in to use the ATM, it gains the opportunity to convert them into a customer for other goods or services. Strategically positioning the ATM to draw the customer into the store can increase the success rate of this strategy.
3. Higher Sales
For cash-dependent businesses that operate by having their customers continually pay to be there, like many entertainment venues or bars, their ability to make money is directly related to how much money a customer has in his pocket. Having an ATM machine on-site allows that customer to keep spending money with little or no interruption. This doesn't just hold on to the customer. It also increases his average spending level. After all, if he's making a withdrawal from an ATM at your business, it's probably to spend money with you.
