While most consumers are flush with credit and debit cards, recent studies show that cash transactions are still the public’s preferred mode of payment. Consequently, businesses in Denver that have installed ATM machines are enjoying a significant increase in sales and profits when compared to businesses void of an ATM.
Benefits of an ATM machine inside your business
Because cash is the preferred mode of payment, an ATM on your premises provides convenience for both you and your customers. The more customers who can pay you in cash, the less transaction fees you incur from card purchases. Additionally, an in-store ATM at your Denver enterprise reduces the possibility of receiving bad or fraudulent checks. All told, it helps improve your bottom line.
An ATM inside your store usually increases your business volume. By the convenience it offers customers, your ATM can definitely increase foot traffic. Studies show that 25 percent of those who withdraw money from an ATM inside a store are more likely to purchase the withdrawn money from the same store. The percentage increases even more if the business is a restaurant, casino, nightclub, or bar.
Furthermore, whether your visitors do or do not buy at your store, their use of your ATM results in an ATM fee credited to your business.
Lastly, a newly installed ATM machine can ultimately build your customer base, according to studies showing that an average American conducts an ATM transaction at least 10 times a month. Such repeated visits increase the chances of on-site purchases.
Two options for installing an ATM Machine
If you can afford it, you can opt to buy an ATM machine. By buying an ATM machine, however, you must shoulder the burden of managing everything, from maintenance to loading currency. In return, however, you keep 100% of the surcharge.
If you prefer a hassle-free approach, you can opt for an ATM installation wherein an independent operator provides the machine and manages everything for you. In turn, you must share a percentage of the ATM profits.
You can also opt for an ATM rental or partnership, which means an ATM operator equally splits the surcharge with you. Most businesses tend to start with a partnership before trying to buy a machine and manage it themselves.
If you are more than ready to install an ATM machine for your business, contact a reputable ATM machine service provider to get started.
Increase Sales and Grow Your Business with an ATM, slideshare.net
ATMs Provide Boost to Small Business, brcconsumerbehaviour.com