Why You Should Have an ATM Machine on Your Business Premises

Why You Should Have an ATM Machine on Your Business Premises

ATM machines provide unmatched convenience to consumers that wish to have easy access to cash. According to the 2019 Federal Reserve payments study, there were over 5.1 billion ATM transactions across the US in 2018 worth $800 billion. A National Cash Systems survey showed that ATM cardholders use them at least 8-10 times a month.

ATMs are quick and easy to use, typically without any long queues. Such convenience and efficiency make the purchase of an ATM machine for sale a smart decision. Here are seven benefits of installing an ATM Machine at your business.

1. Build Traffic

A survey by Transaction Network Services indicated that 78% of respondents felt it’s important to have access to cash. Purchasing an ATM machine for sale allows you to serve potential customers better by providing quick access to cash. You can increase foot traffic to your stores as more people walk in to withdraw money. An ATM within your location may allow your customers to combine banking and shopping in one trip.

2. Increased Sales

Up to 30% of the money withdrawn on an ATM is spent within the business premises that houses the machine. With the average ATM transaction being $60, you can leverage the ATM installation to net more revenue for your business through increased sales. Besides, on-screen advertising and coupon options may help you register more income receipts for your business.

3. Additional Income Stream

Buying an ATM machine for sale may also boost your business bottom line. You can earn extra income from the surcharges on customers taking money out of their accounts. In a pristine location, the fees collected may be enough for the ATM to pay for itself and provide you with a recurring income stream.

4. Reduce Credit Card Processing Fees and Chargebacks

A significant number of credit card users prefer to pay in cash if given the opportunity. Buying ATMs for your business decreases the processing fees that you may have to pay. The switchover to cash can save you an average of $0.80 per transaction, providing more savings to your business. Additionally, customers who pay in cash reduce the risk of check disputes and chargebacks, preserving your profits.

5. Convenience

An ATM can help increase your competitive edge by building customer loyalty. Your target customers will not have to walk out of your establishment to the ATM down the street and potentially not return. Customers can find a one-stop solution to accommodate their cash needs, increasing customer retention.

6. Increase Customer Loyalty

A recent survey highlighted that a significant percentage of ATM users never leave the location where they withdraw money. Having an ATM at your business premises can provide a convenient service to your customers and further improve their loyalty. This is through offering them easy access to cash as well as using those ATMs with on-screen advertising for marketing promotions, coupons, or other offers.

7. Flexible ATM Plans

You can enjoy flexible ownership programs that make it feasible to buy the ATM machine for sale. You can opt for a direct sale, lease, or rent-to-own program. A direct purchase allows you to own and operate the ATM, keeping 100% of the surcharge revenue. You can tailor the lease and rent-to-own programs to fit your budgetary needs, driving in more customers and revenue for your business.

An ATM provides convenience over the traditional banking methods currently used by individuals and businesses, especially when it comes to accessing cash. An ATM for sale increases convenience levels while offering other benefits like transactions fees savings and increased traffic, among many others. It can also help you earn extra profits within your establishment. BOSTON NORTH COMPANY offers wall-mount and through-wall mount ATMs and POS systems that can match your budgetary allocation. Call us to kickstart your journey today.

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