Looking for ways to have success in your business without a big investment? An ATM is what you need
If you business is located in a high traffic location and you have a lot of customers coming to your store for purchasing, why not help them more. An ATM will be helpful for them and you as well. Now if you ask who needs to have an ATM machine, we would say that every merchant should have one in his business premise. Majority of Americans prefer carrying a credit or debit card than a lot of cash while shopping. The quick and easy money drawing technologies are highly preferred by them for daily purchases, be it a lot of things or a few. This is also irrespective of the place – for instance they will use these cards at stores, gas stations, movie theaters, malls and restaurants. They appreciate an ATM close by to get access to the money required at any time.
This will be profitable without bringing any trouble to you
As you offer your customers the reliability and convenience of an ATM machine, you get a cost effective opportunity to have the profit margin increased. If a consumer has more cash, he is likely to buy more items and spend more. Thus the proximity of an ATM to a store is highly profitable for the store owner. It is required that the business owner seeks the services of a reliable ATM company in order to enjoy quality services and support.
ATM transaction – a basic understanding
It is very easy to draw money from an ATM machine. The customer needs to insert a bankcard in the machine and then request for the withdrawal of a given sum of money. A toll-free number is then dialed by the machine in order to get in contact with a given network then contact the bank where the customer has his/ her account. Once the financial institution verifies the funds, the transaction is approved and the customer receives cash. The amount will be debited from the account of the customer. The withdrawal amount and surcharge are both deposited electronically in the customer’s ATM account.
Revenue that you get from your in-store ATM machine
The revenue amount that you will get from the ATM will depend on the number of people who come to your location daily. On an average it can be said that 3%-5% of the traffic in your store will notice the ATM machine and come to use it. Suppose you have nearly 250 customers coming to your stores and more than 7000 in a month. Let’s say 4% of these people will use your ATM, and then nearly 300 transactions will take place in a month. Now multiply that number with the per head surcharge. Imagine that will be obtained from your ATM in a month or year (depends on your calculation).
Make sure you are not overpaying for the ATM machine
If you already have an ATM or once you have one in your store, then it is important to know about the transaction fees. You need to check if they are low and reasonable. It is best to look for an ATM maintenance company. The experts will check the statements and help you to save money, increasing profit from the ATM business. Trustworthy employees can make sure the equipment is up-to-date and also they will help you to review statements properly.
What do you get from an ATM servicing company?
Reliable ATM companies incorporate hard work with their honesty and integrity to enable the following to you:
- Internet access to the transactions
- Complete ATM processing
- Round the clock technical support and customer service
- Help in increasing foot traffic for your store.