ATMs are great for business. They increase walk in traffic and can even earn you new customers that might not have even known you existed before. The machines provide convenience, additional business services that you can provide to your customers, and even a passive untapped revenue stream that can have a positive impact on your bottom line. If you haven’t already considered getting an ATM machine to your business, think about these four reasons that now is a great time.
An ATM machine will put cash in customer’s hands
One obvious reason to have an ATM machine to your business is that it increases the spending power of all the customers that walk in. More cash on hand means an increase in sales and profit. Adding a machine to your storefront delivers big benefits that outweigh the minimal space they’ll take up and that you’re probably not using anyway.
Raking in revenue on surcharges
The way that ATMs make money for the stores that have them is by charging surcharges on top of withdrawals from the machine. A portion of those charges go to the company that manages the machine. The other part goes straight into your business’s bank account. This is passive income that you don’t have to work very hard to earn and could make all the difference in the success of your business.
Save on credit card fees with an ATM machine
Retail business owners know how much credit card processing fees can add up. But, the world does run on plastic these days and not accepting credit cards from customers is like shooting your business in the foot. Take care of two problems at once by adding an ATM to the store which allows customers to pay in cash and for you to save on those fees. You can even offer incentives to cash-paying customers.
Give check-paying customers another option
Check-paying customers aren’t as common as they used to be, but you will occasionally have someone come into your space hoping to pay with a check. Accepting checks present a big risk since they might not even be worth the paper they’re written on. Instead, point your customer to your new ATM machine and suggest they withdraw cash instead for the items they’d like to purchase.