Many types of businesses are investing in Automated Teller Machines (ATMs). Even the smallest convenience store or gas station can benefit, and the technology remains the same as it did a few years ago, albeit a few slight improvements. Many machines now support the use of cards for contactless payments and include security features. Other than that, here is why your business might benefit by having at least one of the billions of ATMs now in use.
An automated teller machine can bring more customers to your establishment. Studies have shown that 75 percent of people in the United States use one on a daily basis, and that they prefer to use them in convenient locations other than their bank. Advertising there is an available ATM can boost foot traffic significantly. Perhaps people will just come in to use the machine, but that also presents an opportunity for a sale.
In fact, more studies show that when someone uses an ATM at a store, they spend up to 25 percent of the money they withdraw at the same location. Stores with ATMs therefore have a good chance of increasing both foot traffic and sales. If your store owns the machine, you also receive any fees charged for transactions. Even if another company owns the system, you’ll get a percentage of the revenue, so it works out either way.
Your Reputation Can Depend on an ATM
Most people consider ATM safety, but it is the convenience of running into a local store and using one that is just as motivating. People love to have access to money. If they don’t need to leave the store, and can take out funds whenever they want, it’s possible to buy groceries, lottery tickets, and other items without hassle.
Customer retention is a sure benefit. Since one does not have to leave to get the cash they need, there’s no risk they go away and either forget about coming back or change their mind about your store. With an ATM, consumers don’t have to leave, and are more likely to find what they need at the right time.
Credit Card and Check Fees Are Reduced
An ATM increases the number of cash transactions at a store. That means fewer people use credit or debit cards, which add up the processing fees. Store owners are also familiar with having to pay for bounced checks. An in-store machine reduces such incidents as well.
It may seem complicated to procure and install an ATM at first. However, there are many options for store owners, and organizations specialize in providing the right machines and related services. It pays to look for one in your local area. The expense of obtaining or buying a cash machine may not be as much as you think, and you might make up for the expense in no time, thanks to fewer card transaction fees. Contact the Carolina ATM machine business for more information on how your business can benefit.