Top 5 Benefits of ATMs at Your BusinessPAI – Jun 1st, 2013
If youíre thinking about purchasing an ATM for your business, you may be wondering if itís worth the investment. These top five benefits of ATMs show just how beneficial it can be.
1. Increased Foot Traffic
When you have a well-advertised ATM, people will come to your store to use it. This is especially true when either your business or those around accept mostly cash transactions. By having an ATM inside your business, these potential customers will enter your store to use it, giving you an opportunity to make a sale.
2. Increased Sales
Studies show that ATM users will spend up to 25% of their withdrawal in the same store the ATM is located. Combined with more foot traffic, this could increase your sales a significant amount.
3. Reduced Card Fees
As a merchant, youíre probably familiar with the fees you must pay for purchases made with a debit or credit card. While the amount of each fee depends on the total purchase price, even small fees can add up to a significant amount. Installing an ATM will increase cash transactions, thus saving you money by reducing the number of debit and credit card fees.
4. Surcharge Revenue
When you lease or purchase an ATM, you set the transaction fee customers are charged when they use it. This fee then goes directly to you, providing your business an additional revenue stream. While you must spend some time and money on ATM maintenance, itís minimal compared to the income the machine generates. If you choose to have an ATM placed, instead, you still get a percentage of the revenue and you wonít have to do any of the ATM maintenance. Either way, this is a great new revenue stream for your business.
5. Customer Retention
When a customer is at your business, they may or may not have the cash on hand to make a purchase. If they donít, and thereís no ATM in your building, they must leave to find cash. This creates an opportunity for the customer to change their mind and decide not to return to make the purchase. Having a convenient ATM in your building will prevent customers from leaving to gather the funds necessary to make a purchase.
Ready to place an ATM inside your business? Learn about ATM Business Solutions by speaking with a PAI representative today.
Tags: [Merchant Solutions] – [ATMs]
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