Benefits of Having an ATM
- ATMs can generate significant profits
- ATM’s eliminate busy pay point tie ups and have no credit risk.
- ATM customers spend an average of 20 to 25% more than non-ATM customers.
- Reduce Cost of accepting debit: Many businesses are charged up to $0.15 per debit transaction.
- Many businesses rent debit POS terminals for as much as $50 monthly (ave $35/mth). The time to process a debit transaction can cause pay point delays and customer dissatisfaction. Eliminating or reducing debit use can deliver significant bottom line savings.
- Reduce Cost of depositing cash: Many businesses are charged up to $2.10 per $1000 in cash deposited. Loading cash from your daily revenue in the ATM is then direct deposits via no charge electronic
daily deposits saving fees!
- Reduce Cost of accepting credit card payments: Businesses pay to accept credit. A necessary service you may not be able to avoid entirely. Offering convenient access to cash reduces credit card transactions.
- Decrease credit card usage, up to 40%
- ATM’s are destinations for customers, they look for the signage.
- Attract customer traffic
- Retain customers who do not leave to find an ATM elsewhere.
- Increase sales
- Reduces customer embarrassment (some customer may be afraid their card will be turned down at the till. Hence they spend less if at all.
Convenient access to cash withdrawals eliminates this uncertainty.
- Independent studies show that cash retention among large retailers is 30-33%.
- Retention among smaller retailers is 35-40%.
- Night clubs are seeing 70-80% of the dispensed cash staying at the club.
- Retail location ATM machines that dispense $20.00 bills increase store sales by over 8%.
- Convenient access to cash increases customer satisfaction: a service your customers appreciate and many have come to expect as ATMs become more prevalent in the Canadian market.