What are the benefits of having an ATM in my business?
For cash-dependent businesses that operate by having their customers continually pay to be there, like many entertainment venues or bars, their ability to make money is directly related to how much money a customer has in his pocket. Having an ATM machine on-site allows that customer to keep spending money with little or no interruption. This doesn't just hold on to the customer. It also increases his average spending level. After all, if he's making a withdrawal from an ATM at your business, it's probably to spend money with you.
Higher Customer Retention
When a business lets you place an ATM in its location, it gets the benefit of being able to keep its customers inside. For customers that have an ATM card and either don't have a debit card or are unwilling to use it at a swipe terminal, the only way to complete a transaction is with cash. With an ATM in their location, the business prevents the customer from leaving and potentially not returning.
When an ATM is in a publicly-accessible location like a hotel lobby or a convenience store, it can also generate traffic. When a business has someone come in to use the ATM, it gains the opportunity to convert them into a customer for other goods or services. Strategically positioning the ATM to draw the customer into the store can increase the success rate of this strategy.
Credit and Debit Card Fees
When a customer uses an ATM, it doesn't cost you anything. ATMs don't charge you a swipe fee or a transaction fee -- they charge the person withdrawing the money. However, once your customer has cash, he's more likely to use it to buy from you than to use his credit card. This can reduce both your swipe fees and your merchant discount
Benefits of ATM ownership
ATMs are affordable
ATMs can generate significant profits for your business
Easy to operate with Cardholder's Choice as your partner
ATM customers spend an average of 20% to 25% more than non-ATM customers
Retail location ATM's that dispense $20 bills increase store sales by up to 8%
ATM users are "habit" driven, coming back to the same ATM repeatedly = increased Traffic in your business.
There are no credit risks
ATM customers prefer the convenience of a retail store vs going to a bank
Retain customers: don't lose customer who are forced to go elsewhere to get cash
ATMs increase impulse spending
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