9 Benefits of Adding an ATM Machine to Your Small Business

Posted by MichealH Alexander on September 13th, 2019

The first ATM was installed in 1967. Since then, millions have taken residence in banks and businesses across the globe. And there’s no wonder why.

ATMs provide an essential service for everyday customers. Some businesses only accept cash, and some customers prefer paying with physical bills. Even with the rise of mobile banking, it seems that ATMs are here to stay.

Have you ever considered installing an ATM? You should.

Here are nine benefits of adding an ATM machine to your small business.

1. Help Customers Make Bigger Purchases

49% of Americans carry or less on their person. For convenience stores and gas stations, this is likely enough. However, won’t be enough to make purchases in more expensive establishments, such as bars and hotels.

When a customer wants to pay with cash but doesn’t have enough, they’ll avoid making the purchase. Or instead, they’ll go for something cheaper. And that’s lost revenue for you and your business.

With a convenient ATM placed nearby, there’s a good chance they’ll take out the cash to buy what they need, rather than settling on the cheaper option.

2. Attract Customers Who Need an ATM Machine

Additional traffic is one of the advantages of ATM machine installation. Your regular customers will enjoy the additional service. However, an ATM will also bring new potential customers.

When you have an ATM for business, display this information somewhere on your storefront. Passersby will enter your store if they’re looking for an ATM. And while they are there, they’ll be likely to spend some of their new cash on your merchandise.

3. Keep Customers in the Store

When customers can’t afford what you’re selling, they won’t buy anything at all. This leads to two situations: your customer will leave without making a purchase or worse, they’ll head to a competitor with an ATM.

An ATM machine for small business enables any customer to buy what you’re selling. This will keep them in the store, rather than having them head out to a different business.

4. Profit From ATM Surcharges

You might not know, but you can make bank with an ATM machine. Every time someone uses an ATM, you’ll make money.

So how does it work? The ATM machine has a small surcharge for any transaction. Your ATM provider will take a cut of this fee.

But the rest is yours. And it might be bigger than you think. There is serious profit potentialdepending on the number of transactions occurring every month.

With Kingwood ATM, for example, you’ll take a greater share of the profits with a greater number of transactions. If 600 customers use your ATM, you’ll make .52 off every transaction.

That’s almost an additional ,000 per month. And why leave money on the table?

5. Improve Customer Service and Satisfaction

It’s more important than ever for businesses to have well-rounded customer service. And this extends beyond having happy and trained employees. They want a comprehensive customer experience.

Installing an ATM machine provides another service for customers old and new. This may save some customers a trip to the bank. For others, they’ll be happy to have the option to pay with cash.

These small changes can lead to better customer satisfaction, and, in turn, increase the reviews of your establishment. It’s a great way to edge out the competition and bring in additional customers.

6. Expand Customer Payment Options

Being able to pay with cash is a boon to your customers. But ATM machines offer more than that. They may take payment options that your facility cannot.

This empowers customers to use the payment option of their choice. If you don’t accept their type of debit card, they can instead use it at an ATM to withdraw cash for a purchase.

7. Save on Credit Card Transactions

Every time a customer uses a credit card, their bank charges you a fee. Although it’s a small charge, these payments can really add up.

It’s not a great idea to force customers into paying with cash only. However, fewer customers will use their credit cards for purchases when cash is also an option.

For every customer that uses the ATM to withdraw cash for your business, you’ll avoid credit card transaction fees. Install Cash Machine in Shop TX

8. Stop Accepting Bad Checks

Many people still pay with checks. But this can become an issue when a customer pays with a fraudulent one. In essence, you’re giving them your merchandise for free once the check bounces.

Although there are ways to avoid bad checks, it’s a complicated affair for you and your employees. With an ATM machine, your customers will have plenty of secure payment options available.

This could allow you to stop taking checks altogether. If you continue to, at least some customers will use the ATM instead of writing a check.

9. Avoid Credit Card Chargebacks and Disputes

Bad checks aren’t the only problem. Credit cards can also be a hassle. After making a purchase, your customers may choose to dispute the charge.

That can cause a headache for any small business. All transactions are final when using an ATM machine. By encouraging customers to take out cash instead, you’ll limit the amount of credit card disputes you deal with on a monthly basis. Install Reliable ATM machine Tx

Interested in an ATM?

In a world of increased business competition, you need to stand out. An ATM machine is a great way to attract more customers to your business and make it easier for them to buy your goods. It also protects you from fraudulent transactions, such as bad checks and chargebacks.