You have a lot of decisions to make when it comes to running your business. One of those choices is whether you should offer an ATM machine at your location. While you could always accept credit cards and debit cards to eliminate the need for cash, there are distinct benefits to allowing individuals who patronize your business to withdraw money from their bank accounts.
Studies have revealed stores that offer an ATM machine for their customers see an increase in sales by up to 25 percent. This is because money is more accessible to patrons, giving them the freedom to buy more things rather than having to leave the store and come back later.
Credit card processors charge a small fee on every transaction your business makes. While an ATM machine will charge your customers a fee for the transaction, this eliminates the credit card processing fee you will pay. The fewer fees you have to pay, the better your profits will be and the lower you can keep your prices, drawing in more customers.
Have you ever noticed how ATM machines will charge a separate fee beyond what your own bank charges? When you purchase and use a machine for your store, those fees will become another stream of revenue for your business. While some will need to be spent on maintaining the machine, there will be money leftover to generate more income for your business as well.
When people are looking for an ATM and the store they are in doesn’t have one but you do, this increase the chances they will enter your establishment. Once they’re inside, they are more likely to buy something while they are there, even if they weren’t planning to in the beginning.
If you’re interested in an ATM machine for your business, visit the ATMWorld website at Atmw.com. We can help you find the solution that works best for you.
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