Credit card companies have been waging a war on cash, and so far they have failed. According to the Brinks CEO Doug Pertz, Americans still want to pay with cash, and what they really need is access.

Would your business benefit from having an ATM on site? Odd are the answer is yes! Here are the top 5 reasons you may want to have an ATM installed in your business: 

Encourage New Customers

With more than 4,000 financial institutions closing branches in 2021 and experts predicting closures won’t slow down in 2022, Americans need independent ATMs more than ever. While it’s nice for a retailer to draw customers into their store to use the ATM and receive income from it, the real benefit is increased sales. Once inside your store, ATM users often see something they want, or remember something they were intending to pick up. Since they are already inside, they frequently make a purchase. Statistics provided by the Javelin 2020 Health of Cash study show that 65% of ATM users spend as much as 40% of their cash in the store where the ATM is located. Not only have you provided a vital service – easy cash access, but you’ve likely gained a new customer who knows where they can reliably pick up cash.

Consumers Want Payment Options

A vast majority of Americans (82%) feel it’s important for a store to accept cash payments. Given that a quarter of Americans are unbanked or underbanked, and many Gen Z consumers are opting for cash as a better way to manage their budget, businesses that provide an ATM are more likely to see a boost in traffic. No matter what type of business you own, chances are you attract a wide variety of customers from different backgrounds. Many prefer to use cash, and for many, it’s their only option. For your store to cater to all of your community, having card and cash options is a must, so why not go a step further and provide an ATM too?

Keep Customer in Your Business

When a cash-paying customer finds themselves with an empty wallet, what are their options? Without an ATM on hand, they will be forced to abandon the purchase and seek cash elsewhere.  But why take the risk of directing a customer to another location? Chances are they might find what they need along the way or rethink their purchase due to lack of convenience. Having an ATM in on-site protects you from losing sales.

Additional Income Stream

In addition to providing convenience, an ATM brings in extra income. Having an ATM installed in your business not only increases your store sales, but you get a nice bonus to your income every time a user swipes their card at the machine.

Reduce Expenses

Most credit card companies charge a merchant fee between 1.5%-3.5%. By encouraging your customers to take advantage of the ATM and pay in cash, you not only earn money when they use the machine but you save by not having to dish out money towards card processing fees.

No matter the type of business you have, chances are you’ll benefit in the form of increased sales and extra revenue, customer loyalty and savings on card processing fees with an ATM on-site.  Contact us to find out if you qualify for a FREE, turn-key ATM.