Updated: Feb 28, 2021
Whether at a retail store or coffee shop, customers who have access to cash may be more inclined to spend. If the funds are not readily available on them, an ATM can put dollars within convenient reach. If you’ve been thinking about installing an ATM at your business, here are several reasons why it’s worth the investment.
What Are the Benefits of Having an ATM at Your Business?
1. Woo New Customers
When window shoppers enter your business, they may not intend to purchase products or services if they don’t have cash on them. Having an ATM onsite provides them with access to funds, which may encourage them to spend. Word of mouth can spread that your business has an ATM on the premises, which can further attract new clients.
2. Generate Profit
Business owners may be able to boost profits by issuing surcharges for customers who use their ATMs. The amount can vary but typically ranges from $2 to more than $4. These surcharges can quickly add up and help generate significant profits.
3. Reduce Card and Check Processing Fees
One of the downsides of accepting credit card payments is the processing fees business owners must pay. Cash transactions avoid this problem. An ATM provides the channel for cash access and potentially reduces credit card processing fees. The same is true for check transactions. Entrepreneurs lower their exposure to insufficient fund fees and other processing costs.
Ensure your customers have access to cash with a FREE ATM placement from Heath ATM. Email or call us at (800) 849-3029 to get started!