top of page

Resolve to Make More Money by Installing an ATM

Today’s economy has many consumers worried about their finances. Amidst rising interest rates and soaring food costs, people are turning to a solution that may be surprising: cash.

And retailers can take advantage of this growing trend by providing the cash convenience consumers need with in-store ATMs.

A Battle to Manage Finances

Generation Z and Millennials have been hyperaware of debt since the Great Recession back in 2008. Millennials especially are already up to their eyeballs in education loans. Adding more debt to their already inflated obligations is the last thing they want to do. Yet, as costs continue to rise, maintaining the same standard of living often means spending more now with the intent to pay later. Today, over 41 percent of Millennials have at least one credit card and many are putting themselves reluctantly further into the hole.

Despite their aspirations to be more financially responsible, Gen Z isn’t immune to the temptation of pushing payments to a later date, either. Rather than credit cards, this group is increasingly turning to “buy now, pay later” (BNPL) offers.

BNPL services are essentially small-dollar loans. They can usually be found in the checkout section of popular online retailers under headings like “or 4 payments of $52 with X.” In many respects, they mimic the old-school “Zero Percent Interest if Paid in 6 months.” That has pulled many Gen X and Millennials in over the years.

But, while these services don’t offer the same interest fees as credit cards or even traditional loans, they do include fees for late payments. Worse, they rarely check to see whether the consumer has the financial capacity to make those payments.

Turning to Cash

Like baggy clothing and parting your hair in the middle, cash budgeting isn’t a new concept. Yet, TikTok has had a flood of young people posting about how they have discovered different ways to use physical currency to help them manage their budgets better.

Why is cash so effective? For one thing, you can’t spend more money than you have if you’re paying in cash. But there is also a mental connection being made when you must trade something that you have in your pocket to get something else. That interaction makes purchases and spending money much more real for the consumer.

And the number of people choosing to use cash has a larger impact than digital and card payments networks would like everyone to believe. Demand for physical money has risen since the pandemic and cash circulation is 16 percent higher year-on-year. Currently, 35 percent of purchases made in-store in the U.S. are made with cash.

How to Leverage an In-Store ATM

Consumers like to shop in stores that cater to their needs. And access to cash is no exception. In-store ATMs offer consumers, especially the younger generations, the money they need in convenient locations near their homes, workspaces or hangouts. Younger individuals who use the ATM are more likely to frequent the establishment – using the ATM an average of seven times or more per month.

Retailers with in-store ATMs generally benefit from higher levels of foot traffic and increased frequency of visits too. But ATM users also typically spend around 20-30% of their acquired in the establishment hosting their preferred machine. And surcharges on transactions can also add a nice source of recurring monthly revenues.

So, this new year, it might be time to help customers address inflation. It might be time to give consumers added convenience. It might be time to resolve to make more money by installing an in-store ATM.

Find Out if your Business Qualifies for a Free, Turn-Key ATM.

Contact Heath ATM Today!

Give us a call at (800) 849-3029 or email us today!

Recent Posts

See All


bottom of page