Benefits of ATMs in Your retail Store

Benefits of ATMs in your retail Store

Retail store owners must find several ways to attract customers to their stores and, more importantly, spend money there. A MasterCard research shows that customers may use debit cards for routine purchases, but they visit the nearby ATM inside retail stores more often for small cash withdrawals. ATMs are an essential part of a merchant’s business. The advantages of having an atm for retail store are:

Most Profitable Three Square Feet of Your retail Store

Depending on the location of the atm inside the retail store, traffic flow, and surcharge, your ATM can pay for itself in less than one year with the income it produces. Most customers are willing to pay because an ATM permits them to shop and bank in one location. With an ATM in your store, a percentage of the transaction money goes to you, offering an additional revenue stream for your small business.

Increased Sales

Several studies prove that an onsite ATM can increase merchant profits. According to ATM Marketplace, customers who use ATMs spend about 25% of the money withdrawn due primarily on “impulse purchasing”. ATMs also offer the opportunity to increase sales through on-screen advertising, toppers for third-party promotion, ATM wraps, cryptocurrency sales and coupon options.

Reduced Credit Card Fees and Bad Check Losses

Credit-card service companies charge as much as two to three percent of the total purchase cost in fees. There is a debit card processing fee assessed to the retail merchant. An ATM provides your customers with easy access to cash and decreases your credit and debit card transaction fees plus the risks of bad checks. ATMs help you not carry large amounts of cash in your register and you can make money from your ATM inside your retail store.

Increased Purchaser Satisfaction and Loyalty

Providing all customers with easy access to cash is a convenience they appreciate and expect. Having an ATM in a small store is also a great way to raise traffic and repeat customers. The new ATM traffic entering your retail store is a potential sale for you now or in the future.

ATMs in Your Store Give Security for Customers

Unfortunately, crime is always a factor today; people are more likely to select a merchant with an ATM to get their money. However, a well-lit and secure location attracts more potential customers to your store, giving you an opportunity for a good sale. Find a secure place to place your ATM for your retail store.

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