If you own a brick-and-mortar business, our payment solutions company highly recommends that you install an ATM on your premises. Although you might be thinking that nobody uses cash anymore, the fact is simple: people still need cash for some transactions. Even though the majority of people pay using debit or credit cards, cash is still a viable option for making transactions. In fact, some people prefer to make cash payments for a variety of reasons. Today we would like to discuss why having an ATM in your store, restaurant, coffee shop, or other business could benefit you.
Boosts Foot Traffic
If you have an ATM on your premises, it’s highly recommended for you to display easy-to-see signs both inside and out of your store advertising that it’s there. When people in need of cash spot your sign, they’ll decide to stop into your store to withdraw some cash. What do people like to do when they have cash? Spend it! While inside your store, they might even begin browsing your selection and finding items to purchase with their cash in hand. Therefore, when you have an ATM inside of your store, you could make additional sales simply because of its presence.
Oftentimes, when people withdraw money from your ATM, they will spend a small percentage of their cash in your place of business. This could be especially beneficial if a customer withdraws $100. If someone withdraws that amount, they could spend as much as $20 at your store. Therefore, having an ATM in your store doesn’t just boost foot traffic, it increases sales as well.
Decrease Credit Card Fees
Every time that a customer makes a credit card transaction, you are charged a small fee, which is simply unavoidable. However, when you have an ATM located in your store, people are more likely to pay for their purchases using cash, which saves you money. If you own a business like a convenience store or a coffee shop, you process many small purchases. You could require customers to only use cards for payments over five dollars. If you have an ATM, they can simply withdraw some cash and still make a payment, saving you money.
Help Customer Retention Rates
If your customer wants to make a cash purchase but you do not have an ATM available nearby, you could lose out on a sale. When you have an ATM on your premises, then you won’t have to worry about losing out on sales.
When you have an ATM machine in your store, you decide upon the amount to surcharge the customer. Our payment solutions company takes a small percentage of the surcharge, and the rest of the money goes to you. That means more money in your pockets, which is a win-win situation.
Are you ready to take your business to the next level and make more sales? Do you want to make higher sales and boost your customer retention levels? Contact Americard Payment today to buy an ATM machine for your business or for any payment processing services that you need.