Small businesses with one or even several brick-and-mortar locations are seeing an avalanche of benefits from supplying customers with cash at a moment’s notice. The simple truth about having an ATM on the premises is that it reliably attracts new customers. Why? An ATM’s presence encourages cash withdrawals and cash spending in your store and preserves higher profits per transaction.
Understanding Your ATM’s Revenue Potential
Simply put, having an ATM installed can attract more foot traffic–and that’s a serious boon to your bottom line; the simple enticement of having an ATM can often increase cash spending on the spot—a key reason calling for further exploration of ATM management information that impacts your revenue.
How Your ATM Attracts New Customers
ATMs and foot traffic go hand in hand. It’s about convenience. The likelihood of new customers stopping in from neighboring businesses to use your ATM to get cash is very high. Especially if you run a nightlife establishment or operate in the vicinity of an entertainment district, giving your customers the option of an ATM withdrawal can get more spending patrons through your doors.
Why ATM Management is Important
Accepting cash from customers sounds good, but what can you do if they run low on cash? Keep each of your ATMs fully stocked by using a quality ATM management company. After all, people like to spend money when they’re having a good time. Because you’re attracting more new and repeat customers, you’re also increasing cash spending at your establishment. ATM management means monitoring cash availability and other ATM issues to keep your ATMs running around the clock.
With reliable ATM service, your regular customers will take notice and will start incorporating ATM withdrawals at your establishment into their routines. Working with a reliable ATM management provider for maximal uptime while racking up additional income from the surcharges imposed each time someone uses your machine—that’s the ultimate winning formula for getting the most out of having an ATM at all your locations.
To make the most of the ATMs positioned throughout your retail network, choosing a reliable and convenient ATM management company can seriously affect how much incremental income you make. Ultimately, better service yields better revenue potential for you. Be sure to evaluate your ATM processing and management relationship for these four key points of differentiation.
4 Reasons You Should Be Concerned About Choosing a Reliable ATM Processing Company
1. Better ATM Management Boosts Foot Traffic
About 80% of all payment processing is handled via Automatic Teller Machine. Because your customers have little patience for long lines, the bank is not the optimal place for cash withdrawals and that’s your opportunity to create a win. With an ATM sign in your storefront window, customers who need cash will be drawn inside. Choose an ATM processing company that will support your need for the best ATM uptime possible.
2. Better ATM Management Boosts Sales
With more patrons filtering into your location to use your ATM, spending some of the cash they withdraw is to be expected. Researchers studying convenience store ATM patterns report patrons usually spend 25% more than customers who have not withdrawn cash from the store’s ATM. Choose an ATM processing company that will support customer demand for cash—with a system in place so you never have the opportunity to run out. Learn more about the Switch Commerce guarantee.
3. Better ATM Management Reduces Card Transaction Fees
Frequently consumers choose to pay in cash from an ATM before swiping their credit card. Choose an ATM processing company that offers around-the-clock monitoring and support—your key to being there the moment any customer comes in to do business with you or your ATM. Compare other ATM management providers to Switch Commerce.
4. Better ATM Management Means Earning More Surcharge Revenue
Earn income for every transaction when customers use your ATM. Some locations earn as much as $500 a month by collecting these ATM surcharges, while very densely populated areas can produce even more monthly revenue. Choose an ATM processing company that combines the best in service, uptime and monitoring services to give your customers the most consistent ATM access possible. Check out Switch Commerce now.
Better ATM management can yield a broader base of loyal customers. With Switch Commerce, get convenience and 24-7 reliability in ATM management and ATM processing as well as debit and credit card processing.
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