ATMs can undoubtedly help small businesses, given, of course, that they can maintain them, too. When placed in strategic locations, businesses can benefit from transaction fees and reductions in service time and cost related to their debit or credit card transactions.
If you are on the fence about getting an ATM for your small business, read on as ProSource shares some of the benefits of getting an ATM:
Revenue Source
If you are a business owner, you know how it is to count every penny. You’ll be happy to know that ATMs can work for you as a valuable tool in increasing your sales. The transactions of ATM cards, which are generated from this equipment, are also collected and converted into cash. This means you’ll earn an extra income from card transactions.
Spending Boost
Businesses with ATMs are known to have a 7.5% higher spending boost compared to those without a similar ATM. This is due to the fact that most customers are drawn towards the machine because of the convenience of being able to withdraw cash, which is not just a matter of a few seconds like in banks, but almost instant. It’s also logical for customers to buy from the shop where the ATM is instead of somewhere else, so if you have one in your business, you can be sure that you’d be making more than if you don’t have one.
Reduced Processing Concerns
ATM receipts do not contain sensitive financial data like credit or debit cards. This means that it is not necessary for you to follow the various regulations set by law for banks when handling ATM-related transactions. These include the Sarbanes-Oxley Act, a federal law requiring all financial institutions to implement additional security and fraud prevention measures.
Faster and Cheaper
With ATMs, the time required to fill up your cash register is reduced by up to 20 percent, and you wouldn’t need to hire a few employees just to do the job. This means you’ll save a lot in employee wages, and your cash register will have a higher turnover, branding you as a store with a fast turnover at the same time.
Service and Marketing Tool
ATMs can act as good marketing tools, too. For example, you can use a digital sign on your ATM to promote your latest promos, which can be used to lure customers to your business, even when the machine is idle. The screen can also display messages about your product offerings and other important business announcements.
Don’t just rely on your customers to come in and out of your business; be proactive and offer more convenience to them by getting an ATM. It also reduces your worry about accepting checks and debit cards, making your business more appealing and convenient to all.
Conclusion
Getting an ATM may seem like a daunting prospect. But with the right information, you can find the best ATM that’s both reliable and within reach. The key to success is to arm yourself with relevant information to make sure you’re getting the right fit for your business. So, if you have questions about ATMs or need to know more about what it means to have one for your business, you should only consult a reputable provider in the industry for years.
If your business needs an ATM in Wisconsin, ProSource is the company to call. We have been the leading ATM supplier in Wisconsin for years now, providing businesses with reliable services. Contact us today to know more about our ATMs!