Does anyone remember how we used to get cash before ATM's? Did we have to go inside the bank? Then what? We lived like apes! - Dana Gould
Considering the benefits it provides, many retail business owners in the US want to install an ATM machine into their retail business. Moreover, recent reports have shown massive transactions made through portable cash machines. Another study conducted by RBR has revealed that by 2022, there will be 3.7 million ATM portable cash machines. The stats clearly indicate that the trend of incorporating ATM units is on the boom.
Therefore, if you have decided to integrate ATM device with your retail business, there would be many questions coming to your mind. To help you understand better, we are sharing the most common questions so you can make the best decision for your business.
What Benefits Do I Get from Installing an ATM in my Retail Store?
Owning an ATM machine allows you to expand your business. Whether you run your business during the day, or for 24 hours, you no longer have to worry about customers going away when they don’t have cash.
Furthermore, your customers can access their bank account through your ATM device for cash withdrawals from their credit or debit cards.
In addition to this, an ATM unit prevents customers from leaving your store to get cash from any other machine nearby. Moreover, an ATM kiosk at your place will boost your sales by up to 50% of the amount withdrawn from the machine. Also, it eliminates the need to accept checks and reduces credit card usage, fees, and expenses. Not only this, it will help drive more foot traffic and increase your customer satisfaction, enhancing your brand reputation.
How do you make Money from an ATM?
Surprisingly, you can make money from your installed ATM. Each time when your customer uses your portable cash machine to withdraw cash, a convenience charge will be deducted on the machine. Later on, you can collect that surcharge amount; keep in mind that the fee is deduced on each transaction. It means the more significant the transactions, the higher the revenue you will receive.
How Much Does an ATM Costs and from Where to Buy One?
Usually, mobile ATM devices can range anywhere from $1500-$5000; however, it depends on several factors, such as the version and model you are buying. But the main factor that determines ATM price is the dispenser- a device inside the kiosk that carries and dispenses the cash. All dispensers vary in sizes and types, which means the price goes up for the ones that can hold and distribute more cash.
Although there are many ATM providers in the market, if you are looking for trustworthy and experienced service providers, look no further than MOBILEMONEY.
How much Revenue Can I Generate From Retail ATM?
Well, it usually depends on the number of transactions made through your ATM on a daily basis. However, if you talk about an average figure, then around 5% to 7% of the store visitors will use the ATM unit. To give you an example, if 300 people are coming to your store in a day, and you charge $2.25 per withdrawal, it’s likely that you will generate a minimum of 360 transactions per month. Which means you will get $810 per month and $9,720 per annum in addition to your business revenue.
How Secure are Portable Cash Machines?
The ATMs by MOBILEMONEY are state-of-the-art. From Glory SK-500 ticket redemption machine to Halo II mobile ATM, all the new ATM devices from MOBILEMONEY & CASINOMONEY are manufactured with incorporating the latest and most secure technologies. They have rigid structures and strict security systems that prevent break-ins and robbery. In addition, they are being monitored 24 hours a day remotely and all the transactions made are encrypted.