subject: The Benefits Of In-store Atm Machines [print this page] As the owner of a convenience or any other store, it is generally your prerogative to put the customer first. By installing an ATM machine in your store you will not only boost sales, but also be improving your customer service options. A happy customer will return to your store, thereby boosting future sales and improving future profit margins.
Due to the increased risks of carrying cash, more people are using debit and credit cards than ever before. However, credit card fraud is at an all-time high and, while banks are working on ways to improve or eliminate this problem, some people still prefer to use cash. Occasionally one may also receive a discount when paying for items with cash. By installing an ATM machine in your store, your customers will be able to draw the amount of cash they require for their purchases. Customers expect ATM machines to be placed in locations where they may need cash. One of the benefits of having a machine in your store is that customers are likely to spend up to 30% of the amount they have withdrawn in your store.
As the world continues to grow, so do the needs of the consumer. More people tend to store their money in bank accounts rather than in a shoe box under the bed, partly for security reasons, but also because banks offer more affordable savings accounts and ATM cards. With more people moving away from rural areas and relocating to urban areas, ATM machines can be better managed and ATM services and servicing can be rapidly deployed. This means that should the machine in your store malfunction for some reason, your multitude of customers need not wait long to withdraw cash and carry on spending.
Many of the companies that provide these ATM solutions employ highly experienced personnel to ensure that should you have any queries, or in the unlikely event that you have a problem with your machine, they can help you out in a friendly and efficient manner. Specialised training programs ensure that the staff members are knowledgeable and well equipped to do their jobs, in order to guarantee customer satisfaction.
There are a number of main benefits to you and your store when you install an ATM machine. These include the following:
Increased sales. Customers tend to spend between 20%-80% of the amount they withdraw from in-store ATM machines in that particular store. This makes it one of the most effective ways to increase the spending power of the customer while they are in your store.
Increased traffic. When it becomes known that there is an ATM machine in a particular premises it will draw more people to your store. While in your store displays and promotions catch people's eyes and can rapidly turn the generated traffic into consumers, thereby increasing your turnover.
Save on cash deposit fees. Most banks charge an average of 10% of the amount of cash that you wish to deposit. This means that you can lose a sizeable chunk of your investment due to bank charges. By recycling your cash into the machine, the money that is dispensed is then reimbursed to your nominated account, with NO ADDITIONAL FEES OR CHARGES.
Earn rebate income. Every time a person uses the ATM machine to withdraw cash, you will receive a certain amount as a rebate, therefore increasing your revenue.
Reduce credit and debit fees. Every time a customer pays for their purchases with a credit or debit card, your store pays the cost of the transaction. An in-store ATM machine encourages the use of cash, thereby reducing credit and debit transactions and the accompanying fees.
Reduce queues at tills. Credit card machines can take a long time to process transactions, which results in lengthy queues forming at the tills. Some people may leave their purchases and shop elsewhere where queues are shorter. Cash payments are considerably quicker transactions.
Reduce bank visits. By recycling your excess cash through the ATM machine you will not need to go to the bank as often, as well as reduce the amount of cash that you carry with you.
Customer service. People like to withdraw money from a safe place. By installing a machine in your store, you provide this ATM service which keeps customers happy and guarantees customer loyalty.
Improve your image. By providing this unique service to your customers you will generate traffic and gain appeal.
Marketing. The brightly coloured screen, as well as every slip that is printed, will feature the name of your store, thereby giving you the opportunity to promote and advertise your store and any specials.
As you can see, the benefits of installing one of these machines in your store are endless, and give you the opportunity to increase your revenue. Take advantage of this and have an ATM machine installed in your store today.
