Benefits of having an ATM
Money withdrawn is usually intended to be spent
Customers who withdraw cash from an ATM in a bar or a restaurant will typically spend around fifteen percent more.
ATM Machines increase foot-traffic
The success of an ATM is largely due to the reliability of the machine and cash replenishment. ATMs are a point of convenience and if your equipment is maintained reliably this will help to increase foot-traffic to your store.
ATMs are an expected service
It is likely that your competitors have ATMs within their business. Over the course of the last 15 years ATMs have become an ever increase expected service for you to have.
Cash payments are final
Receiving payment in cash helps to reduce your risk from credit card fraud / chargebacks. With the way electronic payments are going this is becoming an increasing difficult aspect of business for merchants to deal with.
Don’t share your profits with the banks
Credit card companies charge most restaurants a 1-3 percent fee. Less fees means that you get to keep more of the money you’ve earned.
ATMs are a great source of revenue
Depending on the arrangement you have with your ATM provider, the ATM can become a fantastic source of revenue. A % of the surcharge is often shared with the merchant for the space in their business.
As a business you have spent considerable funds bringing customers to your business. By having an ATM in your business you prevent your customers from leaving your business for cash – with the possibility that they do not return.