In a business, it’s necessary to have a flow of customers to make sales. But, most times, you lack customers due to the method of payment you accept. If you only accept cash, you may miss opportunities because customers need more money. However, you can turn things around by installing an ATM on your business premises. So, what are the reasons why you should install one?
- Increase sales
Money people withdraw from an ATM they spend within the business premises that houses the machine. It means installing an ATM around your business will lead to more sales. You can also do on screen advertising, bringing more income to your business.
- Increases customer loyalty
Installing an ATM on your premises means customers will stay on the premises. But ensure you do not install cheap ATMs that will have issues every now and then. Buy quality machines to run well and offer efficiency. Having an ATM accessible anytime will lead to users seeking other services from you. Customer loyalty will play a significant role in converting the relationship to tangible profits.
- Convenience
Installing an ATM, as mentioned, builds customer loyalty. It will help you become competitive in any business. So, customers can leave your business premises to look for an ATM and probably refuse to return. Customers can comfortably find a solution to all their cash needs which will play a role in customer retention.
- Improves customer satisfaction
E-Commerce is on the rise, but people still shop in stores. It’s essential to evaluate what experience they will have when they enter your shop. Will they feel isolated because of your payment plan or lack of funds? It means they will leave and find the services somewhere else. When they do this, it has long-term effects on your future sales. However, you can change this by installing an ATM to improve customers’ experience by providing convenience.
- Reduces credit card processing fees and chargebacks
Credit card users mostly want to pay in cash. Having ATMs for your business lowers the processing fee you may receive if you accept credit cards. Switching from credit cards to money will save you a lot, increasing your profits. In addition, you also reduce the risk of check disputes and chargebacks.
- Builds foot traffic
Most people love using other means of payment, but having some cash is crucial. Sometimes it’s a hassle to walk to the bank to access an ATM. Installing functional ATMs will make you reliable to your customers. They will be sure when coming there that they will get cash which can increase foot traffic.
- Flexible ATM plans
It’s possible to get flexible ownership programs that make it easy to buy ATMs for sale. You can lease, direct sale, and rent to own a program. Buying allows you to own and operate the ATM keeping the 100% surcharge revenue. You can also rent to own or lease to suit your needs. This will bring more customers and revenue to your business.
ATMs are convenient compared to traditional banking methods. People today want to access cash anywhere as long as they have their ATM cards. So, having an ATM around your business premises will increase convenience, traffic, and sales. In addition, you will make extra profits that will make your business strive.
For a business to earn sales, there must be a steady stream of clients. However, the payment methods you offer are usually the reason you don’t have many consumers. You can lose out on prospects if you just take cash because customers might need additional money. By adding an ATM to your business location, you may change the situation. What are the justifications for installing one, then?
Despite the growth of e-commerce, individuals continue to shop at physical businesses. It’s critical to consider what people will encounter when they go into your store. Will they feel alone as a result of your payment plan or their inability to pay? It implies that they will depart and locate the services elsewhere. This has a long-term impact on your future sales when they do it. However, you can alter this by adding an ATM to provide convenience for clients, which would enhance their experience.
Most credit card users prefer to pay using cash. If you accept credit cards for payment, having ATMs reduces the processing cost you can be charged. You will save a lot of money by switching from credit cards to cash, which will increase your income. You also lessen the possibility of check disputes and chargebacks.
