Getting an Automated Teller Machine (ATM) might seem like a significant expense for your small business. And at first glance, getting an ATM for your store is an additional cost in the books.
But do automated teller machines benefit small businesses?
They do.
But many traders may not know how ATM machines can transform their stores.
So, here are six pointers to help you understand why you should install an ATM for your small business.
1. You Can Make Good Money with an ATM Machine

Taking credit cards and using point-of-sales machines has its costs in the form of card processing fees. But how do you put more money in your pocket without inconveniencing your customers?
You can buy a new or used ATM machine.
Depending on your small business location, you can have a good number of transactions per month.
Now picture this:
You can also earn a fair amount by hosting the ATM machine in your store.
On average, your rate as the ATM venue owner will usually be $0.50 per transaction. So, with good traffic, you can make a significant income.
Choose an ATM company that pays you 100% of surcharges to ensure you are not bleeding money.
2. People Spend Money Where they Withdraw it

Many people spend money where they withdraw it.
Suppose that the ATM machine’s location also happens to be your small business. In that case, you can increase the chances that the ATM users will spend the money within your business.
HIM Consumer Tracking also found an interesting trend.
Your customers are likely to spend 64% more in your store for the sheer benefit of not having to leave it to withdraw cash elsewhere.
3. Customers Expect an ATM in your Store

A 2018 Local Shop Report shows that 75% of customers expect to find an ATM machine in a convenience store.
The customers want to withdraw money and buy items conveniently. If you do not have an ATM, you might miss out on some business opportunities.
You do not want to lose customers to your competitors.
4. ATMs can Save your Business Money and Hours

Do you need to make several bank trips to deposit business cash?
You can store your cash in the auto-teller during business hours for later deposit to the bank. That way, you can secure your money until it is critical to move it.
Other than the convenience, the money machines can save you costly bank deposits. Some businesses report to save up to $1,000 on bank cash deposits every year.
5. Do Away with Processing Issues with an ATM

Debit and credit card payments require verification. That process eats time from your business.
Moreover, the card providers charge payment processing fees that reduce the amount of cash going into your pockets.
However, autotellers encourage cash transactions that are free and quick.
It is no surprise that the ATM Industry Association reports that 84% of global merchant transactions are in cash form.
6. Your ATM is an Advertising Outlet

Third-party advertisers are targeting the 13 billion transactions on ATM machines.
ATMs offer interactive screens where marketers can display video ads to users. Marketers also use redeemable coupons and barcodes on ATM receipts to advertise their interest.
You can charge a fee for allowing the advertisers to do marketing on your ATM machines.
Conclusion

ATM machines can help you customer expectations, earn transaction fees, and attract more business. Remember, customers also expect an easy way to pay for their items.
The transactions also save you the fees and verification time typical with credit card processors. Depending on your budget, you can buy or hire a new or used ATM machine for your store.