If you wish to invest in an automated teller machine or ATM, you will be able to get an additional revenue source and retain the customer relationship much better than before.
In case you have space where to add it, the implementation of ATM will provide you the ability to attract more customers, and you will be able to make a percentage for each transaction that they make.
In most cases, you will be able to purchase an ATM directly from a manufacturer, or you can also find other retailers that will provide you Goldstar ATMs.
The manufacturers will handle all critical aspects such as money management, transactions, service, maintenance, installation and monitoring. You can rent, lease or purchase an automatic teller machine for your business, which means that you do not have to pay a significant price tag.
Why Do You Need An ATM?
In case your business depends on substantial foot traffic, and you have more than 150 customers daily, you may have found some customers asking for the nearest ATM so that they can purchase something from you.
It does not matter if you own café, restaurant, nightclub, grocery store, convenience store, gas station, and other brick and mortar business, because owning an ATM will help you reach more customers and make your business more appealing and convenient for them.
Should You Get New or Used One
When it comes to ATM providers, you will always be able to choose whether you should purchase a used machine or get a new one with a wide array of features. Remember that customers tend to avoid old machines because they are slower and inefficient.
On the other hand, finding a new model means that you have to pay a higher price tag, but it will be more convenient for your customers due to fast transactions.
The price tag depends on the model and features that you wish to get. At the same time, you can lease a model for a monthly price, which is another convenient solution for small business owners.
What Is EMV Compliance?
EMV compliance standard is something that various organizations, including Visa, Union Pay, MasterCard, Discover and American Express, created with the idea to standardize this particular industry.
Therefore, you should always get the ATM that features EMV compliance because that will authenticate these transactions, and it is a mandatory requirement that will provide you peace of mind.
At the same time, you should remember that EMV technology refers to a square chip inside the card, and it is available preferences due to these reasons:
- It is a more secure transaction that will provide you a unique code each time you use the card. Afterward, you will not be able to use the same code again.
- It is also a perfect way to reduce fraud by 50% when compared with old standards, which means that you will be a more secure machine that will bring additional convenience to your customers.
- It is perceived as a sign of security, which means that more customers will use your machine than others that are not compliant.
- It encourages the use of chip cards that feature EMV technology, which will lead to fewer frauds for people that are using it for debit card transactions.
These are the reasons why you should make sure that the ATM you buy is compliant to EMV so that you can increase the security and bring more people to your store or restaurant.
The best way to understand everything about automatic teller machines is by clicking here for more information.
Similarly, like other forms of technology, the overall appearance of ATMs is vital when it comes to convenience while using it. Old models are most commonly associated with high fees and low security, which means that placing a former model, will not bring you more people inside.
Older models are much slower, which makes people nervous during the transaction. At the same time, they are reminiscent of terminals and computers that were used in the ‘90s, which looks outdated.
Since the old models come with years of operation, you will have to spare a significant amount for regular maintenance, which will ultimately take more money out of your pockets than buying a new one.