Why Cashless ATMs
Well first off, the word “Cashless ATM” is terminology the average merchant is not familiar with. Everyone knows you go to an ATM to get funds out or check your balance in your bank account connected to your debit card.
Cashless ATM service is a consumer and merchant friendly payment process. Cashless ATM terminals are convenient for customers when making purchases, and merchants enjoy them because of the convenience fee paid by the cardholder also pays for the cost of processing each transaction. This enables merchants to accept card payments with NO Transaction Cost to their business!
Savvy Merchants across the US and Canada are increasingly requesting Cashless ATM Solutions so they can make money on each transaction, instead of paying processing costs for every transaction where customers are using their bank card. This helps merchants increase profits.
Not everyone qualifies for or carries bank or debit cards with them. In fact, over 80 million consumers cannot qualify for a credit card, so they rely on their ATM cards. Adding a Cashless ATM or Point-of-Banking system to your store provides convenience for your customers because they don’t have to go to the bank to get cash, or use an ATM that charges them an outrageous fee. You also avoid people trying to steal your ATM machine since it does not dispense cash.
There are additional benefits for the merchant that are not available using the traditional merchant accounts, or regular cash dispensing ATM machines. The merchant makes money on each transaction, no hassles involved with keeping an ATM filled with cash or the increased security risks associated with cash dispensing machines. Cashless ATMs sit on the counter right by the cash register, they take up less floor space, you don’t have to load the machine or pay for a service to load it and decreasing the risk of theft.
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