Tabletop ATM Machines

What are the Benefits of a Tabletop ATM Machine?

Hyosung Table Top ATM

Tabletop ATM machines (and Wall Mounted ATMs) are great for small spaces and when floor space isn’t available. They offer customers the money they need in a compact size machine. They can be placed almost anywhere a counter top or wall mount is available. They offer the same up to date transaction processing and they are a less expensive option when investing. 

Tabletop ATMs are some of the most efficient and easiest ATMs to maintain. Their easy access components can be reached with a flip of the top and yet they are just a secure as any standard ATM. Add receipt paper with ease. Easily add cash or do a little maintenance between customers. All of the upkeep that comes with your ATM machine is right there at table top eye level. There is no floor space needed for the table tops, lending more room to your merchandise or the merchandise of the store owner who provided space for your machine.

Click here to see the exact specifications of the Hyosung Monomax 4000 Tabletop or Wall Mount ATM. Read more

Maximizing ATM Revenues

Maximize ATM Revenue

Maximizing ATM Revenues

Before a business owner decides to purchase an ATM, there are factors that should be taken into consideration. First, an owner is usually wondering how they can maximize revenues with the machine and what a good plan is to make that happen.

The establishment where you locate or place your ATM, whether it is a gas station, convenience store, restaurant, or bar; will want to be sure they have the amount of foot traffic needed to generate good use of an ATM. A good rule of thumb to go by is; if the place of business has 150 patrons or more throughout the day, the ATM should generate enough revenue to make the ATM business for that location worthwhile. Another indication of a good establishment, would be if people stop into the business and ask if there is an ATM in the store or if there is one nearby. Read more

9 Tips to Planning Your ATM Purchase

Planning Your ATM Purchase

Planning your ATM purchase

Many business owners find themselves wondering if they should purchase an ATM. If you have a lot of foot traffic in your establishment, have people asking, often, if you have an older machine, or you know there isn’t another machine close, are all good reasons to consider the purchase.

Once the decision has been made to purchase an ATM, the decision maker needs to research and plan out the path they want to take. Some things to consider when planning an ATM purchase are the machine options, costs, and profitability. Knowing exactly what you are getting into and what to expect can alleviate stress throughout the purchase. Read more

ATM Networks: The Magic that Makes it Happen

ATM Networks: The Magic that Makes it all Happen

ATM Networks

In a regular bank setting, we would walk up to the teller, request our cash, and then it would be counted by the teller and handed to us. We walk away assured that the teller debited our account for the correct amount.

A typical ATM transaction allows the cardholder at the ATM machine to withdraw funds from an account or deposit funds to an account. As a user, if withdrawing funds, we take our cash and walk away from the machine, never giving a thought as to what went into making the transaction happen. Little does the user know there is a network communicating all of the transaction information behind the scenes.

How Does an ATM Network Work?

ATMs operate through a network; most are commonly connected to an interbank network. These networks make it possible for a person to perform a transaction at an ATM that does not belong to their bank, and in some cases, out of the country where their bank is located. There are many types of interbank networks, including Cirrus, PLUS, NYCE, STAR, PULSE, BancNet, AFFN, among others.

Once a transaction is performed at a machine, the network communicates the information to the proper bank, where the information is recorded to the user’s account. The communication with the network happens much like our home computer would with an internet connection. Most ATMs connect to a host, or sometimes known as an ATM Controller, through an asymmetric digital subscriber line (ADSL) or through a dial-up modem, which would be run through a phone line. If using the dial-up modem method, this is usually a specifically designated or leased line, rather than sharing a telephone service line. The method that an ATM owner chooses to use should be based on the amount the machine is being used. If the machine is being continuously used throughout the day, a dial-up modem might be slower and not the most efficient way to get the user’s the quick cash they are looking for. After all, you want the customer to keep coming back and using your machine.

As technology advances, many new ATM owners are now using connections through virtual private networks (VPN), or commonly known as a high speed internet connection and new wireless devices such as cellular networks using dedicated wireless devices hidden in top of the ATM. There are still older methods of communicating to a bank that are still in use; some of these include Async, which is short for asynchronous communications, where transactions are communicated intermittently to the bank versus the immediate moment the transaction is completed; and Systems Network Architecture (SNA), which to date itself, was created by IBM in 1974, and is a method that interconnects the ATM with the bank.

All of this may be irrelevant for someone in a hurry, running in to the local convenient store to get the $40 they need for the night; but nonetheless, it is the network communications of the ATM and the bank that are making the transaction possible for this rushed money grabber.

If you plan to own and operate ATM Machines as a business or in your business, the cheapest way to access the ATM Networks via your ATM processor these days is to simply add the ATM to your high speed internet connection. A slow connection or high noise on the line may cause errors so consult your ATM company or your computer people prior to determining the best communication method. We are seeing most new ATMs deployed these days are using the latest wireless communication systems which are available for lease for less than the cost of a phone line. Ask your ATM company about the wireless communication options available for your ATM.

How Can an ATM Machine Attract Business?

We have all been in the situation where we have run out of money and need to fill our wallets or purse with cash. Credit and debit cards are almost accepted everywhere but nothing is better than having physical cash. Install an ATM machine to attract business and you can help provide people with easy access to cash.

Did you know that there are a variety of ways to attract business and make more money when you install an ATM machine into your business? Businesses owners are unaware of the benefits of owning an ATM machine.

 What are the Benefits of having an ATM?

How Can an ATM Machine Attract Business?

ATM machines are great additions to a business because they can naturally attract customers inside. When a sign is posted outside indicating that an establishment has an ATM machine you draw in more people to visit your store.

People will casually walk in just to get some cash and often will make a small purchase. This can help increase business since a lot of people will visit in a given day just to withdraw some cash.

Psychologically, immediately after someone withdraws funds and has cash in their pocket, they are more likely to spend it right away. Spontaneous shopping happens more often after a person adds more money to their wallet.

It is very common that once people get out cash using your ATM they feel the urge to spend some of the money they just withdrew, this often leads to impulse buying which would be spent in your store..

One cleaver trick that works well is to place the ATM machine in an area of the store where you often display specials or bargains you’re promoting, this encourages spontaneous shopping.  Small businesses find that after an ATM machine is installed they make hundreds of dollars in profits every week as a result.

Large businesses and certain types of businesses notice profits often increase dramatically from having an ATM machine available. Most of the time when people withdraw cash they like to break it down into smaller bills. When receiving a few twenties that an ATM typically dispenses customers like to have smaller increments and are likely to make a purchase to facilitate making change.  Customer that withdraw money are therefor more likely to buy something from your store if they need to break down a large bill.

Convenience stores, small markets, and similar businesses can profit considerably from many small transactions a day. A customer is more likely to purchase additional items when they need to break down larger bills so the potential to earn increases.

As the owner or operator of an ATM you also profit from the commission you receive on every ATM transaction that takes place on your machine. So even if people do not spend any money inside your business you are still generating a profit from the small space an ATM uses.

Customers opt for an ATM machine as opposed to using credit cards more often to avoid credit card charges and interest payments. Between 40% – 70% of credit card charges performed are done with a bank debit card and merchants are paying a high percentage to accept this type of payment. Offsetting Credit Card Fees alone is another way to convert fees paid into money made.

An ATM machine is a profitable investment for a business in many ways. If a community or shopping area lacks ATM machines and you install one, other businesses will send people into your store when their customers ask where the closest ATM machine is. You’ll be the business that has the solution to everyone’s need for cash.

Consider installing an ATM machine to help your business attract more customers and produce more profits daily, weekly, and monthly. You’ll be surprised at the amount of additional income once you add a new machine to your business, just remember to make people aware of its presence.