Merchants – Here’s How You Can Reduce Credit Card Processing Fees With an ATM Machine

If you are a merchant that accepts credit cards, you more than likely get charged a transaction fee every time someone pays you with a credit card. On top of that, you probably pay a processing fee of between 1% and 3% of the purchase.

If your business does even average credit card volume, when you add in the “miscellaneous fees” that many credit card companies charge you, like statement fees, service fees, etc., you could easily end up paying $500-$1000 or more just to accept credit cards from your customers.

One way of reducing the monthly credit card processing fees that you pay to your credit card company every month is by having an ATM in your business.

With an ATM machine, there are no processing fees like there are with a credit card terminal. Instead, you earn money every time someone gets cash from your ATM. The owner of the cash machine gets to keep the transaction fee (usually around $2.00 per transaction) or surcharge profits from the machine every month.

How does having an ATM reduce credit card processing fees?

People need cash. And instead of standing in line at the bank the way they used to, they get cash from privately-owned ATMs when they are doing things like shopping, getting gas, or running other errands.

By offering ATM services, you are encouraging your customers to get cash, and pay you with cash. And with more customers paying you with cash, you will see fewer credit card transactions, which means reducing your credit card processing fees.

In fact, many businesses accepting credit cards that end up getting an ATM machine have reported that their credit card processing fees have dropped by 25% or more!

Plus, when customers withdraw cash from your ATM, they will typically end up spending some of that cash in the business on things like coffee, cigarettes, or snacks. In locations like bars and nightclubs, much of the cash withdrawn from the ATM gets spent in the business.

To learn more about the benefits of ATM machines, download our Free Special Report, “The Benefits Of Owning An ATM” []

Source by Keith Daggett

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