BFC Enterprises

Why Businesses Need an ATM in 2026

Tue, 16 Dec 2025 18:57:48 GMT

With so many different ways to pay today, it’s easy to assume cash is fading fast. The reality? Cash is very much alive and remains a critical part of consumer payment behavior, and businesses that ignore it risk higher costs, lost sales, and reduce customer access.

The future of payments isn’t cashless – it’s hybrid. Businesses that support both digital payments and cash access are better positioned for profitability, resilience, and customer satisfaction. And one of the simplest ways to achieve that balance is with an on-site ATM.

Cash Remains Widely Used

Despite the growth of mobile wallets and contactless payments, cash continues to play a major role in everyday transactions. According to the latest Federal Reserve Diary of Payment Choice :

Nearly 80% of Americans carry cash.
83% of adults use cash at least once a month.
Over 90% intend to continue using cash.

Cash usage is especially important for lower-income, unbanked or underbanked, and older Americans. Households earning under $25,000 use cash for roughly 24% of their payments, and older Americans rely on cash more frequently than younger generations.

Recognizing the importance of payment choice, states including Colorado, Connecticut, Delaware, Massachusetts, Montana, New Jersey, New York, and Rhode Island now require businesses to accept cash . These laws reinforce cash’s relevance and protect access for consumers who depend on it.

The bottom line: even as digital payments grow, cash continues to deliver real value, particularly where speed, accessibility, and customer flow matter.

How Businesses Benefit from Having an ATM

ATMs Reduce Payment Processing Costs

Taking credit and debit cards is expensive and rising credit and debit card processing fees can eat into merchant margins. As a result, many businesses are adopting cash discounting or dual pricing programs, offering lower prices for cash while incorporating processing costs into card transactions.

An on-site ATM makes these merchant services programs more effective by giving customers immediate access to cash – reducing card volume, eliminating chargebacks, and often drives instant in-store spending, without adding operational complexity.

ATMs Increase Sales & Improve Margins

On-site ATMs don’t just provide convenience – they actively drive spending. When customers have cash in hand, they are more likely to make impulse purchases, tip more generously, and complete transactions without hesitation, especially for in-person, small-ticket transactions.

Research from Javelin Strategy & Research shows that about 40% of customers who use an in-store ATM spend at least half of that withdrawal on site, directly increasing sales. This “withdraw-and-spend” behavior turns ATM access into a revenue accelerator, not just a service feature.

ATMs Drive Foot Traffic and Customer Loyalty

ATMs aren’t just convenience features – they remain reliable profit centers that help businesses attract repeat customers. Industry analysis shows that consumers are creatures of habit, frequently returning to the same, familiar ATMs for withdrawals. This habitual usage creates a steady stream of surcharge revenue with minimal effort, while positioning the host business as a trusted, go-to cash destination.

Convenience also plays a critical role in driving foot traffic. Whether customers need cash quickly, experience an “emergency cash” moment, or simply prefer familiar locations, an on-site ATM draws people in – and keeps them coming back, building customer loyalty.

ATMs Create Passive, Low-Effort Revenue

An on-site ATM also provides businesses with a simple way to earn recurring, passive income without requiring additional staff, inventory, or sales effort – making having an ATM on-site is one of the lowest-maintenance profit centers available to brick-and-mortar businesses.

The Role of ATMs in a Hybrid Payments Future

Consumers use a mix of cash, cards, and digital wallets. This coexistence makes payment choice essential for businesses . ATMs support this ecosystem by ensuring cash remains readily available alongside cards and mobile wallets, allowing merchants to serve the broadest possible customer base without forcing a single payment method.

Payment choice also play a critical role in business resilience. Disruptions – whether caused by network outages, system failures, or natural disasters – can quickly halt card and digital transactions. The Federal Reserve and industry analyses consistently highlight cash’s role as a backup payment method during disruptions, reinforcing why ATMs remain an important part of continuity planning.

In a hybrid payments future, ATMs are not legacy infrastructure – they are a strategic asset that helps businesses stay flexible, inclusive, and operational under any conditions.

ATMs: A Smart Business Investment in 2026

The question for businesses isn’t whether digital payments matter – they do. The smarter question is whether your business is equipped to serve all customers, control costs, and stay resilient in a complex payments environment. As consumer behavior, legislation, and economics make clear, cash remains a vital part of the payment mix, and businesses that provide convenient access to it are better positioned to compete.

An on-site ATM delivers measurable value: lower processing costs , increased sales , higher foot traffic , improved customer loyalty , and a reliable stream of passive income – all while supporting payment choice and business continuity. ATMs are strategic assets that help businesses stay profitable, inclusive, and operational no matter how or when customers choose to pay.

Contact us today to find out if your business qualifies for a FREE ATM.

�� (314) 961-9000 �� bfcenterprises.com/contact

Low Risk. No Cost. Real Results: The Case for Amusement Game Placement

Mon, 15 Dec 2025 21:27:04 GMT

In a business climate where every penny counts and competition for consumer attention is fierce, small business owners are constantly exploring ways to boost revenue without adding overhead or operational headaches. That’s where amusement game placement stands out. It’s a low-risk, no-cost solution that delivers real, measurable results – especially in locations where people naturally gather, wait, or socialize .

During the course of our 70+ years in business , we’ve seen firsthand how strategic game placement increases foot traffic and customer dwell time while c reating sustainable passive revenue streams that support long-term growth.

And it’s not just traditional locations like family entertainment centers and arcades that benefit. Amusement games perform just as well in non-traditional locations, such as bars , breweries , and restaurants , where they encourage guests to stay longer and spend more. Bowling alleys and movie theaters benefit by capturing pre- and post-event traffic with easy impulse play, while convenience stores , truck stops , and travel centers are able to turn quick stops into repeat visits. Even laundromats and car washes benefit by transforming idle time into entertainment – and profit.

If people are already there, amusements give them a reason to stay, play, and spend. And if your space has foot traffic and just a few square feet to spare, amusement games can become a consistent, reliable source of passive income.

LET’S BREAK DOWN HOW BUSINESSES REAPS THE BENEFITS OF AMUSEMENT GAMES

No Cost to You – Seriously

One of the most compelling reasons to consider amusement games is the financial simplicity of the model. With free placement programs , BFC Enterprises provides the games – you provide the space. We handle installation, maintenance, and regular service. That means:

No upfront investment
No capital expenditure
No extra staffing requirements

Passive Revenue that Adds Up

Amusement games do more than just entertain – they generate consistent income. Whether it’s a classic arcade game, claw machine, or interactive game station, these devices:

Capture consumer interest in-venue
Encourage repeat interactions
Produce per-play earnings with virtually no ongoing effort

Over time, these small interactions turn into meaningful revenue contributions, especially when stacked across multiple machines or high-traffic locations.

Increased Dwell Time = Bigger Sales

Games don’t just earn money on their own – they influence customer behavior in ways that benefit your entire operation. Guests who stop to play tend to linger longer, which correlates with higher food, beverage, and merchandise spend. Studies show that the longer customers stay, the more they’re likely to purchase – transforming entertainment into an indirect driver of:

Higher average check totals
More frequent visits
Improved customer satisfaction

Real Results You Can Measure

Earning money is one thing – understanding how and why you’re earning it is another. BFC Enterprises’ programs come with clear tracking and reporting, so you can see:

Revenue by game
Play counts
High-performing units
Monthly earnings summaries

Built-In Seasonal Strength

While many revenue lines fluctuate with the calendar, amusement games perform year-round, helping to:

Combat slow months after the holidays
Drive revenue during off-peak hours
Engage families and groups on weekends
Support events and promotions

Competitive Advantage for Your Venue

Today’s customers are looking for more than just a product or service – they want experiences. Whether it’s a bar, restaurant, bowling alley, family entertainment center, or any venue that welcomes guests, adding amusement games:

Enhances the guest experience
Makes your venue more memorable
Encourages word-of-mouth referrals

�� Make 2026 the Year of Passive Revenue Growth

At BFC Enterprises, we’re committed to helping businesses succeed with zero risk and measurable results . If you’re ready to unlock low-risk, no-cost, real revenue without the burden of equipment ownership or staff training – amusement game placement is your opportunity for growth

How BFC Enterprises Helped One Bowling Alley Owner Turned Fun into Profit

Tue, 04 Nov 2025 17:41:52 GMT

When a bowling alley owner in Illinois wanted to expand his offerings and keep guests on-site longer, he turned to BFC Enterprises – the experts in amusement game placement .

He’d noticed something many owners do: bowlers were finishing their games, grabbing a quick drink, and heading out. He wanted to change that – to give customers more reasons to stay, play, and spend.

The Solution: Amusement Games

With BFC Enterprises’ help, he added a mix of sports and prize-based games designed to fit his space and audience. From basketball arcades to claw machines, the new lineup instantly added energy to his lanes.

Families now hang around for “one more game.” Kids drag parents to the prize machines. Adults turn friendly competition into extra rounds at the bar. The atmosphere feels livelier – and the registers show it.

Why He Loves Working with BFC Enterprises

For this bowling alley owner, the biggest win was how easy it was:

Installation Handled Start to Finish
Game Rotation to Keep Things Fresh
Prize Fulfillment and Restocking Done Automatically
Maintenance and Repairs Handled by BFC EnterpriseTechs

No stress, no upkeep – just steady profits and happy customers.

Now his bowling alley isn’t just a place to bowl – it’s a destination for fun.

Ready to see what the amusement game experts with BFC Enterprise can do for your business?

How BFC Enterprises Helps You Choose Games That Keep Customers Playing

Mon, 27 Oct 2025 15:58:13 GMT

by Todd Farbe r , Owner/CEO, BFC Enterprises

If you run a bowling alley, sports complex, restaurant, bar, or mall, you know how important it is to keep customers entertained while they're at your location. The longer people stick around, the more they spend, and the more likely they are to come back. That's where amusement games come in.

But here's the thing: not just any game will work in your space. The claw machine that kills it at a family pizza place might sit untouched in a sports bar. The racing simulator that draws crowds at a bowling alley could be totally wrong for a laundromat. Choosing the right games takes experience, data, and a deep understanding of what makes customers want to play.

That's exactly why partnering with BFC Enterprises to select and manage your amusement games is a smart move. You get expertly matched equipment that maximizes fun, keeps customers engaged, and hits your revenue goals, without any of the guesswork or hassle.

Game Selection Backed by Real Experience

BFC Enterprises has spent decades placing games in all kinds of business environments. We've seen what works in shopping centers versus family restaurants. We know which games draw teenagers at youth sports facilities and which ones keep adults entertained at bars while they wait for their food.

When we evaluate your location, we're looking at your customer base, your foot traffic patterns, and your available space. We're thinking about who's walking through your doors, how long they typically stay, and what kind of entertainment matches their vibe. Then we match game styles to those factors for optimal performance.

You shouldn't have to figure this out through expensive trial and error. We already know what works.

Maximize Play and Profit

Here's a truth every business owner should know: not all amusement games perform equally in every location. Some games get tons of attention and consistent play. Others just take up space.

We use data and hands-on experience to choose games that will actually get played. We place the ones that grab attention, generate consistent activity, and deliver the highest revenue return. This means more passive income for you without spending months testing different machines to see what sticks.

Think of it this way: we're not just dropping random equipment in your location and hoping for the best. We're strategically placing proven performers that match your specific environment. That's the difference between a few extra bucks a month and a meaningful revenue stream.

Regular Rotation Without the Hassle

Even the best games can get stale after a while. That's why we don't just set it and forget it.

BFC Enterprises actively monitors game performance at your location. When we notice engagement dropping or when there's an opportunity to refresh things, we rotate games to keep your customers interested and having fun. We also select seasonal prizes that keep people playing longer and coming back to see what's new.

The best part? You don’t have to track any of this yourself. We handle the strategy, the swaps, and the prize selection. Your customers stay entertained, and you keep earning, all without lifting a finger.

Full-Service Support You Can Count On

When you partner with BFC Enterprises , you're not just getting equipment delivered and left behind. You're getting complete, ongoing support.

We handle compatibility issues, maintenance, prize stocking, and repairs. If something breaks, you're not scrambling to fix it or figure out who to call. Our team takes care of everything while you focus on what you do best – serving your customers and running your business.

This is truly passive income. No headaches, no technical problems to solve, no wondering if you picked the right equipment. Just steady earnings from games that work.

The Bottom Line

Adding amusement games to your location is a smart way to increase customer engagement, extend dwell time, and create an additional revenue stream. But only if you choose the right games and manage them properly.

When you partner with BFC Enterprises, you get the best-performing, highest-return amusement setup – customized specifically to your business and your customers – without any of the work. We bring the expertise, the equipment, and the ongoing support. You bring the space and the customers. Together, we create more fun, more engagement, and more profit.

Ready to get started? Contact BFC Enterprises today and let's build the perfect amusement game setup for your location.

�� (314) 961-9000 �� bfcenterprises.com/contact

How an On-Site ATM Can Help Restaurants Keep Their Best Servers

Thu, 09 Oct 2025 20:20:55 GMT

Inflation continues to squeeze American households, and one of the first luxuries many families cut back on is eating out.

According to the U.S. Department of Agriculture , prices for fast food, takeout, and restaurant meals rose 3.9% year over year as of mid-2025, while grocery prices increased only 1.7% over the same period. Over half of American (59%) report dining out less often and when they do they are spending 30% less due to inflation and reduced disposable income.

For restaurants and bars, that means tighter margins and greater competition for both customers and staff. For wait staff, which already cite low pay and lack of benefits for high turnover rates, that means they are taking home less today than they were pre-COVID.

Why Staffing is Still a Struggle for Bars & Restaurants

Back in 2021, when expanded unemployment benefits ended for nearly 8 million Americans, many assumed restaurant jobs would quickly bounce back. But the service sector still faces steep labor shortages.

To compete, many restaurants have raised base pay , introduced 401(k) matches, added childcare benefits, and even started offering healthcare coverage. Yet one often overlooked factor still affects day-to-day satisfaction for servers: how fast and how fairly they receive their tips.

Why Wait Staff Prefer Cash Tips

While many assume restaurant servers prefer cash tips because it allows them to hide their income, the statics tell a different story.

Immediate Access to Income: When patrons tip in cash, servers receive that money instantly. Card tips often take a week or two to process. According to PYMNTS , 62% of restaurant workers prefer same-day tip payouts, and 37% want their tips immediately. For many hourly workers, that difference can be the deciding factor between paying bills on time or falling behind.
Avoiding Credit Card Processing Fees: Most diners don’t realize that when they leave a tip on a credit or debit card, the restaurant pays processing fees, and those can legally be deducted from the server’s earnings. So, your generous 20% might end up a little lighter by the time it reaches your server.
Control Over Tip-Outs: Servers don’t keep every dollar they earn. They “tip out” bussers, bartenders, hosts, and support staff. With card tips, the restaurant’s POS system may automatically deduct those amounts. With cash, servers have control and flexibility – rewarding those who help most, and ensuring fairness across shifts.
The Psychological Boost : There’s something powerful about counting your earnings at the end of a shift. Real cash provides instant feedback and motivation – a tangible sign that great service pays off.

For restaurant owners, encouraging cash tips by having an ATM on-site offers convenient access to cash for customers for tips and to pay for meals, while boosting morale for staff, and owners gain a competitive advantage when it comes to attracting and keeping good staff.

On-Site ATM = Additional Revenue

But there are other benefits as well. In addition to happier staff and a competitive staffing advantage, installing an ATM inside your restaurant or bar adds a new revenue stream – without the hassle of having to maintain it or load cash. Full-service ATM companies, like BFC Enterprises , will purchase the ATM, take care of all maintenance and share a portion of surcharge fees with the business. That creates a small but steady passive income stream on top of regular sales.

The Bottom Line

Inflation has made it harder for consumers to dine out – harder for restaurants to hold onto their best people and more difficult for servers to make ends meet. An on-site ATM is a simple, low-cost solution that benefits everyone:

�� Customers can easily tip in cash.

�� Servers feel appreciated and take home more pay.

�� Restaurant and bar owners boost retention and gain passive revenue.

When margins are tight and turnover is expensive, small details like cash access can make a big difference.

�� (314) 961-9000 �� bfcenterprises.com/contact

Football Season Is Here: Is Your Bar Game-Ready?

Fri, 29 Aug 2025 16:05:13 GMT

The other day, I spotted someone wearing a shirt that read, “Fantasy Football Widow” – and it made me laugh. But it also reminded me: football season is in full swing.

Across the country, people are gathering in bars, pubs, and restaurants to catch the game, connect with friends, and enjoy a cold drink. For many businesses, football season means packed tables, buzzing TVs, and higher tabs. But if your bar isn’t seeing that kind of action, it may be time to rethink your game plan – literally.

Adding amusement games can transform your space into a destination, drawing in new customers and encouraging existing ones to stay longer – even after the final whistle.

Here are three amusements, we recommend bar and pub owners consider adding and why:

Pool Tables: A Year-Round Classic

Pool tables remain one of the most popular and profitable amusements in the U.S., with over 46 million players annually.

Why it Works:

Pool draws in both casual players and serious competitors
Great for game day and slow nights
Hosting tournaments or forming a league builds loyalty and repeat traffic

�� Pro-Tip : A well-placed pool table can turn downtime between games into extra dollars for your bar.

Digital Darts: Modern, Competitive, Social

The latest generation of digital dartboards, like the Arachnid Galaxy Fire, blends classic gameplay with modern tech.

Why it Works:

Supports 1 to 8 players – perfect for groups
Internet-connected for local and global league play
Easy for beginners, exciting for pros

�� Pro-Tip : Darts are compact, competitive, and community-building – everything a bar wants during football season and beyond.

Golden Tee Live: The Ultimate Virtual Golf Game

Golden Tee is a staple in bars for a reason. With 30+ years of popularity, it attracts players of all ages and skill levels.

Why it Works:

Fresh content with new courses and characters (hello, John Daly!)
Supports local and national tournaments
Fast-paced, fun, and highly addictive

�� Pro-Tip : Run a weekly tournament, and suddenly, your “Tuesday night” becomes “Golden Tee Night.”

But the fun doesn’t have to be just centered around football. Adding a TouchTunes jukebox or interactive sports games helps create an entertaining environment that makes your bar the go-to spot – even on the rare night when football isn’t on.

Final Play: Keep Patrons Longer, Boost Revenue

Amusement games aren’t just about fun – they’re about increasing dwell time, maximizing spend per visit, and creating a community inside your business. When customers stick around after the game to shoot pool or challenge friends to a digital dart match, you win too.

Want to bring amusements into your business?

Contact BFC Enterprises ! We’ll handle setup, service, and prize stocking – and there is no cost to you. You focus on pouring the beer and catching the score, we’ll focus on the amusements.

The 4 Most Popular Amusements That Drive Revenue for Your Bar

Sun, 17 Aug 2025 15:28:11 GMT

As a bar owner, operator, or manager, you know creating an engaging atmosphere is crucial for customer retention and revenue growth. Beyond great drinks and service, strategic entertainment options can transform your establishment into a destination that keeps patrons coming back, and spending more. The right amusements don't just entertain; they extend visit duration, encourage repeat business, and create additional revenue streams.

Let's explore the four most popular bar amusements that successful establishments use to maximize earnings and enhance customer experience.

1. Jukebox: The Soundtrack to Success

The jukebox remains a timeless favorite that gives bar patrons control over their entertainment experience. Modern digital jukeboxes offer vast music libraries spanning every genre and generation, ensuring something for every patron.

Why Jukeboxes are Popular in Bars:

Creates a personalized atmosphere that reflects your clientele
Generates consistent revenue through song selections
Builds customer engagement as patrons curate their evening's soundtrack
Appeals to all age groups with diverse music options

How Jukeboxes Benefit Your Bar:

Jukeboxes encourage longer stays as customers wait to hear their selected songs, naturally increasing food and beverage consumption. The interactive element creates a social experience, with patrons discussing music choices and making requests for each other.

2. Pool Table: Classic Competition That Builds Community

Pool tables transform casual drinks into competitive social events. They're particularly effective at attracting groups and encouraging friendly competition that extends visit times significantly.

Why Pool Tables Drive Success for Bars:

Creates natural gathering spaces for groups
Encourages longer stays through game tournaments
Appeals to a broad demographic
Generates steady revenue through game fees

How Pool Tables Benefit Your Bar:

Pool tables excel at building regular customer bases. Tournament nights and leagues create recurring revenue while fostering community connections. The extended gameplay naturally increases beverage orders as players settle in for multiple rounds.

3. Crane Machine: Customizable Prize Entertainment

Modern crane machines offer endless customization possibilities, allowing you to tailor prizes to your specific location and patron preferences. Whether it's local team merchandise for a sports bar or trendy items for a younger crowd, crane machines create excitement and anticipation.

Why Crane Machines are Winning Amusements for Bars:

Highly customizable to match your clientele
Creates social media moments with prize wins
Appeals to competitive instincts
Offers immediate gratification through prizes

Building a Winning Strategic Benefit with Crane Machines for Your Bar:

The key to crane machine success lies in matching merchandise to your location. Sports bars might feature team gear, while trendy establishments could offer tech accessories or novelty items. This customization ensures maximum appeal and revenue generation.

4. Sports Games: Active Entertainment That Energizes Your Space

Basketball shootouts, ice ball games, and golf simulators bring active entertainment to your establishment. These machines create energy and excitement that's contagious throughout your space.

Why Sports Games Score Big in Bars:

Generate high-energy atmosphere
Create spectator entertainment beyond players
Appeal to competitive customers
Offer skill-based challenges that encourage repeat attempts

How Sports Games Provide a Strategic Advantage for Your Bar:

Sports games naturally create crowds as other patrons watch and cheer. This social element builds atmosphere while the competitive nature encourages multiple plays as customers attempt to beat high scores or challenge friends.

Maximizing Your Bar’s Amusement Investment

Success with bar amusements requires strategic thinking beyond simply installing machines. The most profitable establishments work with professional amusement experts to customize their entertainment mix to match their specific location, clientele, and atmosphere goals.

Location Customization is Crucial . A neighborhood sports bar needs different entertainment than an upscale cocktail lounge. Understanding your customer base ensures maximum engagement and revenue generation.
Payment Flexibility Matters . Modern customers expect options. Offering cashless, card, and traditional cash payment methods ensures no customer is excluded from entertainment options. This payment flexibility directly translates to increased usage and revenue.
Stay Ahead of Trends . Entertainment preferences evolve rapidly. Successful bar owners regularly evaluate and update their amusement offerings to maintain customer interest and maximize earnings.

Don't Forget the ATM

Regardless of whether you choose cashless amusement systems, maintaining ATM access remains essential. Customers need cash for tips, small purchases, or establishments that haven't fully adopted cashless systems. An on-site ATM provides convenience while generating additional revenue through transaction fees.

Partner with Amusement Experts for Winning Results

Managing amusements effectively requires expertise in machine selection, merchandise curation, trend monitoring, and maintenance. The most successful bar owners partner with experienced amusement companies that offer comprehensive, turn-key services.

The right partner helps you maximize play time and earnings through strategic machine placement, optimal merchandise selection, and proactive trend management. They handle the details while you focus on running your bar.

Your entertainment choices directly impact customer satisfaction, visit duration, and revenue generation. Choose wisely, customize strategically, and watch your establishment become the destination customers choose again and again.

Contact BFC Enterprises to get started with your amusements and ATMs today!

How the Push to Ban Cashless Businesses Protects Unbanked Households and Small Business Owners

Sun, 03 Aug 2025 17:48:19 GMT

In July. U.S. Senators John Fetterman (D-PA) and Kevin Cramer (R-ND) introduced the Payment Choice Act in the Senate to preserve payment options for consumers. A companion bill to the House version introduced by Congressmen John Rose (R-TN) and Glenn Ivey (D-MD) earlier this year, t his bipartisan legislation ensures customers can use cash as a form of payment and are able to do so without being charged higher prices.

In an opinion piece , published July 24 by Fox News , journalist Ted Jenkin explains why Senators Fetterman and Cramer are 100% right to push to ban cashless stores and why moving towards a fully cashless society doesn’t just inconvenience people – it hurts them. It widens the wealth gap, excludes millions from daily commerce and puts Main Street businesses at a competitive disadvantage.

When Fetterman says , "It’s simple – it’s legal tender. If you accept money, you have to accept all money," he’s not just making a populist statement. He’s standing up for every American who gets punished simply for trying to pay with the money they earned.

Cashless Policies Punish the Working Class

5.9 million U.S. households are unbanked (FDIC).
18.7 million more are underbanked, relying on check cashers, prepaid cards and money orders.
13% of Americans use cash for all or most purchases.
Nearly 40% of Americans couldn’t cover a $400 emergency.

When a store refuses cash, it’s essentially telling millions of people – especially seniors, low-income earners and minorities – that their money isn’t welcome. As the Pennsylvania senator put it, "We can’t let stores discriminate against people just because they don’t have a credit card or a smartphone."

Cashless = Classless

This push toward a cashless economy is driven by tech elites who assume everyone has digital access. Aren’t you sick and tired of the guilt tipping button that now asks you for 20 or 25 or 30% tip with a server watching over you to see what you are going to give them. But this isn’t Silicon Valley – it’s America. Here, you should be able to buy lunch or medicine with a few bucks in your pocket.

And for many Americans, cash isn’t optional – it’s essential.

Why It’s Bad for Business

As someone who works with business owners every day and having owned a concrete driveway installation company, I can tell you, going cashless is bad for business. Here's why:

Swipe Fees Eat Margins Every card transaction costs businesses 1.5% to 3.5%. On tight margins, that’s real money – especially in food, retail and service sectors.
Fewer Impulse Buys Studies show people are more thoughtful when using cash. That’s good for consumers – and helps prevent overreliance on credit.
System Outages Kill Sales When the power goes out or internet fails – like during the 2021 Texas storm – only businesses accepting cash could stay open. In emergencies, cash is king.
Customer Loss Many older adults and working-class families still use cash daily. Turning them away is just bad business.

Privacy and Surveillance Concerns

Every digital transaction is tracked. Your location, purchases and habits are cataloged and monetized by Big Tech and banks .

Cash, on the other hand, protects privacy. No monthly statements, no tracking, no algorithms. The more we give up cash, the more control we give away – to institutions that charge fees, track behavior and limit access.

The Federal Fix: A Simple Ban on Refusing Cash

Cities like Philadelphia, San Francisco and New York have already banned cashless-only retail. It’s time to go national.

Fetterman’s proposed federal law would:

Require all physical stores to accept U.S. currency.
Impose penalties on violators.
Allow exceptions for online-only or high-security federal locations.

It’s not about resisting innovation – it’s about ensuring inclusion. Legal tender should mean what it says: legal for all debts, public and private.

Final Thought: Cash Is Economic Freedom

Once we lose cash, we lose a piece of our freedom. We become more dependent on banks, apps and companies that profit off our transactions and control access to our own money.

Fetterman nailed it: "We’re going to keep pushing until every American – regardless of income – can walk into a store and buy what they need with a few bucks in their pocket." He’s right. And if we care about fairness, privacy and keeping Main Street open to all, we need to get behind him.

Because cash isn’t just currency. It’s economic liberty – and it’s worth protecting.

The bipartisan Payment Choice Act is supported by BFC Enterprises and a variety of trade groups including The National ATM Council , ATM Industry Association , American Bankers Association, The Amusement and Music Operators Association (AMOA), Secure Cash & Transport Association and the National Armored Car Association.

5 Businesses That Need An ATM

Sun, 06 Jul 2025 23:19:09 GMT

Despite the increasing array of payment methods available today, cash is still very much alive. With over $2.3 trillion in U.S. physical currency in circulation, cash ranks as the third most popular payment method just behind debit and credit cards.

While payment trends evolve, cash remains a top choice – especially among Millennials and Baby Boomers – who continue to rely on it for everyday transactions, according to the Federal Reserve Diary of Consumer Payment Choice .

Armed with this data, here are the five businesses that can benefit the most from having convenient ATM access for customers:

Convenience Stores

In a recent state of the industry report , the convenience store industry in the U.S. are thriving with more than 165 million daily visits and in-store sales reaching $335.5 billion in 2024, driven largely by foodservice growth. Despite digital payment trends, 94% of Americans use cash when purchasing items from convenience stores. This staggering static makes having an ATM on-site not just a customer convenience, it aligns with consumer behavior for business owners in this industry. With nearly 2/3 of in-store shoppers preferring cash payments , investing in accessible ATMs is a smart move.

Arcades
There is no denying the gaming industry is hot. With more arcades and amusement businesses opening every day – many providing a mix of nostalgic gaming and the quickly evolving VR genre – Millennials and Gen Z are undeniably a huge part of the market. The U.S. arcade gaming market reached $13.61 billion in 2024, is expected to grow modestly to $13.73 billion in 2025 and then rise dramatically by 2029 to $16.36 billion. While card acceptance is increasing at amusement facilities, cash is still the preferred payment method – and owners of any entertainment genre is missing out on sales without convenient, cash acceptance being readily available.

Hair Salons / Barber Shops
Hair care still reigns in the beauty industry as being a lucrative business, with a projected growth rate of 2.6% over the last five years. Hair care tops the beauty industry segments with a solid 950,000 locations in the U.S., according to a 2023 analysis . Hair salons and barber shops are typical small business owners who prefer cash for each transaction – eliminating credit card fees, improved cash flow and can lead to better tipping from clients.

Nail Salons

Similar to hair salon and barbershops, nail salons are small businesses and need the ability to give consumers access to cash. In 2023, $2.83 billion was spent at nail care businesses , and the market is only expected to grow larger with an additional 25,100 manicurists and pedicurists expected to enter the industry by 2033. As the nail salon industry continues to grow, offering easy cash access can help businesses save money, increase tips, and improve customer satisfaction.

Thrift Stores

Most thrift store owners know the profits can be big. TV shows like “Storage Wars” have made that knowledge public. With $17 billion in annual revenues , thrift stores are pulling in big profits one dollar at a time. Consumers love a bargain and thrift stores are known for impulse shopping. Tax season is a huge player in the thrift store game, but thrift stores are known to do well through any economic condition. In great times they get more donations and in lesser times they will make more sales with people pinching every penny. Fees for processing any other method besides cash can pile up on the average store owner. An ATM allows both the customer and business owner to profit on this steady stream of income.

Cash purchases add up to big sales in each of these industries. By supplying customers with convenient access to cash, business owners can take advantage of additional sales.

To learn more about providing customers with ATM services, contact BFC Enterprises today .

Be sure to ask if you qualify for a free, turn-key ATM.

Why ATMs Are Still Relevant for Retail Stores

Fri, 27 Jun 2025 21:48:55 GMT

You’d think that in 2025, ATMs and cash might finally be headed toward obsolescence. With digital payments, contactless transactions, and mobile wallets dominating headlines, it's easy to assume physical currency is becoming a relic of the past. But convenience stores/gas station and retail business owners, who experience consumer payments firsthand, know this narrative is far from the truth.

Cash Use Remains Remarkably Steady

Despite predictions of cash's demise, consumer payment habits tell a different story. According to the 2025 Federal Reserve Diary of Consumer Payment Choice , Americans make an average of seven cash payments per month. This figure has remained remarkably consistent since 2020, proving cash usage isn't disappearing.

Even more telling is cash's ranking among payment methods. Cash has steadily maintained its position as the third most popular payment method in the US, trailing only debit and credit cards. This consistent usage pattern demonstrates the power of cash and that consumers rely on it for a significant portion of their transactions.

Perhaps most importantly for retailers is that U.S. consumers consistently use cash. Eighty three percent of adults, 18 and older use cash at least once a month, according to research from the Atlanta Federal Reserve . This means virtually every customer who walks through your doors is likely to need cash access at some point, making retail ATMs a critical component of customer service.

Economic Pressures Drive Cash Usage

As inflation continues to impact household budgets, studies show consumers are actively seeking ways to control their spending. And for many cash is the solution they turn to. Research from PYMNTS shows budget-minded consumers increasingly turn to cash and debit cards when money is tight. This trend directly benefits retailer who provide easy cash access.

The rise of "cash stuffing" – a budgeting method where consumers allocate specific amounts of cash for different spending categories – has gained significant traction, particularly among younger consumers. This envelope-system approach to budgeting, popularized on social media platforms like TikTok, requires regular access to cash. Customers practicing cash stuffing need convenient ATM access to withdraw their allocated spending money.

For retailers, this represents a clear opportunity. Customers who budget with cash are more likely to make planned purchases and stick to predetermined spending limits, often resulting in more predictable transaction volumes.

Bank Branch Closures Create Access Gaps

The banking landscape continues to evolve, and not always in favor of cash access. S&P Global Market Intelligence reports that the pace of U.S. bank branch closures remains high in 2025, with financial institutions continuing to consolidate their physical presence. These closures directly translate into reduced financial access for consumers in affected communities.

When local bank branches close, consumers lose convenient access to ATMs and cash services. This creates a significant opportunity for convenience store and retail store operators to fill this access gap. A local store's ATM doesn't just provide a service – it becomes an essential financial resource for the community.

The reduction in traditional banking access points makes retail ATMs more valuable than ever. People who previously relied on bank branches to get cash, now depend on retail locations to provide these services. This shift in consumer behavior can drive additional foot traffic to stores that offer reliable ATM access.

Strategic Advantages of Retail ATMs

Retail ATMs serve multiple business purposes beyond simple customer convenience. They generate direct revenue through transaction fees while simultaneously increasing foot traffic to store owners. Customers who visit specifically for ATM access often make additional purchases, boosting overall transaction values.

The key to maximizing these benefits lies in partnering with the right ATM provider. Reliable machines with minimal downtime ensure consistent service for retail customers. Quality ATM partners provide regular maintenance, quick repair times, and robust security features that protect both the business and customers.

Modern retail ATMs also offer enhanced features that improve customer experience. Updated machines with intuitive interfaces, multiple language options, various denomination dispensing capabilities and tap and pay (NFC) capabilities make cash access more convenient for diverse customer bases.

Conclusion

In 2025, the question isn't whether ATMs are still relevant – it's whether your retail store can afford to operate without one.

Despite technological advances in payment processing, cash remains a vital component of consumer spending habits. For convenience stores/gas station or any retail business owner, providing reliable ATM access isn’t just about meeting current customer needs – it’s about positioning your business for continued success in an evolving retail landscape.

Partner with a reliable ATM provider to ensure your store remains an essential resource for retail customers while generating additional revenue streams. Contact BFC Enterprises to get started today!

How Mobile Banking Adoption is Fueling ATM Usage

Thu, 05 Jun 2025 16:30:45 GMT

As mobile banking adoption rises, it’s creating a ripple effect across all banking channels - especially ATMs. Contrary to the popular belief that mobile banking replaces traditional banking touchpoints, the opposite is happening. Recent data shows increased mobile engagement leads to more frequent ATM usage.

According to the Federal Reserve Board’s 2023 Consumers and Mobile Financial Services report, mobile banking has surpassed branches and other traditional channels, with over 48% of U.S. adults preferring mobile access. The trend is even more pronounced among Millennials and Gen Z, with usage rates exceeding 70% in those age groups.

Mobile Banking Drives Higher ATM Usage

A recent Deloitte study found that consumers who use mobile banking are also more likely to use ATMs. Consumers who frequently use mobile banking cite being more comfortable with self-service channels and report using ATMs to withdraw cash, check their account balances and make deposits via advanced ATMs and ITMs. And ATM usage is higher among mobile banking customers. A 2024 survey by PYMNTS revealed that 37% of mobile banking users visit the ATM at least once a week, compared to only 24% of non-mobile users.

Branch Visits Decline, Self-Service Use Climbs

While the traditional bank branch is still important, especially for complex transactions like withdrawing large amounts of cash or obtaining a loan, the reliance on the traditional branch is decreasing rapidly. Consumers report visiting a branch less often and increased interactions with digital tools and ATMs. This shift is prompting financial institutions to rethink their ATM strategies as they seek to balance physical access points while decreasing the cost of operating costly branches.

Why Financial Institutions Must Prioritize ATM Networks

These behavioral shifts underscore the importance of maintaining a reliable ATM network - especially for banks and credit unions looking to attract younger, tech-savvy customers. Strategic deployment through in-house fleets, ATM outsourcing, surcharge-free networks, or well-placed off-premise ATMs - located where account holders work, shop, and live - ensures convenient cash access and provides essential touchpoints that meet customers where they are.

Take the Next Step

The ATM experts at BFC Enterprises can help you expand your reach and improve customer satisfaction with convenient, affordable ATM options .

Contact us today !

Why Financial Institutions Should Brand Off-Site ATMs?

Fri, 09 May 2025 16:27:34 GMT

It’s no secret consumers love convenience. In fact, consumer demand for ATMs is growing, with over 95% of accountholders utilizing ATMs annually, according to CEB TowerGroup. A majority of those same accountholders visit the ATM at least once per week.

However, these users are not relegating themselves to using on-site bank or credit union machines. Their desire for convenience leads them to get cash and check their accounts wherever ATMs are available – including convenience stores, shopping malls, restaurants, bars and other highly frequented locations.

This steady use of independent off-site ATMs means cardholders are exposed to a multitude of messages including advertisements for items sold onsite, additional ATM locations and even branding from other financial institutions. Even those consumers not utilizing the machine are within viewing proximity of ATM advertising every time they visit their favorite haunts.

As consumers have shown they trust branded ATMs over the standard grey box, those machines sporting brands and advertising for banks, credit unions or other trusted brands draw more attention and create greater brand awareness. Studies have shown that branded ATMs generate an increase of 30% or more in transaction volumes – leading to even more full interactions with ATM ads than standard, un-branded machines.

In addition to offering a potentially untapped branding venue, ATMs are also a simple and inexpensive way to reach current and potential cardholders. Costs for ATM branding packages are typically much lower than advertising on television, radio and other traditional venues. According to prominent ATM manufacturer NCR Atleos , ATM advertising has proven to be 65% less expensive and 200% more effective than direct mail.

The machines act as miniature billboards prominently placed in popular hangouts and highly frequented locals such as hotels, gas stations, restaurants and grocery stores. And the fancier the advertising, the more the brand gets noticed. As such, many ATM operators work with their branding partners to provide full color wraps, dynamic screens and brightly lit toppers. Many ATMs will come complete with additional signage where the location allows it – including window signs, decals on doors or in vestibules and other dynamic branding and ATM awareness solutions.

Due to their low costs, high visibility and interactive capabilities, branded ATMs are an ideal choice for financial institutions looking to promote their convenience as well as reach out to new communities.

Ready to explore how branded ATMs can benefit your financial institution? Contact BFC Enterprises today!

How Amusement Games Can Transform Your Retail Space & Drive Foot Traffic

Tue, 22 Apr 2025 23:42:16 GMT

Business owners are constantly searching for innovative ways to attract customers and increase revenue. One strategy that continues to deliver impressive results is the addition of amusement games to retail establishments, restaurants, and community centers. These entertainment options create unique experiences that keep customers coming back and staying longer.

The Power of On-Site Entertainment

When customers visit your establishment, providing them with more than just your primary service creates a memorable experience. Pizza Ranch, a popular Midwest-based pizza buffet chain, discovered this when they began incorporating arcade games into their locations. According to case studies , their locations with gaming areas saw significant increases in both customer retention and overall spending.

How? Amusement games transform ordinary visits into entertainment experiences. A customer who might spend 45 minutes dining could extend their visit to two hours when arcade games are available. This extended stay typically results in additional food and beverage purchases - directly impacting your bottom line.

Driving Foot Traffic Through Gaming

One of the most compelling reasons to add amusement games to your establishment is their proven ability to drive foot traffic. Games attract customers during traditionally slow business periods and can significantly boost weekday visits. Parents seeking activities for children’s birthdays or other events, friends looking for casual entertainment, and families planning weekend outings all gravitate toward venues offering gaming options.

Amusement games also appeal to diverse demographics. Modern arcades feature games that attract everyone from young children to adults, making your establishment a destination for multiple age groups. This broad appeal translates directly into increased foot traffic and customer diversity.

In cases like Pizza Ranch Fun Zones , the appeal for children is especially high. Not only do guests stay longer, children also request to return to the establishment so they can enjoy more game time.

Creating Additional Revenue Streams

Beyond attracting more customers, amusement games provide direct revenue opportunities. Most modern arcade systems use card-based payment rather than coins, creating a seamless experience for customers while generating income through:

Direct game play revenue
Redemption prizes that encourage repeated visits
Increased food and beverage sales during extended stays
Birthday party and event bookings centered around gaming options

The return on investment for quality amusement games is typically realized within months rather than years, especially when properly promoted and maintained.

Building Community Through Shared Experiences

Community centers and family-focused establishments benefit particularly from arcade installations. Games create natural social environments where people interact and form connections. Regular gaming tournaments or special events centered around your arcade can build customer loyalty and community engagement.

For restaurants, amusement games provide entertainment while customers wait for tables or food, turning potential frustration points into enjoyable experiences. This dramatically improves customer satisfaction and reduces perceived wait times.

Implementation Considerations

When adding amusement games to your establishment, consider:

Dedicating the right amount of space based on your business model
Working with reputable vendors who offer game placement, maintenance and can switch out games on demand
Selecting games, in consultation with your provider, that appeal to your target demographic
Creating promotional strategies that highlight your gaming options

The Bottom Line

The addition of amusement games to retail spaces, restaurants, and community centers represents a strategic investment in customer experience. These entertainment options drive foot traffic, increase visit duration, generate additional revenue, and create memorable experiences that build customer loyalty.

As demonstrated by success stories like Pizza Ranch, the right mix of quality gaming options can transform an ordinary retail establishment into a destination location where customers choose to spend their time and money. In today's experience-focused market, providing entertainment value alongside your primary offerings isn't just smart business, it's increasingly becoming an expectation.

Contact the amusement game experts at BFC Enterprises today!

Discover how you can turn your establishment into a gaming destination.

Why Cities & States are Pushing Back Against the Cashless Trend

Tue, 08 Apr 2025 18:16:52 GMT

With no federal law in place that requires private businesses to accept cash , a number of U.S. cities and states have taken steps in recent years to halt the movement towards a cashless society – and most importantly ensure low-income consumers, that don’t have access to traditional banking services, can fully participate in the economy.

In 2022, Colorado passed a law that requires retailers to accept cash. They joined New Jersey, Rhode Island, the District of Columbia, Philadelphia , San Francisco and New York City which passed laws between 2019 and 2020 in prohibiting most businesses from refusing cash for in-person payments. Massachusetts has required retailers to accept cash since 1978.

Proponents of these laws argue cashless stores discriminate against the underbanked and poorer members of society that do not have access to bank accounts or credit/debit cards – and rely on cash to buy vital goods and services.

In addition to discrimination issues, cash is still a favored payment options for U.S. consumers despite the rise in credit/debit card and digital payment option. According to the Federal Reserve's 2024 Diary of Consumer Payment Choice , cash accounted for 16% of all consumer payments in 2023. Consumers under 55 using cash for 12% of their payments and those 55 and older using cash 22% of the time, according to a 2021 FDIC report .

Why the Cashless Trend is Bad for Business

Retailers and merchants who lean toward the cashless trend stand to alienate a large portion of their customers:

Unbanked & Low-Income Consumers . Many U.S. citizens are still unaffiliated with a bank or credit union. Whether by choice, geographic location or socioeconomic factors, 18.6% Americans or approximately 24.6 million Americans are unbanked or underbanked and primarily deal solely in cash, according to a 2021 Federal Deposit Insurance Corporation report. While the number is at a record low, it is still a significant portion of consumers who would be unable to purchase goods or services in a cashless society.
Young Shoppers . Since most credit cards have age limits and some type of income requirement, businesses that push for cashless payments stand to lose a fair number of customers – and profit – based on the age of their shoppers. Debit cards limit younger shoppers as well, since parents must cosign an account for driving age students, and anyone under the age of 15 is banned from opening a checking account – leaving children who’ve received cash gifts or mow lawns for pocket money unable to make purchases of any kind.
Customers with Privacy Concerns . Many Americans use cash for small purchases and/or sensitive transactions. It is unsettling for some to think every purchase is being tracked and monitored. In addition, Americans have suffered through several security breaches at large corporations leaving consumers understandably hesitant to share their digital information

Every U.S. bank note is printed with the words: “ This note is legal tender for all debts, public and private .” In a society that limits the use of cash, this would make those words meaningless… and would lock out a number of consumers from making purchases.

Giver your Customers the Freedom of Payment Choice and Easy Cash Access!

Contact BFC Enterprises today to get an ATM for your business. You may qualify for a free, turn-key ATM!

ATM Anti-Crime Bill Reintroduced in Congress

Wed, 05 Mar 2025 19:18:07 GMT

Congressmen John Rose (TN-06), Glenn Ivey (MD-04), and Scott Fitzgerald (WI-05) recently re-introduced the bipartisan Safe Access to Cash Act to combat crimes against or involving ATMs including – theft, robbery, and assault. The bill is crucial to protect public safety and address the ongoing need for safe and secure cash throughout the United States.

The proposed Safe Access to Cash Act would update the 90-year-old Federal Bank Robbery statue to include ATMs not located on a bank or credit union properties.

Bipartisan bill would allow the FBI to investigate all ATM crimes and the U.S. Attorney's Office to prosecute offenders.

Congressional Representatives cite the ongoing need to address public safety and provide all Americans with safe and secure access to cash as crucial issues the bill addresses

“The re-introduction of the Safe Access to Cash Act is crucial to our fight to protect public safety,” said Congressman Glenn Ivey. “This bill continues to address the ongoing need for safe and secure cash throughout America, which is essential for ATM entrepreneurs, small convenient stores, and users. When ATMs are stolen and destroyed, the communities who have little or no credit are adversely impacted due to their reliance on financial transactions and access to money. This reintroduction of this bipartisan legislation will continue to strengthen enforcement to protect our small businesses, individuals, and deter robberies.”

“Independent ATMs serve as a lifeline to the underbanked and those lacking access to traditional financial services,” Congressman John Rose said. “I’m proud to reintroduce this common-sense bill which gives independent ATMs the same federal legal protections under the Bank Robbery Act as other ATMs.”

Congressman Ivey first introduced the bipartisan Safe Access to Cash Act with colleague Congressman John Rose (TN-06) in the 118th Congress. The bill was endorsed by the National ATM Council (NAC), National Armored Car Association (NACA), Secured Cash and Transport Association (SCTA).

“Ensuring that Americans have reliable access to cash is essential for small businesses, rural communities, and individuals who depend on physical currency for their daily transactions,” said Congressman Scott Fitzgerald. “The Safe Access to Cash Act guarantees that non-bank ATMs receive the same federal protections as bank-owned machines, providing much-needed security for the small businesses that host them. This bill is a commonsense measure to safeguard these businesses and to protect consumers’ ability to access their money safely and conveniently.”

“On behalf of NAC, we would like to offer our most sincere thanks and appreciation for the introduction and support this bill affords,” said Bruce Renard, Executive Director of the National ATM Council, Inc. “This bill is crucial in addressing the ongoing need for safe and secure access to cash throughout America. Widespread access to cash remains essential to the daily health and wellbeing of our nation’s economy. Convenient access to cash is, however, being threatened by a huge jump in these crimes without the statutory ability of federal law enforcement to fight back. With the majority of cash withdrawals and a marked growth in overall banking services now happening at ATMs throughout the USA, bringing our 90-year-old federal bank robbery law into the 21st century is more vital than ever.”

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Differentiate Your Business from the Competition by Adding Amusement Games

Fri, 21 Feb 2025 20:25:34 GMT

As we’ve seen with the record number of store closures over the last few years and so much competition ‒ both online and with brick and mortar stores, it can be difficult for small business owners to attract customers and keep them coming back. Luckily, in this technology crazy world we live in, business owners can ramp up their appeal by thinking outside the box.

Adding popular amusement games , can be beneficial to small businesses in many ways:

Increased Foot Traffic . Recent trends show that many people value experience over things, and merchants can incorporate those preferences into their marketing strategy. An arcade or just a game or two, even if the business isn’t geared toward children or teenagers, can create a welcoming atmosphere for families, and keeps kids busy while their parents’ shop.

Improved Profits . Amusement games may not bring in as much profits as other services, but every little bit counts when running a business. In addition to the steady drop of change, family-friendly amenities entice new customers, keep consumers on site longer and help to boost sales.

"Having a fully functioning arcade game or two in your business ‒ no matter if you own a

laundromat, convenience store, a restaurant or bar ‒ will attract new customers, keep them

coming back and differentiate your business from competitors."

Better Reputation . Many small business owners depend on reputation and word of mouth to attract new customers. Games generates enthusiasm with their flashy nature and create excitement lacking in most traditional retailers. Using a little creativity is an excellent way to stand out among the competition.

Thinking outside the box can reap benefits for retailers. Adding amusement games is a terrific way of attracting new customers and differentiating your business from the competition.

For more information about amusement game placements, contact us today !

Why ATMs Matter to Consumers in Today's Economy

Fri, 21 Feb 2025 19:47:16 GMT

Despite what you might hear about how our society is going cashless, ATMs and cash remain vital to Americans’ shopping and money management habits. While digital payments are growing, cash continues to play a crucial role in American’s daily lives – and the most recent data proves it.

Cash Is King for In-Store Shopping

When people shop at physical locations, cash is consistently reported as their top choice for payment . This might come as a surprise given the popularity of cards and electronic payment methods. But there are many reasons why people trust and prefer using physical money over the alternatives. For example, using cash leads to increased awareness over one’s spending habits, and it also eliminates risks of acquiring debt.

Some people like cash because it's private. Unlike digital payments, cash transactions don't leave an electronic trail. Customers and business owners alike appreciate that cash transactions don’t require technology that might fail, need electricity and internet or they have to wait to get paid.

Even though the percentage of cash transactions has slightly decreased (from 25% to 21% since 2020), the actual number of cash transactions has grown by 2.2 million, according to data analyst Harriet Coverly, who reported on the state of cash transactions at the 2025 ATM Industry Association (ATMIA) US conference this February.

How can this be? The answer is simple. With a growing economy, more people and more businesses means more total transactions happening every day. ( Data provided by CMS analytics )

Young People Love Cash Too

Cash has unique benefits that appeal to people of all ages. Older generations often prefer cash because it's familiar and helps them track of spending. Middle-aged shoppers might use it for budgeting or teaching their kids about money. But another surprising fact shown in recent data is that 69% of Generation Z (people born after 1997) are using more cash now than they did last year.

In fact, nearly one in four of Gen Z (23%) use cash for most of their purchases. Young adults appreciate that cash helps them avoid overspending – when the cash is gone, it's gone. These habits that are formed and continually reinforced in the younger generation make for a great forecast regarding the lifespan of cash usage.

Changing ATM Usage Patterns

With all the data considered, it shouldn’t be a surprise that the way people use ATMs is changing as well. While the number of surcharged ATM transactions has been dropping by about 3% each year, people are taking more money out when they visit an ATM. Coverly also reported that the average withdrawal amount has increased by 3.5% since 2022. This suggests that while people might visit ATMs less frequently, they're making their trips count by withdrawing larger amounts of cash.

Why Businesses Should Care About Cash Access

For business owners, offering cash access through ATMs isn't just about convenience – it's smart business. When customers know they can get cash at your location, they're more likely to stop by. According to a Creative Consumer Research survey, nearly three quarters ( 70% ) of retail customers visited a business specifically to use the ATM.

However, once the customer is in your business, they might buy something they hadn't planned on. In fact, studies show around 33% of ATM users end up making a purchase at the location housing the ATM. Much like “free Wi-Fi,” offering an ATM is a feature that has proven to draw people in.

Plus, ATMs can create additional revenue through surcharge fees. When customers use an ATM that's not from their bank, they usually pay a small fee to process the transaction. Business owners share in this fee revenue, creating an extra income stream without requiring more work or inventory.

Looking Ahead

If cash was going anywhere, it would already be long gone. Looking at the trends, while it appears digital payments will continue to grow over the next few years, ATMs and cash will continue to be essential services. Businesses that recognize this can benefit from increased foot traffic and additional revenue streams, while meeting a genuine consumer need. In our increasingly digital world, having the option to use cash provides choice and flexibility that many Americans of all generations still value and actively seek out.

Contact BFC Enterprises today! You may qualify for a free, turn-key ATM!

3 Easy Ways to Increase ATM Transactions

Tue, 07 Jan 2025 23:39:42 GMT

Merchants benefit in numerous ways from having an ATM in the establishment, such as having a higher rate of customer retention, increased foot traffic and higher sales. Convenience is a driving force for consumers, and how you treat your ATM can be just as important as the placement of merchandise. If transactions are lagging, consider these easy adjustments to ensure your ATM continues to be profitable in 2025 and beyond.

Place the ATM in a Highly Visible Spot : Placing your ATM in an easy-to-access location could increase transactions between 25% and 35%. Many businesses place terminals near the door so that customers pass the ATM as they come in and out. Unfortunately, this isn’t possible at all locations due to increasing ATM crime. Merchants can ensure customers are aware of ATM offerings by placing decals on the front door, on the gas pump or by using outdoor signs and flags. Keeping the ATM visible and ensuring customers know you have an ATM benefits both customer and the establishment by encouraging cash usage, and reducing card fees.

Clear the Space Around the ATM : Ultimately, ATMs are placed for profit and customer convenience, not storage. Keeping space clear will enhance the appeal to customers, as well as comply with ADA requirements, which require ATMs to have enough space for a wheelchair to access the terminal without issue. Keeping ample space around the terminal will help customers feel comfortable and make it accessible to everyone.

Wrap the ATM in Attention-Grabbing Graphics : Using branding and graphics can increase ATM profits up to 40%. When a customer trusts the brand displayed, they are more likely to return to the ATM at a later date. Utilizing branding and attention-grabbing graphics on an ATM will draw customer’s attention to the ATM and increasing the volume of transactions. If branding isn’t an option, consider a backlit ATM sign and/or custom screens to draw attention.

ATMs are an extremely convenient commodity that bring in revenue as well as foot traffic. Most people prefer the convenience of an ATM cash withdrawal over a trip to the bank. To get the most out of your terminal, ensure it is in a clear, visible location so customers see signage and graphics.

Contact BFC Enterprises today for more information on ATM placements, branding or managed services. You may also qualify for a free, turn-key ATM !

How Cashless Payment Systems Can Strengthen Amusement Customer Loyalty and Boost Business

Thu, 19 Dec 2024 01:48:55 GMT

In today’s evolving entertainment scene, family entertainment centers, arcades and other amusement venues are rapidly switching to cashless payment systems , and game cards are leading the way. These digital cards are more than just a fun way to pay; they make customers happy; help increase staff efficiency, build customer loyalty and can help you boost profits.

How Cashless Game Systems Save Money?

As traditional coin and token systems become obsolete, game cards systems serve as a modern, cashless alternative that offers numerous advantages. Their ease of use provides a better overall customer experience, as funds can be loaded onto a card and spent with the ease of a swipe to play.

This makes for a fast, exciting, and memorable experience, as customers will no longer be scrambling to find coins or leaving early because they have run out of cash. Business owners will also save time and money by removing coin machines that frequently get jammed and managing piles of tickets. And without tickets to collect and count, game card systems free up staff to focus on helping customers.

Even better, game card systems can track what customers spend and what activities they enjoy, allowing for smarter decisions when it comes to which amusement games to offer… and which ones might need to be retired. With data on what games players are using and for how long, and which ones are getting little play, you no longer need to waste space on games that don’t appeal.

Loyalty is a Key Component Game Card Systems Bring to the Table

Building customer loyalty can significantly change your business for the better. With a cashless system, it’s easy to turn your player’s cards into loyalty cards by offering regu-lar customers discounts, points, or prizes for their dedication. This reward system can quickly produce longer stays and higher spending.

And custom cards with your logo or special designs help remind customers of your brand and get them back in your door. For clientele who may be “card collectors” you can change up your design for special events, seasons, or even years – encouraging them to “collect” your many game card designs.

Make More Money with Game Cards Systems!

Making the switch to a game card system can help your bottom line too. The average American has between $187 and $244 in unused pre-loaded cards in their home. But, even if that money isn’t ever “spent” in the retailer, it’s still money the business has in its bank account. Which leads to one of the biggest appeals of moving from cash to plastic for gaming – the ability to make more money.

There are three big consumer behaviors that benefit amusement businesses that choose to move to game cards:

1. Removing the “Pain” of Payment – When someone spends real cash, there is a mentality for the customer to feel actual loss.

Game cards, however, remove that “pain” from the gaming experience. Customers can use cash or a credit or debit card for the initial

loading of their gaming card. But the feelings at the game are now 100% FUN! The result? They are more likely to reload the card.

2. Disdain for “Small Change” – Customers who aren’t regular gamers or only visit for special events will usually use the card while

they are on-site and walk away while there is still money on the card. While the customer may not come back – except for a special occasion -

that money has already been spent.

3. Overspending – Gift cards are notorious for not having exactly the amount needed to purchase what is wanted or needed. It’s the same

with a game card system. For example, a card may only have one point left on it and the game the customer wants to play requires three points,

but you only sell in five-point increments.... you see where this is going. This strategy helps to bring in additional money, while encouraging

players to return to use their card balance.

The benefits of having a cashless card system can add up quickly. Some businesses have reported their investment in game cards systems pay off in as short as three to seven months. Game rooms usually see a 20-30% increase in revenue after installing a card system, even without using the system's extra marketing features.

The Way of The Future is Game Cards Systems

Adopting game card systems isn’t just about keeping up with the times. It’s about staying competitive in the marketplace. Tapping a card to play a game is faster and more convenient than using coins or tokens, and happy customers are bound to stay longer and spend more. By embracing a cashless game card system , amusement businesses can enhance customer satisfaction and drive considerable revenue growth - setting up your business for long-term success.

Contact BFC Enterprises today!

Find out how easy... and how profitable it can be to have a game card system installed in your business!

Resolve to Save Money Using a Cash-Based Budget

Wed, 04 Dec 2024 22:09:40 GMT

Each year, millions of Americans resolve to pay off debt as part of their New Year’s resolution. In the third quarter of 2024, total consumer debt i ncreased by $147 billion with total US household debt reaching a shockingly $17.94 trillion. If you are one of the millions of American's drowning in debt, there is hope.

A cash-based budget will help you get out of debt, save for emergencies and cut back on careless spending. There is evidence suggesting the p sychology behind using cash for everyday items will help you achieve your goals. While, it's an easy resolution, like all new habits it will require your diligence and commitment.

Creating a Budget

The first thing that needs to be tackled is creating a budget. This can be painful, but it is crucial to see where you’re spending money and how much you need to live on. So, buckle in, grab all your bills, bank statements, credit card statements and pay stubs.

Not every item will be cash friendly. Your mortgage, rent, car insurance or student loan payments may require a deduction from a bank account. That’s ok – you can budget those accordingly. The point of a cash-based budget is to get a handle on everyday spending.

The key to success, is to budget for everyday purchases like groceries and household items and pay for them with cash. With credit or debit cards its tempting to make impulse purchases but when you only have cash, not spending more money than what you have in your wallet cuts back on buying unnecessary items.

Cash Access via the ATM

ATMs are the most convenient and affordable option to obtain cash. You may walk past ATMs and never pay attention. Once you start living a cash-only lifestyle, ATMs will become your best friend. As soon as your paycheck hits the bank, deduct cash at an ATM in your workplace, local convenience store, grocery store, shopping mall or any of the countless businesses that offer ATM service.

Commit to this uncomplicated system and you can have the power to take back the money you work so hard for. A cash-based budget will help you get out of debt, save for an emergency and cut back careless spending.

Do your part to help your customer keep their resolution. Contact BFC Enterprises today o find out if you qualify for a FREE ATM!

3 Ways to Prevent ATM Smash-and-Grab Attacks

Mon, 04 Nov 2024 20:22:52 GMT

Off-premise ATMs are often targets for thieves who use stolen trucks or construction equipment to break into buildings and steal the cash inside. While you can't totally stop someone who's determined to go to that extreme to steal an ATM, there are several good ways to make thieves think twice before trying.

Here are three tried and true methods to discourage ATM thieves from targeting ATMs:

Make the ATM Less Tempting

One of the best ways to stop ATM theft is to make criminals wonder if it's worth the trouble. After all, if they think they won't get much money, they might pick an easier target instead.

Here's a simple trick that works well: Put decals on the ATM that say you remove all the money at night. Even if you don't always do this, it makes criminals unsure about how much cash they might get. When they're thinking about all the work it takes to break into a store, this doubt might be enough to make them give up.

Let Everyone See They are Being Watching

Criminals know cameras make it more likely they’ll get caught. When thieves think there’s a good chance they’ll end up in jail, they’re less likely to try anything.

To make this work well:

Put up good security cameras that can see the ATM and the area around it
Make sure everyone can see your cameras
Put up signs that tell people they're being recorded
Use multiple cameras pointing different ways so nothing is missed

The secret here isn't just having cameras - it's making sure potential thieves can easily spot them. When criminals know they're being watched from every angle, they'll probably look for an easier target.

Make the ATM Harder to Steal

Physical barriers and security devices are a great way to protect the ATM.

Here are some proven ways:

Strong Posts Out Front . Put strong metal or concrete posts (called bollards) in front of the location. These posts can stop a truck or car from crashing through the front door.
Bolt It Down. Attach the ATM firmly to the floor with strong bolts. This makes it much harder for thieves to pull it out, even with a truck. The longer it takes to steal something, the more likely thieves are to give up.
Add Protection. Put steel panels around the ATM like armor. This makes it heavier and harder to break into. When thieves see how tough the ATM looks, they might decide it's not worth the effort.
Special Ink Protection. There are companies that now make special ink systems for ATM vaults. If someone tries to steal the ATM or blow it up, the system sprays ink all over the money. This ruins the cash for the thieves, but the money can be replaced later.

Get Help from Experts

While these safety measures work well, it's important to set them up the right way. Companies that work with ATMs can help you choose the best security for your location. These experts know all about ATM security and how thieves try to steal from them, so they can help devising the best plan to protect the ATM and the money inside.

By making ATMs less tempting, showing thieves they're being watched, and adding physical protection, can make reduce the chances of a smash and grab ATM heist. While no security is perfect, these steps work together to make thieves look elsewhere for an easier target.

Looking for a reliable ATM partner that takes security seriously? Contact BFC Enterprises today!

The Unexpected Health Benefits of Amusement Games

Mon, 21 Oct 2024 19:35:51 GMT

Plenty of studies have shown that lack of physical exercise can have adverse effects on children as they grow. While physical activity remains as important as ever, many recent studies show that playing games, especially arcade and amusement games, has inherent health benefits for both children and adults.

Gaming stimulates and soothes the mind in ways that routine exercise cannot. Let's take a look at four ways playing amusement games can improve health and abilities:

Improves Cognitive Abilities . Even the most basic games boost multi-tasking and decision-making skills. Gaming forces one to make spit-second decisions and stand behind them. Whether players choose the correct choices or not, the ability to decide is developed. Decision-making skills are especially beneficial for as children become teens, and indecisiveness can cause quite a bit of damage.

Improves Reflexes and Muscle Memory. Whether using the simple controls of joystick-style arcade game or more complex controller, playing games builds muscle memory. In turn, this improves reflexes and hand eye coordination which are used in a variety of daily skills, such as typing, driving and tying shoelaces. Studies have even found that in professions that utilize fine motor skills, such as surgeons, gamers outperformed non-gaming students and co-workers by a large margin.

Gaming Reduces Stress and Depression. Studies have found that kids who suffer from mental health issues, such as anxiety or depression, showed a notable improvement in condition after venting their frustrations playing an arcade or amusement game. Health professionals have even developed some games that help reduce physical pain in those suffering from chronic illnesses or severe wounds.

Curbs Cravings and Helps Reduce Weight. While there are no replacements for a balanced diet and exercise, gaming can help curb cravings. When bored or anxious, many people reach for snacks. Getting out of the house and going to an arcade reduces emotional eating by keeping players engaged mentally and physically. Less snacking means maintaining a healthy weight, or even reducing weight for some people.

No matter what type of venue you operate, adding amusement games can be a healthy part of the mix. Games have many benefits, including health benefits for players, and are likely to attract a more diverse customer base. To find out more about placing amusement games in your business, contact BFC Enterprises today!

Three Benefits of of Outsourcing Your ATMs

Fri, 13 Sep 2024 17:55:42 GMT

Consumers want and expect immediate access to their money ‒ no matter where they are, day or night. Yet, behind the scenes, owning and operating one ATM or thousands is a complex endeavor.

ATMs need constant attention, whether it’s replenishing and balancing cash, fixing broken parts, or upgrading hardware and software. ATM outsourcing or managed services programs are beneficial to merchants and financial institution on many levels because they eliminate many of the day to day responsibilities associated with ATMs.

Outsourcing produces immediate benefits, such as:

Reduced Costs . Generating a steady profit with an ATM can be a challenge for busy merchants as they try to juggle regular ATM maintenance and accounting with the responsibilities of running their business. By choosing an outsourcing program, business owners can streamline daily business routines, allowing managers and employees more time for other, vital tasks. Growing compliance regulations also demand updates, upgrades and new technology for terminals, which can create financial challenges and extra work for merchants with ATMs. With ATM outsourcing , a third-party provider completes all necessary updates as part of the maintenance contract, for a single monthly payment.

Generate Revenue . When partnering with an outsourcing company, the ATM can be branded, meaning an update in signage, personalized ATM screens, and possibly new software and capabilities. Having a branded ATM can draw more foot traffic to your location as customers look for dependable, secure and familiar terminals to complete their transactions. As ATM revenue increases with higher usage, your business is likely to see a boost as well. Studies show that customers are likely to spend as much as 20-25% of their withdrawal at the location where the ATM is located.

Top-Notch Services and Management . Many merchants don’t have time to look into all the newest technologies for their ATM. Outsourcing companies have access to the latest tools and updates, and it is their primary objective to streamline the management of their ATMs. The end result is having a high-functioning, visually-appealing, secure terminal that draws new customers without the hassle of maintenance to your terminal.

Undoubtedly, ATMs can be critical to the success of a business. Consider ATM outsourcing from BFC Enterprises as a way to generate additional revenue, lower overall costs associated with maintaining an ATM and increase foot traffic at your location. Contact us today to get a custom ATM fleet evaluation.

Boost Your Bar's Revenue with Dart Games: The Ultimate Guide to Amusement Gaming Success

Fri, 13 Sep 2024 13:58:53 GMT

Are you looking for a way to draw in new customers, keep them coming back, and generate additional revenue for your restaurant or bar? Look no further than the classic game of darts.

This timeless amusement gaming option offers a unique blend of entertainment and profitability that can transform your establishment into a local hotspot. Let's explore how incorporating dart games can benefit your business and create a vibrant atmosphere that keeps patrons coming back for more.

Pay-to-Play Dart Games: A Revenue-Generating Entertainment Option

One of the most straightforward ways to monetize dart games is through pay-to-play setups. By installing electronic dart boards or traditional bristle boards with a coin-operated mechanism, you can create a steady stream of income while providing entertainment for your customers.

Here's why pay-to-play dart games are a win-win for your business:

Passive Income : Once installed, these games require minimal oversight and generate revenue continuously.
Enhanced Customer Experience : Darts offer a fun activity for patrons to enjoy while they eat, drink, and socialize.
Extended Visit Duration : Engaging in a game of darts encourages customers to stay longer, potentially increasing their food and beverage consumption.

Dart Leagues: Building Community and Boosting Profits

Organizing dart leagues is an excellent way to create a loyal customer base and generate consistent revenue. Here's how dart leagues can benefit your establishment:

Regular Attendance : League players usually commit to weekly games or even entire seasons ensuring a steady flow of customers.
Additional Revenue Streams : Charge a league fee that covers both the prize pool and a cut for your venue.
Food and Beverage Sales : Players are likely to purchase drinks and food during their league nights, boosting your overall sales.
Community Building : Leagues foster a sense of community, turning your bar or restaurant into a social hub for dart enthusiasts.

Tournaments: Attracting Crowds and Increasing Revenue

In addition to leagues, hosting dart tournaments can significantly boost your business by drawing in large crowds. Here's why tournaments are a game-changer:

Spectator Appeal : Tournaments attract not just players but also friends, family, and curious onlookers.
Increased Foot Traffic : More people in your establishment means more potential customers for food and drinks.
Marketing Opportunity : Tournaments can generate buzz and word-of-mouth marketing for your business.
Sponsorship Potential : Local businesses may be interested in sponsoring tournaments, providing additional revenue.

Minimal Investment, Maximum Return

One of the best aspects of incorporating dart games into your business model is the low investment required for potentially high returns. By partnering with a reliable local amusement gaming company like BFC Enterprises , you can enjoy the latest in gaming equipment without the hassle of maintenance or ownership.

Here's why this approach makes sense:

No Upfront Costs : Many amusement gaming companies provide equipment at no cost to the venue.
Professional Maintenance : Let experts handle repairs and updates, ensuring your games are always in top condition.
Revenue Sharing : Most partnerships operate on a revenue-sharing model, aligning the interests of both parties.
Regular Updates : Stay current with the latest dart game technology without investing in new equipment yourself.

Incorporating dart games into your bar or restaurant is a strategic move that can significantly boost your bottom line. From pay-to-play options to organized leagues and tournaments, darts offer multiple avenues for increasing revenue and enhancing the customer experience. By partnering with a reputable amusement gaming provider, you can easily add this exciting feature to your establishment with minimal risk and effort.

Don't miss out on the opportunity to transform your venue into a dart destination. Contact us and start exploring your options today and watch as your business hits the bullseye of success!

Protect Your ATMs from Criminals

Thu, 22 Aug 2024 21:22:44 GMT

As ATM-related crime continues to rise across the United States, retailers are facing an ever-evolving threat. Criminals are constantly finding new ways to target cash machines, draining profits and compromising customer security.

According to The National ATM Council’s latest SecureATM industry report, the US has seen a troubling uptick in ATM-related losses, with nearly $1.5 million lost in the last 12 months and over $700,000 since April. This trend reflects a concerning pattern, as criminal tactics that first emerge in Europe often make their way to the US.

It’s important to stay one step ahead of these evolving threats. But how? Don't worry. There are steps you can take to fortify your ATM defenses and keep your business safe.

Let's Start with One of the Biggest Problems: ATM Skimmers

These small, high-tech devices are getting harder and harder to detect as the technology behind them advances. The best way to combat skimmers is to get up close and personal with your ATMs. Take regular photos of each machine so you can easily spot any new attachments or changes. And make a habit of visually inspecting your ATMs every single day - even the slightest irregularity could be a sign of tampering.

Physical Break-Ins are Another Major Concern

The most common crime against ATMs in the US is physical attacks. Criminals typically use a truck, van or other large vehicle to smash right through windows and walls to get to the ATM and cash inside. Placing sturdy concrete barriers in front of vulnerable areas can help deter these kinds of ram raids.

But even this level of prevention does little to protect your machines if your ATM’s safe uses the manufacturer default key. Criminals have been increasingly able to get copies of many standard key types from major manufacturers – giving them quick and easy access. Fortunately, you can have custom keys installed for your machine’s safe lock to add an extra layer of security.

You should also bolt your ATMs to the floor - that way, even if they do break in, the thieves won’t have an easy time if their aim is to grab the whole machine and go. They are forced to stay onsite where law enforcement can nab them or abandon their attempts and any potential rewards.

ATM Crime is Getting More Digital

Of course, in the digital age, you also need to protect against high-tech crime. Just like default safe locks, manufacturers publish the default access passwords to most of their machines in the standard user manual. The expectation is, of course, that every ATM owner will use those defaults to program new access codes.

To safeguard your assets, make sure your ATMs have been updated with customized passwords for programming and settings access. While you are at it, go ahead and program the machines to block any unauthorized software or access. Then, seal off USB ports and other potential entry points to the ATM’s computer systems. These steps will create a strong digital defense against cybercriminals.

Turn-Key ATM Placement is a Great Idea to Make Security Easier

While there's a lot you can do on your own, partnering with BFC Enterprises can take a huge weight off your shoulders. We’ll handle the technical programming, set up customized access controls, and even provide training to help your staff spot potential threats, and keep a close eye on the latest ATM crime trends - so you’re always one step ahead of the criminals.

Partnering with us can also provide valuable resources, like images and guidance on what to look for. Recognizing potential threats is half the battle, so having expert support can be a game-changer. We’ll make sure your team knows how to inspect your ATM(s) for skimmers, spot signs of physical tampering, and identify other suspicious activities.

The bottom line is that ATM-related crime isn't going away anytime soon. But by staying vigilant, implementing robust security measures, and aligning with the right industry partners, you can protect your retail business and your customers' financial information. Fortifying your ATM defenses can keep thieves at bay.

Don’t wait until it’s too late. Take action now to safeguard your ATM(s), your location and your bottom line.

Contact the ATM experts at BFC Enterprises today !

Get a free ATM or an evaluation of your current ATM program

Why Instant Win Games Bring Instant Success

Thu, 22 Aug 2024 20:42:24 GMT

Today’s consumers are used to immediate responsiveness. Advanced computer technology and smart phones have eliminated the need to wait for nearly anything. The same has become true of entertainment. Consumers expect immediate enjoyment from their investment.

Still other technologies have influenced consumer desire for instant gratification. The microwave, the internet and now 3D printers have made access to goods easier and faster than ever before. In addition to the desire for immediate product, access to smart phones and tablets has created a reliance on interactivity – both person-to-person as well as person-to-technology. The introduction of Siri and other AI for handheld devices is further proof of this trend.

Instant Win

Amusement games that provide instant win options cater to current consumer preferences in this fast-paced environment. Instant win games provide immediate interactivity for the user as well as a guaranteed product upon completion of the game.

The best instant win games are not only easy to win, they are simple to play. Participants of all ages have the ability to access, play and win without a need for frustration – creating the perfect interactive game play for groups, friends and families.

The Strategy of Instant Win

Because they cater to a wide range ages and sport heavy appeal for prize seekers, instant win games have consistently high traffic volumes. However, due to the guaranteed win, interaction can become stale over time. The key to pushing this activity is to make sure prizes are rotated regularly. For locations where patrons are consistent, swapping out instant win games can also be beneficial to maintain traffic levels to the games.

In today’s fast-paced society, immediate engagement and gratification are highly desired. This consumer trend makes instant win amusement games a big hit for people of all ages.

To find out more about how your establishment can benefit from instant win games, contact BFC Enterprises today!

How Merchants Can Protect their ATM from Criminal Attacks

Wed, 17 Jul 2024 19:58:24 GMT

Chicago, St. Louis, Modesto, San Antonio, Orlando… these are just a few of the U.S. cities recently making headlines in the news as criminals increase attacks aimed at ATMs. Many ATM owners think, “that couldn’t happen here” or “that would never happen to me.” Unfortunately, any business that deals with cash or merchandise can become the target of a criminal enterprise.

Although most attacks happen at financial institution ATMs, which hold more cash than off-premise units, retail locations that are not open 24/7 are susceptible to criminals looking for a quick payday from the ATM.

However, there are some steps merchants can take to fend off criminals and reduce the chance of theft, tampering, and physical damage to your ATM and location.

ATM Location – Is the machine near a window or could it easily be pulled out of the store by a truck or heavy machinery? Placement is key for any ATM. It should be convenient for consumers and foot traffic, but putting it against a window might not be the best idea. If there’s an easy way to get the ATM out, move it to a more secure area.
Video Surveillance – Something as simple as having video and a sign or decal on the ATM that says, “monitored by video,” can often prevent someone from trying to break into the ATM. Since savvy thieves will anticipate a camera and often spray paint them during the attack, a secondary and less obvious video monitoring system may be a consideration.
Bolt ATM to the Ground/Floor – Best practices suggest ATMs should be bolted to the ground at the bare minimum.
Staff Training – To prevent thieves from tampering with the ATM, adding skimming devices or testing it to see if it’s bolted to the ground, it’s imperative to train staff to inspect the ATM on a regular basis for signs of tampering or movement.
Physical Security – If your business is in an area that has a high crime rate, an extra layer of security such as bollards or cabinet reinforcement may be a wise investment. Bollards are an inexpensive extra layer of protection that discourages would be criminals from trying to pull the ATM out of a store. Cabinet reinforcement will make the ATM heavier and harder for thieves to get to the cash.

Unfortunately, would be thieves are always looking for a quick, easy payday and cash is an attractive target. It “can” happen to you and your location. Follow these five steps to ensure you have peace of mind.

If you aren’t sure if your ATM is secure, reach out to BFC Enterprises for a consultation. We may even be able to provide you with a better deal than your current ATM provider!

Boosting Business: The Power of Amusement Games for Retailers, Restaurants & Bars

Wed, 17 Jul 2024 19:02:52 GMT

In today's competitive retail landscape, businesses are constantly seeking innovative ways to attract customers and increase revenue. One often overlooked strategy that's proving highly effective is the integration of amusement games into retail spaces, restaurants, and bars. From digital jukeboxes to claw machines, these entertaining additions are transforming ordinary establishments into engaging destinations.

Here are a few of the many benefits that amusement gaming brings to retailers and hospitality venues.

Enhancing Customer Experience

Amusement games significantly enhance the overall customer experience. In restaurants and bars, patrons can enjoy a round of Golden Tee Golf or select their favorite tunes on a digital jukebox while waiting for their food or drinks. This not only keeps them entertained but also increases the likelihood of them staying longer and ordering more.

For retailers, strategically placed amusement games can turn a routine shopping trip into an exciting outing. Pool tables , for instance, provide a fun activity for patrons and create shareable memories, potentially increasing foot traffic through word-of-mouth marketing.

Increasing Dwell Time and Sales

One of the primary benefits of amusement games for retailers is helping customers stick around. The longer customers stay in a store or venue, the more likely they are to make additional purchases. For instance, a well-placed claw machine near the checkout area can keep children occupied while parents complete their shopping. Rather than frustrated parents in a rush to leave, everyone can have a pleasant time and complete their shopping in peace.

In bars and restaurants, games like Golden Tee Golf or digital dart boards encourage patrons to stay for "just one more game," often resulting in additional food and beverage orders. These games also create opportunities for competition or even tournaments that draw in more customers and keep people playing. This entertainment leads to increased dwell time that directly translates to higher sales and improved customer satisfaction.

Generating Additional Revenue Streams

Amusement games provide a direct source of additional revenue for retailers, restaurants, and bars. Whether its coins inserted into a claw machine or credits purchased for a digital jukebox, these games create a steady stream of income with minimal ongoing costs.

Many businesses opt for revenue-sharing models with amusement game providers, allowing them to benefit from the games without the upfront investment in equipment. This arrangement can be particularly attractive for smaller retailers or new establishments looking to maximize their revenue potential.

Attracting a Diverse Customer Base

The variety of amusement games available means there's something to appeal to every demographic. Digital jukeboxes attract music lovers of all ages, while photo booths are popular among younger, social media-savvy customers. Classic games like Golden Tee Golf often draw in sports enthusiasts and casual gamers alike.

By offering a mix of amusement options, retailers can attract a more diverse customer base , potentially introducing their products or services to new market segments.

Creating a Unique Atmosphere

Amusement games contribute to creating a unique, fun atmosphere that sets businesses apart from their competitors. A bar with a well-curated selection of games becomes more than just a place to drink – it becomes a destination for entertainment. Similarly, a retail store that offers engaging activities alongside its products creates a memorable shopping experience that customers are likely to repeat and recommend.

Encouraging Social Interaction

In an age of digital isolation, amusement games provide a refreshing opportunity for face-to-face social interaction. Multi-player games like Golden Tee Golf or digital bowling can foster friendly competition and conversation among patrons in bars and restaurants. Even solo games like Space Invaders often attract onlookers and can spark interactions between strangers.

For retailers, this social aspect can transform a solitary activity into a shared experience, potentially leading to increased sales as friends or family members influence each other's purchasing decisions.

Staying Relevant in a Changing Market

As the retail and hospitality industries continue to evolve, incorporating amusement games is one way for businesses to stay relevant and appealing to changing consumer preferences. By offering an element of fun and entertainment alongside their core offerings, retailers, restaurants, and bars can position themselves as modern, engaging destinations rather than mere transactional spaces.

In conclusion, the integration of amusement games offers numerous benefits for retailers, restaurants, and bars. From increasing dwell time and sales to creating unique atmospheres and attracting diverse customer bases, these entertaining additions have the power to transform businesses. As the lines between retail, hospitality, and entertainment continue to blur, savvy business owners would do well to consider how amusement games could enhance their offerings and boost their bottom line.

Contact BFC Enterprises today ! Our experts will be happy to recommend the best games for your establishment.

Benefits of Adding a Prize Hub Ticket Redemption

Mon, 17 Jun 2024 20:17:08 GMT

For many small businesses, exploring additional revenue streams is becoming a necessary part of operations. One way to increase profit is to create a game room with BFC Enterprises’ large selection of amusements and games . Customers are incentivized to stay longer, spend more with added entertainment and keep coming back.

Prize Hub ticket redemption allows any size business to offer a variety of prizes without the extra cost associated with a traditional prize counter. Prize Hub is an automated, sleek, self-contained prize center featuring an intuitive 22” touch screen monitor, the ability to run up to four custom ads to cross promote products and services, and extra storage.

Reduces Payroll Expenses & Storage

Prior to the release of Prize Hub, businesses had to employ someone to count and redeem tickets. This meant additional payroll expenses and bulky prize centers along with storage rooms in the back. With storage in each hub, excess inventory is safe and not taking up valuable space in employee-only areas.

Automates Prize Redemption

Merchants control what’s inside - from candy to electronics, and it allows retailers to determine the prize value, anywhere from 25 to 10,000 tickets. Patrons can redeem tickets or cash in earnings from reusable cards. The user-friendly screen walks patrons through redemption and is just as easy for operators to monitor and stock.

Trackable & Secure

Prize Hub will track the activity to help determine what needs retailers have in their arcade and has security features built in. It is also accessibility from mobile devices and computers to provide peace of mind.

Modular Design Can Grow as Your Business Increases

The modular capsule, spindle and locker hubs can be used in virtually any combination. Each hub will attractively display any type prize business owners wish to stock and retailers can add additional hubs as needed as your business grows. Prize Hub can also be mixed and match between the different styles to score the perfect set up for your space.

Ready to make your arcade or game room more efficient? Contact BFC Enterprises today to set up a consultation.

ATMs Provide a Surprising Benefit for Consumers: Helping Them Save Money

Mon, 17 Jun 2024 18:24:14 GMT

ATMs have long provided benefits for both retailers and customers. For retailers, they drive additional revenue through surcharge fees and bring more foot traffic into stores. For customers, they provide convenient access to banking services like withdrawing cash. But recent research has uncovered another surprising benefit ATMs offer retail customers - helping them keep a tighter grip on their finances.

Cashless Payments Trick Customers into Overspending

So how exactly can an ATM save your retail customers money? It comes down to the payment method - cash vs cashless. A landmark study from the University of Adelaide found that consumers tend to spend more when using credit/debit cards and other cashless payment methods versus using cash. This tendency was especially pronounced for purchases of status products meant to signal wealth or success.

The reason for this, experts say, is that physically handling cash and counting out dollars and coins to make a purchase makes the act of spending more psychologically “painful.” Using cash makes you more cognizant of the hard-earned money you are giving up. Swiping a card or clicking a “buy” button creates more of a disconnect from the outgoing money.

Experts Recommend Using Cash to Pay

This cashless disconnect is one of the reasons many financial advisors recommend using cash instead of credit/debit cards as much as possible when trying to stick to a budget. Using cash can guard against unplanned, impulsive purchases by making the spending experience more tangible and memorable. It's simply harder to lose track of how much you've spent when you can physically see your cash reserves dwindling.

Of course, in today's increasingly cashless society, it's not always easy or convenient for consumers to access cash. With bank branches closing and most banks still operating from 8 a.m. to 5 p.m., withdrawing cash has become more difficult. In addition, more paychecks than ever are either direct deposit or payroll cards, meaning fewer paychecks are being issued via physical checks that can be cashed.

How do ATMs Help You Save Money?

ATMs, particularly those located at retail stores and other convenient locations, can play a big role in helping customers save money. By providing easy access points to withdraw cash, retailers with ATMs on premises are empowering their customers with a budgeting tool - the ability to pay in cash.

When retail customers can easily convert part of their paycheck into cash via an on-site ATM, they gain the ability to:

Ditch impulsive overspending by using a cash payment method that is psychologically more “painful.”
Keep tighter control over their budget by physically seeing their cash reserves dwindle with each purchase.

So, in addition to the revenue and foot traffic benefits ATMs provide to retailers, they also enable a cost-saving advantage for customers - the ability to curb unplanned spending by switching to cash payments. Promoting cash access via convenient ATM locations empowers shoppers to make more conscious, wallet-friendly spending decisions.

Discover how you can help empower your customers by partnering with BFC Enterprises for an on-site ATM - at no cost to your business.

Claw Machines: A Fun and Profitable Addition for Any Retail Space

Thu, 30 May 2024 18:30:16 GMT

If you're a retailer looking to attract more foot traffic and boost revenue, consider adding a claw machine to your location. These classic arcade games have been a hit with kids and adults alike for decades, and they offer a unique opportunity to create an engaging and entertaining shopping experience.

Here are just a few reasons a claw machine could be a win for your establishment.

1. Kids Love Claw Machines

One of the most significant advantages of having a claw machine in your retail space is that it appeals to children. Kids are naturally drawn to the bright lights, colorful prizes, and the thrill of trying to grab a stuffed animal or toy with the claw. It's an irresistible combination that can keep them entertained for hours, giving parents a much-needed break while shopping.

2. Nostalgia for Today's Parents

Surprisingly, it’s not just kids who love claw machines. Many of today's parents grew up playing these games at arcades, malls, and other venues. The sight of a claw machine can instantly transport them back to their childhood, evoking feelings of nostalgia and happy memories. By incorporating a claw machine into your retail space, you can tap into this sense of nostalgia and create a fun, family-friendly atmosphere that appeals to much more than just the kiddos.

3. Control the Reward Percentage for Maximum Fun and Profit

One of the most significant benefits of owning a claw machine is the ability to control the reward percentage. This means you can adjust the difficulty level of the game to strike the perfect balance between fun and profitability. By setting the reward percentage at a reasonable level, you can ensure that customers have a chance to win prizes while still generating revenue for your business.

4. Versatile Placement Options

Claw machines are incredibly versatile and can be placed in a variety of retail settings, from shopping malls and grocery stores to restaurants and waiting areas. Their compact size and mobility make them an ideal addition to almost any retail space, allowing you to capitalize on foot traffic and attract potential customers.

5. Pull in Customers and Boost Sales

In today's competitive retail landscape, it's essential to find ways to stand out and create memorable experiences for your customers. Claw machines offer a unique opportunity to do just that. By incorporating these fun and nostalgic games into your retail space, you can attract more foot traffic, keep customers entertained, and boost sales.

Not only do claw machines appeal to children and tap into the nostalgia of adults, but they also provide a source of revenue without taking up much space – creating additional value for virtually any retail setting.

So, if you're looking to create a fun and engaging shopping experience while increasing foot traffic and revenue, consider installing a claw machine for your retail space. It's a win-win for both customers and businesses alike. Contact BFC Enterprises for more information about placement options.

Why US Consumers Won’t Give Up Cash

Thu, 30 May 2024 17:27:34 GMT

Despite predictions that debit cards, electronic payments and more recently the pandemic would kill cash, the opposite happened. U.S. consumers are carrying more cash today than they did prior to the pandemic. According to the Federal Reserve Diary of Payment Choice , Americans carry $74 in their wallets and purses on average – up $20 from 2019.

And Americans are not ready to say goodbye to cash anytime soon. When asked as part of an ING survey , 65% of Americans disagreed with the statement, “I would prefer if cash did not exist,” showing that a large majority still approve of a cash-based economy.

The truth is there are some instances where cash just cannot be replaced by electronic payments. When it comes to gift giving, tipping, paying the babysitter or the teen who cuts the grass, donating spare change to a charity or helping someone in need – cash matters .

Benefits of Paying in Cash

Universally Accepted ─ Even with a wide variety of payment options available, there are still many bars, restaurants, cafes, stores and public agencies that don’t accept cards without charging a fee. Cash is universally accepted everywhere and there is never a fee to use it.

Natural Disasters & Emergencie s ─ When a hurricane, tornado or winter storm hits, electricity and internet may go down rendering all electronic payment methods unusable. In these instances, cash becomes the only viable method of payment. According to CashMatters.org , “during a crises, the demand for cash sharply rises. We trust real currency and it’s in almost every country’s top recommended emergency items.”

Privacy & Security ─ Paying in cash doesn’t leave a data trail. Not only is cash the only private way to pay for goods and services, it also protects consumers from the risk of identity theft and other cybercrimes and allows for autonomy and individual freedom. In fact, 56% of Americans cite protection from data hacks as the top reason for paying in cash.

Reap the Rewards of Having an ATM in Your Business

As a business owner, you must adapt to the needs of your consumers. And if you can’t, consumers will find another business that can. In fact, a staggering 85% of U.S. consumers say they would not shop in a business where they couldn’t use their preferred payment choice .

Studies show that offering customers easy access to cash by having an ATM on-site helps to attract new customers, increases traffic and builds customer loyalty. It also provides customers with the freedom of paying as they wish. And, as the business owner you earn income every time the ATM is used.

Don’t Have an ATM in Your Business?

3 Great Reasons to Add Coin-Operated Pool Tables to Your Establishment

Tue, 16 Apr 2024 18:05:34 GMT

Ideal for bars, pubs, game rooms, hotels, college campuses and community centers, pool tables are a great way to expand your customer base and generate more income. Coming in a variety of sizes to suit business needs and space requirements, billiards can be placed in a variety of locations and have been a staple in American culture for decades.

Here are three great reasons to consider adding a coin-operated pool table to your establishment.

Generate Additional Revenue : Coin operated pool tables generate income on their own. However, the biggest benefit is that billiards keep customers in your establishment longer; increasing revenue per customer. The longer a customer remains in your establishment, the more likely they are to continue purchasing food, drinks and other services. It also keeps them coming back to your establishment.

Increase Customer Loyalty : For locations that do not offer food or drinks, such as a laundromat or movie theater, pool tables give customers something to do while they wait, increasing customer loyalty and generating additional revenue.

Expand Customer Base : Having pool tables in your establishment and hosting pool tournaments are a fantastic way to increase your customer base. Any scheduled gathering is likely to draw new customers – both players and fans – to your location, and tournaments last much longer than a standard game of pool.

Offering specials is another great way to keep customers in your establishment spending money. Restaurants and bars have reported success by employing some of these specials:

Free game of pool with a pitcher of beer.
Family night where kids play free
A free appetizer with the purchase of a certain number of games

No matter what type of venue you operate, billiards can help increase revenue, increase customer loyalty and bring in new customers. To find out more about coin-operated pool tables and whether they are the right fit for your location, contact BFC Enterprises today!

Making the Call: Own Your ATM or Get Professional Help?

Tue, 16 Apr 2024 17:43:55 GMT

Thinking about adding an ATM to your retail store? It's a great idea, but there's a lot to consider before you decide if you’ll go it alone or if you’ll need a partner by your side. Let's break it down.

Meeting Customer Needs

First off, let's talk about why people like ATMs. When you need cash, where do you go? To the nearest ATM, right? These machines handle about 300 transactions a month on average. And get this: people who use ATMs usually come back 8 to 10 times within a 30-day period.

Even better for retailers, when customers withdraw cash from your ATM, they usually turn around and spend a good chunk of it right in your store – somewhere around 20% of it.

Owning Your Own ATM

Now, if you decide to get your own ATM, there's more to it than just buying the machine. Sure, you can find one for as low as $2,400, but there's a bunch of other stuff you'll need too.

First, you'll want insurance to protect your machine in case something bad happens – like someone tries to break into the ATM. Then there are Americans with Disabilities Act (ADA) compliance regulations which are designed to make it easy for everyone to use the machine. There are a surprising number of people out there that purposely scope out ATMs to flag them for compliance issues and sue.

Then there is the need to train your staff on how to keep the machine working smoothly – like putting cash in, fixing any cash jams, and knowing what to do if something else goes wrong. You’ll also need a good internet connection to make sure all of the transactions go smoothly.

There is also the necessity of performing regular maintenance to check conveyor belts and other machinery to keep the machine in tip-top shape. Finally, there is the necessity of monitoring cash volumes to make sure the machine is able to meet the cash needs of your customers. Even if you fill the machine with the store’s cash deposits, heavily used ATMs may require extra bank runs or calls to your armored carrier to bring in additional cash. It's a bit of work, but surcharge fees and additional customer revenues can really make it pay off!

Turning to a Professional

If that sounds like a lot of time and effort, there is another option. Partnering with a reputable independent ATM deployer, like BFC Enterprises . These companies are dedicated to taking care of ATMs for businesses like yours. ATM deployers usually have turn-key programs where they will do everything for you.

They'll own the machine, take care of all the cash management, make sure the ATM meets compliance standards and runs properly. They’ll even handle any problems that come up. And the best part? You don't have to pay a bunch of money upfront. Payment is typically made based on anticipated transaction volumes and surcharge amounts – and you’ll still earn a portion of that revenue.

Making the Big Decision

So, there you have it – owning your own ATM versus partnering with a professional. It's a big decision, for sure. Owning one gives you total control, but it also means a lot of extra time, effort, and expense. On the other hand, a reliable ATM partner means less stress and hassle for you, and you still get all the benefits of having an ATM in your store. So, what's your call?

Contact BFC Enterprises today to discuss which type of ATM placement is right for your business.

How Having an ATM On-Site Can Help Attract More Business

Thu, 28 Mar 2024 16:15:44 GMT

More than 85% of U.S. adults have a debit cards and over half use ATMs regularly. If you don’t have an ATM in your business, it’s quite likely your customers are already using an ATM… in another business. By adding an ATM to your offerings , you are providing a convenient service to customers they will appreciate and probably are already using.

Having an ATM on-site can also generate more traffic which, if managed properly, can translate into new customers and more sales.

To increase sales, experts recommend positioning the ATM in a high traffic, visible area, offering impulse items under $10-$25 near the terminal and using the ATM’s advertising features to keep customers coming back.

ATM Positioning

Placement is a key factor of how successful your ATM will be in attracting new and repeat customers. To get the most benefit from having an ATM on-site, it should be easily accessible and strategically placed in a location within sight when customers walk through the door. Wrapping the ATM in bright colors and using signage on the ATM as well as advertising that an ATM is located in the business will also increase visibility and attract customers – both to the business and to the ATM.

Place Impulse Items Near the ATM

Statistics show cash is preferred by several demographic s including Millennials and Baby Boomers. A recent report found cash was used heavily for small-value items, representing 49% of payments under $10 and 42% of payments less than $25. Studies also show that up to 25% of the cash withdrawn from the ATM is used in the business to make purchases.

To get the biggest benefit from your ATM, experts recommend impulse items under $10 be displayed near the ATM. This will increase cash sales, especially by visitors that may have come in only to use the ATM.

Using the ATM to Increase Sales

ATMs have a number of features that can help increase sales and keep customers coming back. Coupons on the receipt are easy to install and can help to increase sales of low value, impulse items. Popular promotions on receipts include buy one, get one free or a percentage off offers. ATMs also allow the business owner to install a number of rotating ads on the screen. These ads, which run while the ATM is idle, can be used to promote products and services, and draw attention to the terminal.

BFC Enterprises has the expertise to help you find the right ATM to meet your needs, the ideal location within your business and the make the most of ATM features to help increase sales. Contact BFC today to get an ATM for your business.

Digital Jukeboxes are Keeping the Music Alive in Bars and Restaurants

Thu, 28 Mar 2024 15:22:14 GMT

The bar and restaurant scenes are thriving like never before as people eagerly make up for the time they lost during the pandemic and the years that followed. But a vibrant atmosphere isn't complete without great music - and giving patrons the ability to control the tunes they hear is a surefire way to keep them entertained and engaged.

That's where digital jukeboxe s come in, evolving with innovative features to enhance the consumer experience.

Mobile App Integration for Easy Music Selection and Payment

Long gone are the days of feeding quarters into old-school jukeboxes. The latest digital jukeboxes make it a breeze for customers to browse and queue up songs directly from their smartphones via integrated mobile apps. By downloading the venue’s jukebox application, customers can peruse an extensive library of music, create their own playlists, and pay for selections using secure mobile payment options on their phone.

This mobile-friendly approach eliminates the need to fumble with cash or deal with confusing interfaces. Patrons can take their time crafting the perfect party mixtape from the comfort of their tables while sipping on drinks and enjoying the ambiance. Today’s jukeboxes are simple, seamless, and tailored to modern consumer preferences.

Endless Music Libraries Through Streaming Service Connectivity

What truly sets modern digital jukeboxes apart is their ability to tap into popular streaming services like Spotify, exponentially expanding the breadth of music at patrons' fingertips. Rather than being limited to a pre-installed catalogue, these internet-connected jukeboxes unlock a near-endless library of songs spanning every genre imaginable.

This integration with streaming platforms ensures the music never gets stale. Venues can consistently offer fresh, up-to-date playlists that appeal to diverse crowds and cater to niche tastes beyond just the usual “bar tunes.” Whether it's underground hip-hop, regional folk styles, or the latest K-pop sensations, bars and restaurants can keep their atmosphere current, and their customers engaged.

Venue Control Over Playable Content

While granting customers more autonomy in curating the vibe, bar and restaurant owners needn’t worry about inappropriate or off-brand music disrupting their establishments’ carefully cultivated ambiance. The latest jukebox systems provide robust venue controls and customizable filters to block specific content, artists, tracks, or even entire genres from being played.

Venues maintain ultimate authority in approving the allowed material to align with their unique identities – be it an upscale lounge, a raucous dance club, or a family-friendly eatery. Venue operators can ensure their music policies and age-appropriate guidelines are consistently followed without compromising the fun, interactive jukebox experience.

From mobile-enabled song selection to streaming service integration and nuanced venue controls, digital jukeboxes have truly elevated the classic concept. They empower customers to orchestrate their night out while giving bar and restaurant owners the tools to set the right tone.

As the hospitality industry bounces back, these innovative music machines are playing an instrumental role in crafting memorable dining and nightlife experiences. Need to add or upgrade your venue’s jukebox experience ? Contact BFC Enterprises today!

The Rising Risks and Costs of Credit Card Transactions for Retailers

Sun, 25 Feb 2024 19:42:18 GMT

Despite the dominance of cash as the payment method of choice for small-dollar purchases, consumers are still enamored of the “convenience” they get with credit and debit cards. Unfortunately, those same payment methods often come at a steep price for retailers.

As fraud attempts rise exponentially and processors hike their fees, the true cost of accepting plastic continues to grow every year. Let's break down the key expenses and risks retailers take on with each consumer card swipe.

Card Fraud Takes Off!

Do you know what country accounts for nearly half (46%) of global credit card fraud? The United States. And these fraud losses are anticipated to exceed $12.5 billion by 2025 . You might wonder how that could possibly be the case. Well, the US is one of the only countries that still utilizes the mag stripe on the back of debit and credit cards, despite EMV technology being nearly ubiquitous throughout the states.

Why does that matter? Because 80% or more of worldwide credit cards have been compromised . And the easiest way to duplicate a card and commit fraud is to throw on a fake EMV chip and code the mag stripe.

“Oh no, Mr. Retailer, I don’t know why my EMV chip isn’t working!” No worries, go ahead and swipe it. Boom! A fraudulent card goes through as a legitimate transaction. That is until the card company or the consumer recognizes the bad card swipe and kicks it back. Suddenly, the merchant is stuck eating the charge despite the merchandise having walked out the door.

But what might be even more surprising for retailers is that fraudsters rarely go for the big money with stolen credit and debit card data. Rather they tend to target small transactions, usually under $100. Those small-dollar criminal purchases now make up 55% of all fraudulent card use. This means convenience stores, grocery stores, dollar stores, and other such retailers are the prime targets – and the ones racking up the most loss.

Compliance Costs – Another Expense Hitting the Bottom Line

One of the ways the networks are working to protect consumers (and merchants) from fraud is through the Payment Card Industry (PCI) compliance standards . These requirements address everything within the card payment landscape including transmission encryption, processing, and storage of data as well as physical cards and equipment.

But, while PCI compliance helps protect the payments system, staying compliant can come at a cost. These security standards often require updated equipment and, on the payment processing end, quite a bit of code and systems updates. So, it’s hardly surprising that merchants end up footing some of the bill for that safety and security – commonly paying $79 to $120 yearly in PCI compliance fees. However, failure to meet requirements risks even heftier fees ranging from $10,000 to $100,00 or higher. While essential for security, these costs directly impact retailers' bottom lines.

Card Processors Protect Themselves – Costing Retailers Even More

Today’s payment landscape has generated some interesting new formats for processing charges to retailers accepting debit and credit cards. But, despite the changes to how merchants are charged, the overall costs are still going up – in large part due to added risks and regulatory costs.

Today most retailers have either tiered pricing or interchange-plus pricing models. The tiered pricing differs based on the type of transaction such as debit versus credit. The amount charged for each type of transaction is set by the individual processor.

Interchange-plus models, on the other hand, are based primarily on the interchange rates currently charged by the card networks. The processing company then takes that rate and tags on their own fees for handling the transaction – sometimes in addition to a monthly subscription fee. Overall, credit card processing fees have risen over 20% since 2021 , further squeezing retailers’ already thin margins.

Between fraud, compliance, and rising fees, retailers shell out far more than the basic processing costs to accept credit and debit payments. These compounding expenses can seriously impact cash flow, especially for small, low-margin businesses. So, what’s the solution?

Cut Costs with Cash Incentives

Ironically, one of the most effective ways to reduce credit card expenses is to encourage more cash transactions. But one of the best ways to ensure consumers can readily access and pay with cash is through an on-site ATM.

Streamlining checkout for cash also signals its acceptance, while posting cash discounts where permitted informs customers of the opportunity to save. In the end, the simpler cash model cuts risks and keeps money from falling prey to rising fees and card processing expenses. Mastering the hidden costs of card acceptance is quickly becoming a key component of retailers' financial health.

Discover how your business can leverage an on-site ATM to help encourage cash and save money . Contact BFC today !

Why Cash for Emergencies is Critical

Thu, 18 Jan 2024 17:11:55 GMT

There are countless reasons to keep an emergency fund, both for personal reasons and for your business. In regions that experience seasonal natural disasters, having a stash of cash can guarantee the ability to obtain necessities until life is back on track. Rather than use interest-accruing credit cards, that may not work if the electricity is out, to pay unexpected expenses the best plan is to keep cash on hand.

The American Red Cross lists extra cash - small bills and change – among the basic supplies needed in your emergency survival kit . One of the greatest services local business owners can provide to customers is being cash-ready before the onset of seasonal events like tornadoes, snowstorms, hurricanes, mudslides, earthquakes and brush fires.

According to certified financial planner Michael Dubis, “ Cash is always important to have , whether it's for an emergency or an opportunity.” Business owners especially can benefit from keeping extra cash accessible and having a stocked ATM on site ahead of natural disasters.

Weather Preparedness. While ATM operators can’t accurately predict the surge in cash demand during an emergency, having a stocked ATM on-site ahead of predicted natural disasters is a plus. ATM availability will draw foot traffic to your location and likely boost business as people prepare for incoming storms. In some instances, such as with customers who use payroll cards or their bank branches have already closed, your terminal may be the only the access consumers have to their money.
Basic Living Expenses. During times of crisis, consumers still need to purchase necessities like food and water. Wide-spread power outages can make it almost impossible for consumers and companies to do business. Keeping physical money accessible means business owners can still sell goods as needed, even if it means tallying inventory and profit by hand, the old-fashioned way.
Business Cash Reserve. Its ideal to have a credit line that can be tapped during emergencies, but for business owners it can be vital to keep several months’ worth of expenses available. Many factors, such as damage to your location and extended power or water outages, can affect the ability to re-open after an emergency, especially for entrepreneurial families who depend solely on income from a private business. Liquid assets can pay basic living expenses and allow for rebuilding as soon as the emergency is over.

In times of crisis, cash is a valuable – and even life-saving – resource. Having an on-site ATM and dependable repair and replenishment services can help you prepare for emergencies and support customers during times of duress.

For more information on ATM placement and ATM managed services, contact BFC Enterprises today.

3 Reasons Amusement Games Are Good for Retailers in 2024

Thu, 18 Jan 2024 16:12:17 GMT

The heyday of sprawling video arcades packed with rows of cabinets playing 8-bit wonders like Pac-Man and Space Invaders may be long gone. But amusement and redemption games still offer tremendous value for bars, restaurants, family entertainment centers, and other retail locations - even in 2024.

Here are three reasons why adding a few amusement games can be a smart bet this year.

Adults Are Playing More Than Ever

The stereotype of gaming being just for preteen boys mashing buttons in their parents' basement hasn't been accurate for years. Today's adults are the first generation to have grown up with home video game consoles and internet access. They spent their free time in Tilt and other arcades or at home in front of their Nintendo, Sega, Xbox, PlayStation, or PC.

As a result, Millennials (approx. 1980-1995) play more games across more platforms than any other demographic – including Gen Z (1996-2012) and Gen Alpha (2013-?). A 2022 report from the Entertainment Software Association found the average video game player is now 33 years old. Overall, about 3 in 4 American adults play video games regularly.

What does this mean for amusement gaming? It means anything from Skee-Ball to a modern virtual reality setup in a restaurant, bar, or other retail establishment isn’t just kid stuff anymore. These types of activities appeal heavily to today’s largest adult market who are stopping in for happy hour or bringing their families by to find something to do after dinner.

Games Increase Time and Money Spent In-Location

On a typical day, amusement games aren't usually going to be the main reason a group chooses your establishment. However, they can incentivize guests to stick around longer once they arrive.

Adding a few self-serve games can help capture more revenue from patrons by pulling in game funds as well as the additional food, beverages, and merchandise they will be tempted to purchase. When presented with a gaming option, many customers will choose to unwind, relieve stress, and gain some mental stimulation by enjoying a quick round of air hockey, basketball, or video games.

But it’s also easy to make your on-site amusement games a customer draw. Many locations have found success with tournaments , special gaming offers, and even gaming loyalty programs. These tactics incentivize gaming activity, call attention to the entertainment offered, and appeal to new potential regulars. Overall amusement games can lead directly to higher overall spending on food, drinks retail goods, or other services.

Underutilized Space Becomes a Revenue Driver

Floor space in prime retail areas doesn't come cheap. So, any unproductive zones like dull hallways or nearly abandoned patios are effectively wasting money. Luckily, amusement games are uniquely suited to convert useless square footage into consistent earnings. The compact footprints of many cabinet setups mean you can often squeeze a game practically anywhere without remodeling.

Walls, half-walls, entryways, vestibules, and even storage rooms can house anything from single-player video redemption games to multi-player classics like foosball. Even better, just one video arcade terminal can reasonably generate $200 to $485 per week, especially if patrons aren’t hunting for quarters but can instead use cashless payment methods .

Modern Games Offer Flexible and Engaging Experiences

Amusement games have come a long way. There are options from simplistic mechanical devices requiring quarters to high-tech video gaming, VR, and other interactive options. Even better, many of today’s video and interactive games provide built-in loyalty programs, dynamic ticket redemption, live tournament modes, and online statistic tracking.

Similarly, when it comes to switching things up to keep customer attention, many newer games can change season themes, provide lighting or music customization, and more. These options help keep the consumer experience fresh while allowing for creative promotions and partnerships.

Ultimately, cramming in a full-scale arcade with dozens of cabinets is unrealistic for most establishments today. But sprinkling in a few smart amusement game choices provides an affordable way to keep customers engaged, spending more, and coming back again and again.

To discuss the latest amusement gaming options for bars, restaurants, and retail spaces, contact the experts at BFC Enterprises today for a custom consultation.

4 Tips to Attract Customers to your Bar or Restaurant

Wed, 20 Dec 2023 19:44:03 GMT

For event locations such as bars and restaurants it is essential to stand out from the crowd. But that can be tough in such a competitive market where the “latest scene” may be more attractive than other, more reliable venues. Fortunately, there are several ways to make sure customers not only keep coming back but spread the word to new visitors as well.

Here are 4 Tips to Attract New Customers... and Keep Them Coming Back

Offer a Variety of High Quality Drinks…and/or Food . People will always come back for quality food and service. Keep top sellers in stock but rotate options enough to keep explorers and trends setters interested and happy.
Promotions and Events . Almost everyone likes a good deal…and a good party! In addition to discounts and specials, a party or other special event such as karaoke, wine tasting/food sampling or having a pool tournament or other amusement games like digital darts or Golden Tee PGA tour games can lure in new and existing customers.
Advertising . Find out where your target audience is going to take in their media. Is it a local magazine, Facebook, Instagram, TikTok or a digital publication? Whatever media they are using – invest in advertising there.
Create Ambience . Good music makes a venue. Make sure your location is equipped with a wide variety of music that will appeal to your target audience such as having a jukebox on premise. Hosting live entertainment of the appropriate genre can be a big draw, as well.

These simple tips can help your location stay at the top of its game…and keep customers coming back regularly.

For more information about how pool tables, jukeboxes and other games can help your location thrive, contact the amusements experts at BFC Enterprises today!

How are Bank Closures an Opportunity for Retailers?

Wed, 20 Dec 2023 19:00:15 GMT

Banks across the United States are rapidly closing branches, leaving many neighborhoods without convenient access to in-person banking. This trend presents a valuable opportunity for retailers to step in and fill the gap, attracting more foot traffic and sales.

The Rise of Banking Deserts

Major banks closed over 3,000 branches in 2022 , while only opening around 1,000 new ones. Financial giants like JP Morgan Chase, PNC, and Citizens Bank recently closed 64 locations in just one week this past November.

In total, the number of counties in the US without a single bank or credit union branch has climbed from 700 in 2012 to 1,200 today. These areas are essentially “ banking deserts ” where consumers lack convenient access to banking services.

Consumer Demand Physical Access

Despite the digital banking boom, most people still want convenient access to physical branch locations and ATMs:

87% of consumers want a bank branch located close to their home or workplace
90% regard easy access to fee-free ATMs as critical

With banks rapidly closing locations, they risk frustrating and losing customers who rely on neighborhood branches to handle their finances face-to-face.

Retailers Filling the Banking Void

As banks vacate their branches, forward-thinking retailers have a prime opportunity to fill the gap in community banking access. By installing convenient and compliant on-site ATMs , stores can appeal to financial institutions as a key partner - and essentially become destinations for basic consumer financial services.

When a neighborhood bank branch shuts down, the bank or credit union’s partnership with a local retailer lets them direct their account holders to trusted retail partners to handle their ongoing ATM needs. This maintains customer satisfaction while driving more foot traffic to partner retailers.

Of course, one of the fastest ways to take advantage of both reliable ATMs and bank partnerships is with a reputable ATM provider . These companies already work regularly with banks, credit unions and ATM manufacturers for a variety of programs – and can help retailers launch lucrative on-site ATM programs quickly.

Having an ATM can Boost Sales Through Added Foot Traffic

When managed strategically, retailer-hosted ATMs don’t just provide convenient community banking access. They can also substantially boost in-store sales. Industry research shows that roughly 20% or more of the cash someone withdraws from an ATM is typically spent at that same retail location.

Moreover, consumers tend to be creatures of habit, returning regularly to the same trusted ATM sites to fulfill their banking needs. This translates into a steady stream of foot traffic and sales for retailers who install compliant and well-maintained machines.

With smart ATM partnerships in place, retailers can benefit from the mass bank branch closure trend. This unique opportunity won't last long though. Contact BFC Enterprises now to get a free ATM for your business and talk to us about how a partnership with a bank or credit union can help you increase sales.

5 Reasons Bars and Nightclubs Should Consider Digital Jukeboxes

Sun, 10 Dec 2023 19:04:48 GMT

Here are just five of the many reasons you need a digital jukebox in your location.

The jukebox has enjoyed prized positioning at popular nightlife locations for decades. Music is a crucial element of any venue and patrons enjoy the ability to pay to play specific songs when they want to hear them. However, disc and record based machines limit the available music – both for standard play as well as selection for a customer base now used to unfettered digital access to a vast music library.

Digital jukeboxes, however, are changing the game for bars and nightclubs. Here are just five of the many reasons you need a digital jukebox in your location.

Massive Library of Music – Each digital jukebox system has access to hundreds of thousands of songs, without the square footage required for a larger analogue machine.
Control What Your Systems Play – Venue operators have full control over what genres and songs are played on their machines. Restrictions can even be applied to music categories available to patrons…since it would ruin the mood at a country club to suddenly have techno playing.
Routine Updates – Libraries available on digital jukeboxes are routinely updated. Some brands offer as many as three million+ tracks while others offer more than 300,000. Because of the regular updates, the libraries are continuously growing and changing.
App Integration for Customers – Some music systems offer downloadable applications, allowing patrons to spend money and interact with the venue’s digital jukebox system without leaving their seat.
Additional Features – Many digital jukeboxes offer additional features for the adventurous venue operator. Added options such as Karaoke have proven to be big hits in some locations.

No matter what type of nightlife venue you operate, music is likely to be a big part of the mix. Digital jukeboxes allow for smaller footprint with a wider variety of music than traditional music solutions.

To find out more about digital jukeboxes and whether they are the right fit for your location, contact BFC Enterprises today!

Despite the Age of Selfies Photo Booths Maintain Popularity

Sun, 19 Nov 2023 19:46:02 GMT

Despite the advent of digital photography and specialty photo editing and sharing applications, photo booths remain widely popular across age groups, especially for events.

Over half a century before the term “selfie” was even coined, portrait booths hit the streets of New York – attracting over 200,000 customers in its first six months. Invented by Anatol Josepho in 1925 the Photomaton, now referred to as a photo booth, was a huge success – becoming an enduring part of worldwide popular culture. The booths and their accompanying photo setup have been featured in radio programs, comics, movies and television shows fashioned as a common social activity for family outings, gatherings of friends and dates.

Enter the smartphone with its built-in camera and plethora of available applications including Snapchat, Instagram and TikTock. In addition to increasing accessibility to photo and video capability, smartphones provide a wide range of filters and editing capabilities previously reserved for professionals. With so much available in a common handheld device many would presume the large, unwieldy photo booth would simply fall by the wayside.

Yet, photobooths have maintained their popularity – especially for events.

Capturing the Moment

The appeal of photos has always been the ability to capture and share an event or moment. Film cameras, while widely used, required time for photo development to create archival quality photo printing. The introduction of the Polaroid addressed the consumer desire for immediacy while lacking the permanence of standard photography.

Digital cameras and mobile phones, while providing an even faster viewing experience than Polaroid, are stored as data. While the images can be shared online, they lack physical permanence and require special printing to create the quality, long-lasting photographs required for photo albums, scrapbooks, calendars and other memorabilia.

Photo booths have always offered a certain level of instant gratification when it comes to photos. However, time technology has allowed booth manufacturers to significantly enhance the nature of both product and experience. Many photo booths now combine some of the best features of digital photography and mobile applications within the unique booth platform.

In-booth editing and filters
Online photo sharing to popular social media sites
In booth or environmental (out of booth) photos
Unique backgrounds/frames

Despite the advent of digital photography and specialty photo editing and sharing applications, photo booths remain widely popular across age groups. Their nostalgic/vintage perception, timeless product, and ability to keep up with technology have transformed these machines from pop culture phenomenon into a preferred and often searched for consumer device. Rather than boot the photo booth into obsolescence, digital photography has established these machines as a go-to for any event.

No matter if you want a permanent photobooth at your arcade or need one for an event, BFC Enterprises has an option to meet your needs. Contact us today !

What Does PCI Compliance Mean for Merchants that Own Their ATMs?

Sun, 19 Nov 2023 18:46:06 GMT

If you own your own ATMs, Payment Card Industry (PCI) Compliance is essential for ensuring ongoing security – not just for your customers but also for your bottom line. However, with an upcoming compliance deadline of January 1, 2025, many merchant ATM owners are unsure how this impacts them directly.

While the 2025 deadline largely applies to ATM manufacturers and processors, taking proactive steps now to meet compliance can significantly reduce your risk exposure.

Here’s what merchants need to know.

Looming Compliance Deadlines

According to experts at the recent at the recent National ATM Council conference in Las Vegas, NV, the 2025 PCI compliance standards require:

ATM manufacturers to have upgrade paths outlined and new, compliant equipment and software available.
Processors to accept and encrypt transactions using the latest secure key block standards.

While merchants may think this buys them time, failing to upgrade non-compliant machines can leave merchant owners and operators highly vulnerable.

Exposure from Older, Non-Compliant ATMs

Criminals actively target older ATMs that have potential vulnerabilities. This concept has been consistently proven as bad actors go after machines that have failed to block off access points, lockdown software entry points, update operating systems, or upgrade to EMV. These machines are the ones most likely to lack:

Encrypted PINs and data
Anti-skimming and tampering protections
Updated software security

But it’s more than attracting ATM crime. Come 2025, non-compliant ATMs will face:

Supply delays if seeking last-minute upgrades or even newer ATMs, as demand spikes.
Greater liability if breached, as older ATMs lack security.

Though risks today appear minimal, merchants - even one ATM upgrade behind - compound their vulnerabilities. Machines that are several updates behind are just increasing their risk. More importantly, ATMs that are not fully compliant face a real possibility of taking on the liability should their machine become the target of an attack.

Partnering With a Reliable ATM Provider Can Help

Rather than shoulder the weight of liability or the ATM upgrade costs now and down the road when the inevitable mandatory security upgrade arises, merchants should consider partnering with a reliable ATM provider. BFC Enterprises , which has been in business more than three-quarters of a century, partner can take on the ownership and capital costs of maintaining upgrades and compliance of merchant machines. This includes passing off the liability associated with potentially out-of-date equipment or software.

By taking a proactive approach to ATM compliance now, merchants can focus on their business operations and making money – rather than potential risks and losses. Partnering with BFC Enterprises is an effective way to cost-effectively provide customers with secure, compliant ATMs while reducing your long-term risk exposure.

Don’t wait until the last minute – make the smart choice for your business before January 2025.

Contact BFC Enterprises today to see how your business can continue to provide safe and secure cash access while still benefiting from ATM surcharge income.

Can Playing Darts Improve Your Health?

Sat, 18 Nov 2023 19:14:18 GMT

Darts is one of the oldest games around with roots dating back to medieval England . While the game has survived hundreds of years, is it possible the game is healthy for you?

Here are some compelling reasons playing darts on a regular basis may have benefits worth exploring.

Hand Eye Coordination – There is no denying that playing darts develops the hand eye coordination of players. Repetition undeniably develops precision and accuracy of the player. In a digital age where cars park themselves, this is an extremely important skill for our brains to keep sharp.

Develops Focus – With social media, the average attention span has sharply declined. Darts gives your brain the needed exercise in concentration that our lifestyles lack. Even casual players will develop skills when aiming for specific targets. Developing the skill of focus can have positive effects in all areas of life.

Stress Relief – According to WebMD , 43% of all adults suffer adverse health effects from stress. Our bodies hold stress in and without moving the body and making time for hobbies and other activities, stress can build up. Heading to the local bar and playing darts does several things to relieve built up tension – it moves our focus off our worries, requires little physical exertion and most importantly gives players a night out – away from the stress of everyday life. So, when people say playing darts helps them to unwind, it truly does!

Social Skills & Teamwork – With so many people working from home and relying on social media, social skills of everyday Americans have taken a hit. One of the biggest benefits of playing darts is the camaraderie of the game. Joining a darts team will develop the skills necessary not only to compete, but to help carry this necessary skill into other areas of life. It’s a game just about anyone can play. Families, friends, co-workers and even strangers benefit from playing darts at their neighborhood bar or pub.

BFC Enterprises can bring darts to your location and help you attract new and repeat customers! Arachnid Galaxy Fire , a revolutionary digital advanced dartboard features a 19” color monitor, online casual and league gameplay, worldwide play rankings and stats, and a full slate of graphics, sounds and animations, and a full slate of 01 and Cricket games.

With so many new opportunities for head-to-head play, this dartboard is sure to ignite the competitive spark in league and casual players alike… as well as help your customers de-stress and stay healthy!

Contact BFC Enterprises to find out how easy it is to add amusements and arcade games to your location.

Increase ATM Usage in Your Retail Store with These Tips & Tricks

Sat, 18 Nov 2023 18:45:00 GMT

It’s no secret surcharged ATM transaction volumes are dropping. Consumers don’t want to “pay for their money.” Banks are throwing all their money at digital solutions, neglecting to continue promoting traditional channels. And so many people have moved or changed jobs since 2020, they often no longer know where to find convenient ATMs.

Here are a few tips and tricks to help drive more traffic to your ATM:

Brand Your ATM

Apply eye-catching decals and signage to make your ATM stand out. Use your store’s logo, brand colors, and unique fonts to make your ATM really pop. You can even wrap the ATM in branded graphics or install an illuminated sign or fascia. An ATM wrap and topper signage is extremely affordable and will pay for itself in no time by drawing more attention to the ATM.

Plus, when you brand the ATM customers will begin to associate your store with fast access to cash and the distinctive branding will build awareness so your ATM is top-of-mind. With bright branding and signage, the ATM becomes a recognizable feature and key differentiator for your business.

Increase Awareness of Your ATM

Don’t just install an ATM and expect customers to use it. Let consumers know you have an ATM before they walk into your business. Affordable promotional tactics include outdoor signage or flags, window signs, pump decals if you sell gasoline, and note its presence on receipts.

Another tactic is to make the ATM front and center on your website, app and social media. If your business is in a rural area or perhaps is the only one in the immediate vicinity, let local businesses know you have an ATM on-site. Something as simple as posting a flyer at nearby businesses, hotels, apartments, and other retailers will help boost traffic to your business and to the ATM.

Optimize ATM Placement

Your ATM location significantly impacts usage. Place it near the entrance to improve visibility. The ATM should be the first thing a customer sees when they walk in the store and the last thing they see when they leave. While security is important and the ATM should be not be near windows that could easily be broken, it’s also important to avoid areas that are tucked-away and require a consumer to walk through the entire store to use it.

Proximity to registers is also ideal. Customers can grab cash and make purchases in one easy trip. It also helps to consider natural traffic flows in your store when determining placement. Make your ATM accessible from multiple directions so customers don’t have to go out of their way to gain access. Ultimately, convenience is key to boosting usage.

Ensure Excellent Uptime and Service

Nothing is more frustrating than going out of your way to get cash and finding the machine out of service. To attract and retain customers, ensure your ATM has maximum uptime. Partner with a reliable and reputable ATM service provider, like BFC Enterprises , to be proactive about maintenance and quickly resolve technical issues. Great service is one of the things that makes an ATM more appealing.

Other considerations include making sure the machine is appropriately stocked with cash, the area around the ATM is clutter-free and the machine is kept clean to provide a truly positive user experience. A well-maintained ATM encourages regular usage.

Following these tips can help make your ATM a convenient and well-known cash access point for local customers. Branding your machine, increasing local awareness, optimizing ATM placement, and ensuring excellent service are all tactics that will increase transactions… and surcharge income. With the right strategy, your ATM can provide a resource for loyal customers and immense value for your business.

CONTACT US TODAY FOR EXPERT ADVISE

ON HOW TO INCREASE ATM TRANSACTIONS!

Amusement Game Tournaments Help Create Real Revenue Opportunities

Sat, 30 Sep 2023 19:39:54 GMT

Entertainment venues and food establishments are always faced with the ongoing question…how do we grow revenue?

Some turn to catering and event rentals. But there are easier ways to ensure regular customers and maintain excitement - amusement game tournaments.

The ultimate goal of any game event is to entice a large group of people to spend time at the venue leading to an increase in overall sales in addition to fees incurred for actual game play.

Tournaments can be one-time or assigned recurring time frames. But they can also take numerous forms. One option is to have a tournament on the same night, at the same time for a specified time frame, similar to a bowling league – with advertised prizes. Or they can run for weeks or months at a time. If planned properly, amusement game tournaments can bring in a committed group of regular customers for the establishment. These types of programs have become popular enough to develop world-wide followings and in some cases have factory or name brand sponsored championships.

Some of the most popular game tournaments and leagues are formed around billiards, darts and Golden Tee golf. However, other games also lend well to the platform including Silver Strike bowling, air hockey and Buck Hunter. Scoring programs can be maintained in-house or through your amusement game operator.

The key to creating an enticing game tournament program is to plan ahead. Talk to current and target clientele to gauge interest. Know your timelines such as how often the groups will meet and for how long. Determine which time of the year and days of the week will help your business and not conflict with your target audience schedules.

In general, remember that amusement game tournaments should be bringing in business rather than deterring regulars and overtaxing staff. If you want to bring in more revenue but have questions about when or how to best utilize your games to create attractive tournaments, contact us today! Our experts will be happy to help.

What Does the Visa/Mastercard Rate Hike Mean for Merchants?

Sat, 30 Sep 2023 17:58:38 GMT

With Visa and Mastercard set to raise rates in October 2023 and April 2024, many small business owners are concerned about the impact on their bottom line. While the exact increases have yet to be announced, analysts predict hikes of up to 0.2%. But, for merchants already operating on slim margins, even slight rate increases can significantly eat into profits.

Thankfully, there are steps merchants can take to offset these extra costs.

Surcharging is Still Alive and Well

One option merchants have is to pass on the extra fees directly to customers through surcharges on card transactions. This type of surcharging is legal in most states and territories, though not available in Connecticut, Massachusetts or Puerto Rico. However, surcharging rules have tightened recently. Previously, merchants could add surcharges of up to 4% to credit card sales. Now the cap sits at 3% .

But, while lower than before, 3% surcharges still allow merchants to recoup some of the swipe fees charged by Visa, Mastercard, and card-issuing banks. And, when faced with an extra fee at checkout, some customers may even opt to pay with cash instead. This allows the merchant to avoid the high credit card processing rates on those transactions altogether.

What Are the Benefits of Cash Payments?

Speaking of cash, accepting and encouraging cash as the primary form of payment is another way for small businesses to sidestep card processing fees. With cash, merchants keep 100% of the payment. There are no hidden swipe fees from third parties. Even better, cash doesn’t rely on electronic systems, so connectivity issues don’t jeopardize transactions.

From a customer experience standpoint, paying in cash can feel simpler when compared to chip cards. Customers don’t need to remember PINs or sign receipts. Plus, cash provides a certain psychological benefit, making purchases feel more tangible and controlled.

For merchants, cash transactions are anonymous, uncomplicated, and fee-free. However, carrying large cash volumes does pose some risks. Smart cash management and regular bank deposits are a must.

Add an ATM to Drive Cash Usage

To incentivize cash payments among customers, consider placing an ATM on-site. When customers can grab cash right where they’re shopping or dining, they’ll be more inclined to use it. Plus, you’ll earn money on every ATM withdrawal. But if your goal is to encourage cash payments at the register, consider setting a low surcharge for even better results.

Be sure to advertise the ATM and cash payment discounts prominently in the store, with outdoor signage and online for added success. And train staff to politely ask how the customer will pay and mention the cash discount.

Brace for Rate Hikes Creatively

Visa and Mastercard rate hikes will soon impact millions of merchants. While surcharging and cash discounts won’t eliminate the fees completely, they do provide creative means of offsetting the extra costs. Savvy small business owners will deploy these and other tactics to keep commerce affordable even as swipe fees hit new heights.

Don’t have an ATM?

Not sure if your current ATM will meet PCI compliance requirements?

Why Instant Win Games Bring Instant Success

Mon, 28 Aug 2023 19:51:17 GMT

Today’s consumers are used to immediate responsiveness. Advanced computer technology and smart phones have eliminated the need to wait for nearly anything. The same has become true of entertainment. Consumers expect immediate enjoyment from their investment.

Instant Win

Amusement games that provide instant win options cater to current consumer preferences in today's fast-paced environment. Instant win games provide immediate interactivity for the user as well as a guaranteed prize upon completion of the game.

The Strategy of Instant Win

In today’s fast-paced society, immediate engagement and gratification are highly desired. This consumer trend makes instant win amusement games a big hit for people of all ages.

To find out more about how your establishment can benefit from instant win games, contact BFC Enterprises today !

Why Cash and Coins will Never Go Out of Fashion

Mon, 28 Aug 2023 18:50:17 GMT

The media often claims the days of cash and coins are numbered. Even a few financial institutions, such as the oldest credit union in Maine , have announced they will no longer accept coins, and some European countries are slowly phasing out cash payments. However, the data doesn’t support the “digital only” hype.

Studies show that cash is still widely used throughout the United States, especially by lower-income households. Consumers also turn to cash in times of crisis. The truth about currency is that payment choice is necessary, and cash and coins will never truly go out of fashion.

Cash Still Dominates Small Transactions

Despite the rise of digital payments, cash remains the most common method for making small, everyday purchases. According to the Federal Reserve Bank of San Francisco, the majority of payments (38%) under $25 are still made in cash. In addition, their 2023 Diary of Consumer Payment Choice found that cash account for 55% of payments under $10.

Households earning less than $50,000 per year rely even more heavily on cash. Approximately 30-40% of their transactions are made with cash.

Steve deCastro, President & CEO of Gorham Savings Bank points out that the volume of check, cash, and coin activity has decreased at their financial institution. “But,” he said, “it’s still a pretty significant part of the transaction arena for us.”

Cash Use Rises in Times of Trouble

In times of economic trouble or crisis, consumers often turn to cash. Generation Z is now using more cash than in the past, mainly to save money during high inflation. According to a Foxbusiness article , Gen Z’s use of cash increased by 43% from 2021 to 2022.

Paysafe’s 2022 research found that younger consumers aren’t the only ones displaying this trend. Consumers in general rely more on cash during times of crisis. The survey showed 24% of U.S. consumers increased their cash use during the COVID-19 pandemic. Those consumers viewed cash as a way to stay in control and avoid overspending during uncertain times.

Cash is so important in times of crisis that the Federal Reserve Bank of Kansas City included ATM fees and cash withdrawal limit notations in their natural disaster response guidance .

Cash and Coins Will Endure

In the end, cash and coins will never truly go away. Cash remains popular for small, everyday transactions and is relied upon heavily by lower-income consumers. People often turn to cash in times of economic trouble, natural disaster, or other crisis. And access to cash is still vitally important for millions of underbanked Americans. For all of these reasons, cash and cashless payments will continue to coexist for the foreseeable future. Cash and coins will remain fashionable as long as people value their unique benefits.

Discover how you can leverage an on-site ATM to provide the cash convenience consumers continue to need . Contact BFC Enterprises today!

New Tax Laws Affect Cash Use and ATMs

Tue, 25 Jul 2023 11:18:15 GMT

A recent IRS change to tax procedures has caused quite an uproar for individuals and businesses who regularly use online systems like Venmo, Cash App, Zelle, or PayPal. Why, you ask? Because the U.S. Gig Economy is about to be hit pretty hard with additional taxes and paperwork.

You see, up until 2023, these popular payment applications have been required to report and provide 1099-K forms only for accounts receiving over $20,000 across over 200 transactions. Essentially, only accounts doing a LOT of transactions. But now accounts can get dinged with additional reporting and paperwork for anything more than $600 – whether it’s one transaction or several.

As the rule goes into effect, these third-party payment businesses will start issuing 1099-K tax forms for delivery on or before January 30. And anyone receiving one must include it in their tax filings in April.

Why Does it Matter?

The lower value threshold means the new tax law will affect millions of Americans who actively make small incomes online - many of whom (49%) have full-time jobs and are just trying to make a few extra bucks to cover rising food costs or family vacations. The additional paperwork, reporting, and taxes tack on significant time, effort, headache, and costs to running a side hustle. Enough that some experts are worried the new regulations might discourage gig economy participation.

Though regulators are quick to note the new rules don’t apply to selling personal items at a loss, reimbursements to friends and family, or money sent as gifts. These might appear on an account’s 1099-K but should be listed as non-taxable. However, there isn’t much information on exactly how those situations are broken out other than marking reimbursements or gifts as “friends and family.”

But selling a used vehicle online will result in a 1099-K that needs to be coded as a loss on your tax return. This really means EVERYONE, business or not, will be dealing with these headaches at some point.

Cash to The Rescue…Again

So, what are small businesses and gig workers doing to deal with this sudden change? Anyone that can accept cash is quickly fleeing payment applications in favor of hard currency.

Your local lawn care provider? Cash. That home repair contractor? They want cash. The moving company? Cash. Pretty much any gig economy worker that can leverage an in-person interaction is starting to ask for payment in cash.

Then that physical currency is funneled into the local economy for groceries, gas, restaurants, convenience, and other living essentials. Which makes the recent boom in cash payments even less surprising.

But the real question is, how are consumers PAYING all of these gig economy workers now that they don’t accept Venmo?

Easy. They make a run to the local ATM. Which, if you partner with BFC Enterprises , can be right inside your store. Discover more about how an on-site ATM can benefit your business. Contact BFC Enterprises today!

Get Ready for Football Season by Adding Amusements

Wed, 05 Jul 2023 15:52:47 GMT

While it may be hot outside right now, fall and football season is just around the corner. A lot of men and women are looking for outlets to get out of the house and watching the game at the local bar, pub or restaurant is a great way to do that. And a great way to attract customers and keep them on-site long after the game ends is to add amusements.

Here are our top three amusements recommendations you should consider adding:

Pool Tables – One of the oldest and still highly favored amusement is a pool table. With about 46 million people playing every year, pool tables are a tried and true favorite game that has never gone out of style. To cash in on this investment year-round – not just during football season, holding tournaments and getting a team going is a great way to attract new customers and keep regulars coming back.

Arachnid Galaxy 2 Live Digital Darts – The Galaxy 2 is the latest in digital darts. There are a variety of games that come standard and can handle anywhere from one to eight players. It’s suitable for both beginners and more advanced players, which means any patron can get in on the action. The Galaxy 2 has internet options for casual or league play. With this capability players or teams can compete against other players or teams across town or across the globe.

Golden Tee PGA Tour – Golden Tee is an incredibly popular game among all age groups and demographics. For 30 years, Golden Tee has led the pack in virtual golf gaming. The latest release includes new courses, designs and legend John Daly. Holding tournaments will attract new patrons and provide a reason to keep regulars coming back.

With these and other entertainment options, customers will have many reasons to visit your bar or restaurant on a regular basis and stay longer while watching the big game throughout football season.

For more information about adding amusement game placements to your bar or restaurants, contact us today!

Taking Advantage of Cash Use in the United States

Mon, 29 May 2023 18:22:08 GMT

Despite the multitude of surveys reporting a growing preference for credit, debit and mobile payments, a recent Diary of Consumer Payment Choice report from the Federal Reserve Bank of San Francisco tells a different story. When actual transactions are faithfully documented, cash remains a primary preferred payment choice. Not only do U.S. consumers still utilize currency, cash was one of the top two payment choices across a wide range of spending categories.

Why Does Cash Linger?

It seems inevitable that, with so many new, more convenient payment choices available, cash would be on its way out. But the truth is these other payment forms are not as “convenient” as the hype would have us believe. Credit card companies charge merchants a percentage of each transaction. Mobile wallet options such as ApplePay and digital options like PayPal are no different. Each platforms add additional fee.

And merchants have had to raise the prices to consumers in order to make up for the lost revenue. It is largely due to these additional fees that there still exist cash-only businesses. Some businesses have even implemented discounts for cash payments and many refuse non-cash payments for purchases below certain amounts.

In addition to added expense, new financial technologies are creating more legislation, regulation and compliance mandates. Their basis in digital processing make them more vulnerable to hacking – putting consumers and merchants at greater risk. This risk has caused government and card networks to implement regular software and equipment upgrades, back-end changes and other updates to increase security. Despite all of this, the systems often seem to be reacting to criminal activity rather than preventing it – as proven by continued data breaches and identity theft reports.

Amidst all the hoopla of security concern, cash maintains its stranglehold on the image of safety. As such, currency continues to remain a highly valued and useful payment choice.

Taking Advantage of Cash

Due to the continued hype of non-cash payments, many establishments undervalue the usefulness of providing cash access to consumers. However, the ability to access cash safely and conveniently has become a valued commodity – driving consumer decisions in banking, travel, residence and employment.

ATMs are no longer just for financial institutions and retailers. Hotels, businesses, transportation and residential establishments can also benefit from providing the additional convenience these machines provide.

Employees report on-site bank account and cash access as a helpful benefit
Travelers rely heavily on cash and often select hotel venues that provide this service
Residential buildings that provide on-site cash and account access increase the safety and satisfaction of their residents

Find out more about how your business or location can benefit from having an ATM on-site and consumer reliance on cash.

Contact BFC Enterprises today to find out if you qualify for a hassle-free, turn-key ATM for your business!

The Benefits of Reloadable Plastic for Arcades and Game Rooms

Thu, 04 May 2023 15:59:43 GMT

Most people associate arcades and game rooms with a pocket full of quarters or tokens – the familiar jingle a fond memory of good times with friends and family. Despite this tradition, bigger gaming establishments like Dave & Busters and Incredible Pizza have abandoned the time-honored coin setup for a different system... reloadable cards.

Now, amusements providers are beginning to offer similar options to smaller arcades and game rooms. But what are the benefits of cards versus coins?

Better Data & Reporting – Rather than counting coins or tokens after the fact, card systems provide game use information in near real time. This can help operators and establishments better determine busiest days/times and even general audience – leading to better decisions on game selection and placements.

Increased Machine Up-Time – Tokens and quarters can cause jams or fill up boxes. Card systems eliminate customer frustration and loss of revenue by eliminating these mechanisms.

Better Party Packages – Card systems allow establishments to pre-load cards with specific amounts for group events. This option expands the benefits of party/event packages while encouraging additional game play.

Update Pricing Based on Times/Events – Unlike coin/token operated game rooms, card systems allow prices to be temporarily or permanently adjusted with ease. Operators and establishments can raise or lower pricing based on time of day, event or other factors. Pricing adjustments can also be applied to specific games to take advantage of new releases, popularity, etc.

Better Marketing – Reloadable cards are more likely to be kept in customers’ wallets than in their pockets, encouraging continued use and higher visibility. Cards can be customized with individual establishment brand and messages to take advantage of regular viewing and promote return customers.

There are many advantages to using reloadable cards over the standard coins or tokens seen at many amusement game rooms and arcades. Larger gaming establishments are already capitalizing on these benefits. Now, other amusement locations can realize the value of cashless/loyalty systems, too.

To find out how your arcade or gaming room can benefit from reloadable cards, contact BFC Enterprises today!

Keep Customers Coming Back by Hosting a Golden Tee Tournament in Your Venue

Thu, 04 May 2023 00:56:31 GMT

Golden Tee is one of the hottest games on the planet. Since its inception 30 years ago, players flock around the virtual golf game after work, on weekends and any time they can. ESPN joined in the Golden Tee momentum earlier this year when it televised the live from Las Vegas. Bets were even taken on the World Championship, which was held at The Orleans for the second consecutive year. The launch of the Golden Tee app for mobile devices was just announced on Golf.com .

But how can you cash in on Golden Tee? One of the easiest ways is hosting Golden Tee Golf Tournaments at your venue.

Golden Tee tournament nights are happening across the U.S. Search the internet for Golden Tee and you will find an abundance of sites dedicated to the game and its fans. BFC Enterprises has teamed up with PromoNation to make hosting a tournament simple and rewarding for customers and bar owners alike.

By teaming up with PromoNation, BFC Enterprise customers will get the tools needed to attract local consumers, increase participation numbers, increase profits and increase brand awareness. The competitive nature of Golden Tee has helped establish it as one of the best investments for a bar or restaurant owner. A tournament will serve to entice players to come out and play, spend money on food and drinks and keep them coming back week after week.

We recommend setting a date that allows time for ample promotion and using the best practices for rule establishment. Food and drink specials would also be a plus for increased sales. Planning to go live on social media during the tournament and at the winner announcement will create buzz and interaction with your brand. In addition, creating a hashtag specifically for your venue’s Golden Tee event will also help gain attention and interest.

PromoNation also has a player rewards program that will boost repeat customers visits between tournaments. The Loyalty Reward program allows players to earn game gift cards back on every game they play. Players will get gift cards for FREE play when they reach a monthly game total of 50, 100 or 150 games. By incentivizing the players to come back to your location, you will enjoy the increase in traffic and sales leading up to and after the tournament.

To learn more about adding Golden Tee to your venue, contact BFC Enterprises .

What You Need to Know About New PCI Regulations

Thu, 20 Apr 2023 17:24:55 GMT

Here’s what you need to know about upcoming PCI mandates and how it may affect your ATM.

As an owner of an ATM, you know how this handy cash machine benefits your business and customers and that you earn money each time a consumer withdrawals cash. What you may not be aware of are upcoming PCI mandates that may affect your ATM.

We’re here to help. Here’s what you need to know.

What is PCI DSS?

PCI DSS refers to a series of security protocols that have been put in place by major credit card companies to guarantee that businesses that take card payments are implementing the appropriate measures to protect consumer data. These standards are frequently revised in response to the continuously evolving risks posed by criminals who aim to steal sensitive consumer information.

PCI Key Block Requirements

The latest mandates, known as the PCI Key Block Requirements , aims to improve the encryption of the data sent from ATMs to payment processors. This means owners of ATMs must ensure their machines have the latest PIN pads, software and firmware.

Upcoming Deadlines:

By December 31, 2024 , all ATMs with older PIN pads must be upgraded. If your ATM was manufactured in 2020 or after, chances are you already have the correct hardware. Upgrade kits are available for most machines. However, some older machines will not have an upgrade path and will need to be replaced. If you're unsure whether your ATM has the most up-to-date PIN pad or needs to be replaced, contact us.
By January 1, 2025 , the software and firmware that operate the PIN pad must be loaded and activated.

What if you don’t upgrade?

It's critical to take action now. ATMs not upgraded and have the appropriate software turned on by January 1, 2025, will go dark. Data sent from the ATM to the payment processors will not be able to be encrypted and transmitted, leaving customers scrambling to find another ATM to get cash. Moreover, you will lose the income you earn each time a customer withdraws money.

As more consumers turn to cash to make ends meet and combat rising prices due to inflation, not having a functioning ATM on-site could have an impact on traffic and/or deter regular customers. Increased usage of debit and credit cards will also affect your profit margin in the form of higher card processing fees.

While the new PCI regulations may appear daunting, they bring significant advantages to both ATM owners and customers by securing consumers’ sensitive banking information, and play a vital role in preventing fraudulent activities.

We’re here to help! If you’re unsure whether your ATM needs to be upgraded or replaced, contact us, and we'll assist you in determining the best course of action.

We encourage you to act now! The US is still experiencing supply chain issues, and as the deadline approaches, the availability of technicians to install new PIN pads and the required software may become an issue.

Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!

Insights for U.S. Businesses from Countries that Tried and Failed to Implement Cashless Societies

Mon, 27 Mar 2023 18:50:06 GMT

What can the US learn from countries that have tried to create a cashless society and failed?

The approach towards a cashless society varies across countries and it is interesting to observe how some are actively embracing it while others are not taking steps in that direction. According to the European Central Bank, cash was the most commonly used payment method for point-of-sale transactions, both in-store and person-to-person, accounting for 59% of such transactions in 2022.

Sweden is often cited as the leading example of a cashless country, with only 13% of its population using cash on a regular basis. However, for some consumers not being able to pay in cash is a real concern. Recently the Swiss Freedom Movement (FBS) announced it had collected enough signatures to trigger a national vote to preserve cash for posterity . If passed, Switzerland would be the first country to pass a law that would ensure citizens always can pay in cash.

While some countries like Sweden have opted for a combination of electronic payments and cash, others such as India have attempted to transition to a cashless society and faced challenges. So, what’s can US businesses learn from the various challenges other countries have faced?

Pros & Cons of a Cashless Society

Advocates of a cashless society point to the fact that electronic payments offer higher efficiency, security, and transparency compared to cash. Electronic payments can be processed quicker and are more accurate, lowering the risk of clerk errors and delays in merchant payments. Furthermore, electronic payments mitigate the risk of theft and counterfeiting while also enabling better tracking and monitoring, thereby aiding in identifying and preventing fraudulent transactions.

On the other hand, tracking and monitoring transactions is the number one reason cited as why consumers are reluctant to move towards a cashless society. In a cashless society every financial transaction can be tracked, recorded, and potentially shared with third parties without consent. This raises concerns about privacy violations, government surveillance, and data breaches.

In addition to privacy concerns, a cashless society requires a reliable digital infrastructure, including secure payment systems, high-speed internet, and widespread access to digital devices. In underdeveloped countries and rural areas or in time of crisis such as a hurricane, tornado or earthquake, infrastructure may not be stable – leaving citizens with no way to pay for essentials items.

The absence of these technologies is one reason why India failed in their attempt to move towards a cashless society. It was hampered by technical glitches and outages in the digital payment systems.

US Cities & States Fighting Move to Cashless

In 2020 New York city passed legislation making it illegal for retailers to not accept cash for in-person sales, joining other big cities like Philadelphia, San Francisco and Washington, DC.

U.S. state legislatures have also expressed concerns about the move towards a cashless society and have taken steps to prevent businesses from refusing to accept cash payments . Cashless bans are already in place in several East Coast states including: Massachusetts, New Jersey, Connecticut, Rhode Island and Pennsylvania as well as California, Oregon, Colorado and more. Already in 2023, cashless bans have been proposed in Seattle, Arizona, Oklahoma, Missouri, Illinois, and a half dozen more.

But why? The reasoning behind these laws is similar to the concerns raised in other countries - financial exclusion and privacy. Cash payments are widely used in the US, particularly among low-income households, Baby Boomers, and those without access to digital payment methods. According to the report issued by the U.S. Congress Joint Economic Committee roughly 20% percent of U.S. adults are either unbanked or underbanked , meaning they lack access to a bank account or rely on alternative financial services. And a disproportionate share of lower-income earners are people of color.

By requiring businesses to accept cash, these laws aim to ensure that everyone has access to goods and services, regardless of their financial situation or access to technology.

There are also major concerns around privacy and surveillance, with some legislators worried that a move towards a cashless society could give government too much control over people's finances as seen in 2022 when Canadian banks froze about C$7.8 million ($6.1 million) under emergency powers meant to end protests in Ottawa and at key border crossings.

According to the International Monetary Fund, in a cashless society the general public won’t have access to “ a state-guaranteed means of payment and the private sector will to a greater extent control accessibility, technological developments, and pricing of the available payment methods.” By requiring businesses to accept cash, these laws aim to protect people's right to privacy and financial autonomy.

What is the Lesson?

A mixed payment system has more pros than cons for both consumers and merchants. It guarantees equal participation in the economy for all, irrespective of their income and access to a bank account. It also allows consumers to select a payment method that aligns with their requirements and preferences, whether it's cash, credit cards, mobile payments, or any other option. Additionally, a mixed payment system helps prevent any single payment method from dominating the market - promoting healthy competition.

The Swedish government is a great example of a well-balanced payment infrastructure that accommodates both cash and digital payment methods, ensuring that everyone has access to the payment options that suit their needs best.

Give your customers easy access to the cash they need with an ATM in your business.

Contact BFC Enterprises to discover if your business qualifies for a free, turn-key ATM.

Pros and Cons of Running a Cash-Only Business

Tue, 07 Mar 2023 19:41:12 GMT

It may be a growing trend for businesses to operate their financial matters digitally, but running a cash-only business can be done quite lucratively.

Can you imagine only taking cash? In fact, the cannabis industry has to almost exclusively do exactly that as Visa and MasterCard rules do not allow them to take card payments. But what does running a cash-only business really look like and how much of a headache would it really be to ditch the card networks in favor of real currency?

Why Would Anyone Go Cash Only?

There are a wide range of potential benefits from ditching non-cash payments in favor of physical currency, including:

Protection from chargebacks
No waiting for payments to clear the bank
No paying for point-of-sale credit and debit card systems
No worries about PCI compliance or cardholder protection at the point of sale

It should probably be mentioned that accepting ONLY cash is perfectly legal. There are no federal laws that say a retailer has to participate in card networks to accept non-cash payments. It would be a serious problem if there was, considering the amount of money the networks charge in fees to participate on their digital rails.

That brings us to the primary reason most businesses choose to go cash-only – fees. Credit and debit card companies charge a percentage for every single transaction. Unfortunately, that percentage can chew heavily into the bottom line.

Stores that sell small dollar items can be the hardest hit as their profit margins are so small. A $1 purchase minus a 4% fee is only $0.60, quickly removing what little revenue would have been made on the sale.

Ultimately, going cash only means the store receives its profits faster, retains more profit and protects customers’ digital accounts. But clearly cash-only can’t be all sunshine and rainbows or more businesses would avoid non-cash payments.

Why Bother with Non-Cash?

Cash is the most popular form of payment for purchases under $25 . Anything above that amount and most customers will want to pay with debit, credit or prepaid. So, going cash-only could risk alienating or upsetting consumers. In some cases, it might even cost you some sales.

But there are other risks when it comes to cash-only business, including the time it takes to count, audit and deliver cash and coin to the bank. Then there is the potential security risk due to employee theft, counterfeit bills and robbery. Finally, any cash-only business has an increased risk of audit as there is less of a paper trail to verify all profits are fully accounted for.

Whether You Choose Cash-Only or Not, An On-Site ATM Can Help

To go cash-only or diversify payments is an in-depth decision that must consider the business’s ticket size, customers and non-cash fee losses. But whether the business accepts cards or not, there are simple ways to encourage cash payments whenever possible – like placing minimum purchase requirements for cards and having a highly visible on-site ATM.

Prominent store-based ATMs can give customers basic financial services such as account balance inquiries, balance transfers, and fast and easy access to cash. On-site machines also open up new opportunities for retailers struggling with the cash-only versus card dilemma – by providing an easy way for customers to grab cash for their purchases.

So, whether your business goes cash only, implements minimum purchases or decides to accept multiple forms of payment, an ATM makes sure customers have an easy way to meet their needs and pay for their goods.

Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!

The Benefits of Reloadable Plastic for Arcades and Game Rooms

Sat, 25 Feb 2023 23:05:14 GMT

Arcades and game rooms are beginning to reloadable plastic options. But what are the benefits of cards versus coins?

Most people associate arcades and game rooms with a pocket full of quarters or tokens – the familiar jingle a fond memory of good times with friends and family. Despite this tradition, bigger gaming establishments like Dave & Busters and Incredible Pizza have abandoned the time-honored coin setup for a different system... reloadable cards.

Now, amusements providers are beginning to offer similar options to smaller arcades and game rooms. But what are the benefits of cards versus coins?

Increased Machine Up-Time – Tokens and quarters can cause jams or fill up boxes. Card systems eliminate customer frustration and loss of revenue by eliminating these mechanisms.

Update Pricing Based on Times/Events – Unlike coin/token operated game rooms, card systems allow prices to be temporarily or permanently adjusted with ease. Operators and establishments can raise, or lower pricing based on time of day, event or other factors. Pricing adjustments can also be applied to specific games to take advantage of new releases, popularity, etc.

Find out how your arcade or game room can benefit from reloadable cards.

Contact BFC Enterprises today!

Top 3 Benefits of Amusement Games for Business

Sat, 25 Feb 2023 22:37:20 GMT

Wondering if having amusement and arcade games in your business can benefit your bottom line? The answer is a resounding yes.

Quality commercial amusement and arcade games are not a thing of the past. Amusement equipment has benefits for most current business settings – pulling on a mix of nostalgia and the desire for amusement. Instant wins, driving simulators, digital juke boxes, golf simulators, air hockey, billiards, darts and other games appeal to a wide audience providing entertainment for all age groups.

Here are the top 3 benefits of amusement games for business:

Eliminate Wait Times – Many businesses have regular wait times. Restaurants often have delays between ordering and food delivery. Sports venues may have adults and children with little to do while family members are in practice periods. Implementation of amusement equipment provides an outlet for these customers, reducing and often eliminating the overall experience of wait times.
Increase Revenue – Adding amusement games to your business not only provides additional entertainment for customers, it gives you another source of revenue. Customers pay to play machines and having games means consumers spend more time in your establishment - spending more money on things like food and drink.
Increased Customer Base – Businesses with amusement games attract more customers. These patrons post photos and status updates to social media - creating positive outreach to attract friends, family and coworkers to the establishment. Businesses can create even more return gaming customers and outreach by running or partnering to run regular tournaments on equipment where it is available.

Amusement games continue to have greater appeal to a growing group of customers who are regularly looking for more entertainment. Golf, darts, billiards, air hockey, basketball, racing and other games can help occupy wait times while increasing revenue and customer base.

Start Benefiting from Amusement Games.

Contact BFC Enterprises today!

How You Make Money with an ATM in Your Business?

Fri, 03 Feb 2023 00:37:05 GMT

The news pundits keep talking about the end of cash. So, one of the big questions for retailers is, can I still make money having an ATM? The answer, of course, is a resounding “YES”!

While pundits would have everyone believing standard self-service banking is on its way out, studies show consumers 18 to 34 years old visit an ATM over seven times per month. Older consumers use these cash and account machines five or more times in the same time frame. In fact, the standard ATM usually performs around 300 transactions on a monthly basis. That’s about 75 ATM users per week.

But how do we translate that ATM use into actual revenue? Here are a few options that can help retailers make real money from an onsite ATM.

Owning Your Own Machine Nabs You Most of the Surcharge

Owning and operating an onsite ATM seems like a no-brainer. After all, if you’re running the machine, you keep the vast majority of the revenue. You control how much the surcharge fee is and depending on how much work you’re putting in the more you make from ATM users who pay to get cash at your location. As a bonus, loading the machine with the store’s cash can help save on bank runs or armored carrier pick-up fees, especially for retailers that take in quite a bit of currency daily.

But running an ATM isn’t all profit. Businesses that choose to own and operate their own machine must also bear the brunt of the cost for all the pieces that go into making the machine run. These operational costs include but are not limited to processing, communications, first and second-line maintenance, and consumables.

However, owning and operating your own machine isn’t the only way to earn extra revenue with an on-site ATM.

Retailers Can Still Earn Money Without All the Extra Work

Retailers that want to make money from an onsite ATM don’t want to own and operate the machine, can choose an ATM placement program .

ATM placement programs take the burden of the equipment and operational costs off the retailer. A typical provider will include processing, cash loading, maintenance, and consumables all at the standard cost of the program.

But what about the surcharge fee? Placement programs come in different shapes and sizes. Some might charge a monthly fee and let the establishment keep the surcharge revenues. Others offer to split the surcharge revenue to lower or eliminate monthly fees to the retailer. In many cases, businesses with surcharge-split programs are able to offer the initial equipment placement for free.

And if you choose to do some of the work – loading cash and first line maintenance, like changing receipt paper rolls and clearing the occasional paper jam, you’ll earn more income.

Branding the Machine is an Almost Sneaky Way to Pull in More Money

Making an ATM look pretty might seem like a waste of money. After all, it’s just a cash box, right?

Nope, studies show wrapping an ATM with recognizable graphics and brands improves consumer trust – and can boost transaction volumes 20-40%. And more transactions mean more potential surcharge revenue.

But boosting transactions is not the only way to make money from the ATM. Advertising the store’s products, brands, and services on the machine or offer receipt coupons can help increase in-store sales. Or, for more direct incremental revenue, retailers can partner with their ATM provider to partner with a local financial institution to brand the machine with their trusted bank or credit union name.

ATMs can be lucrative for retail businesses. Despite expert opinions, consumers young and old flock to these machines as a convenient way to get cash. And, with such heavy usage numbers, in-store ATMs are almost a must-have.

But whether you want to own and operate your own or partner with a reliable provider to manage your ATM program, BFC Enterprises has a solution to provide the services your location needs to make the most profit.

Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!

Earn More Money and Meet Consumer Needs by Installing an ATM

Mon, 12 Dec 2022 17:00:21 GMT

With inflation and the price of goods and services not going down anytime soon, consumers are turning to an age-old solution to make ends meet - cash. Retailers can take advantage of this growing trend by providing the cash convenience consumers need with an ATM on-site.

Interest rates are rising, and food costs are sky-high. Despite regular reports saying inflation is slowing, there is little sign of goods and services getting any less expensive. So it comes as no surprise that today’s economy has many consumers worried about their finances. Surprisingly, people are turning to an age-old solution: cash.

And retailers can take advantage of this growing trend by providing the cash convenience consumers need with in-store ATMs.

A Battle to Manage Finances

Millennials have been hyperaware of debt since 2008 and the Great Recession. And with Millennials in debt for college loans, adding more debt to their already burdensome financial obligations is not appealing. Yet, as costs continue to rise, maintaining their standard of living often means more debt by spending more now with the intent to pay later. With over 41 percent of Millennials having at least one credit card, many are putting themselves further in the hole.

While Gen Z aspires to be more financially responsible, they aren’t immune to the temptation of racking up debt, either. However, rather than using credit cards, Gen Z is increasingly turning to “ buy now, pay later ” (BNPL) to pay for goods and services.

Essentially small-dollar loans, BNPL services can usually be found in the checkout section of online retailers under headings like “or 4 payments of $52 with X.” In many respects, they mimic the old-school “Zero Percent Interest if Paid in 6 months.” This easy way of getting what they want now and paying later has proved to be tempting to many Gen X and Millennials.

But, while these services don’t offer the same interest fees as credit cards or even traditional loans, they do include fees for late payments and rack up debt that Gen X and Millennials may or may not be able to afford. Worse, these companies rarely run a check to find out if the consumer has the salary to make payments.

Turning to Cash to Make Ends Meet

Using cash as a budgeting tool isn’t a new concept. Yet, younger generations are discovering that using physical currency is a great tool to help them manage their budgets. And, TikTok has further made cash cool again with young people posting about how they have discovered different ways to use cash.

Why cash? Using cash makes it difficult to spend more money than you have. But there is also a mental connection being made when you must trade something that you have in your pocket to buy a product or service. That interaction makes purchases and spending money much more ‘real’ for the consumer.

And the number of people choosing to use cash has a larger impact than digital and card payments networks would like everyone to believe. Demand for physical money has risen since the pandemic started and cash circulation is 16 percent higher year-on-year, with around 35 percent of in-person purchases made with cash.

How Having an ATM On-Site Benefits Retailers

Consumers like to shop in stores that cater to their needs. And easy access to get the cash they need is no exception. In-store ATMs offer consumers, especially Gen X and Millennials, the money they need in convenient locations near their homes, workspaces or places they frequent. Younger individuals use an ATM up to seven times or more per month and tend to use the same ATM each time.

Retailers with ATMs on-site generally benefit from higher levels of foot traffic and ATM users typically spend around 20-30% of their withdrawal in the store hosting their preferred ATM. Not to mention surcharges on transactions can also add a nice source of recurring monthly revenue for the retailer.

If you are looking for a way to cater to budget conscious consumers, having an ATM in your establishment is a great way to earn more money – by increasing foot traffic and adding a new income stream. An ATM in your location will not only will you be helping customers address inflation, give them the convenience they want. Resolve to make more money this year by installing an ATM.

Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!

Benefits of Having ATM in Your Businesses

Sat, 03 Dec 2022 15:21:07 GMT

Originally published by Market Business News

If you own and operate a business with a physical address, getting an ATM machine may not have crossed your mind. But what many people don’t realize is just how lucrative this can be. You may be missing out on a potential business asset that will bring a lot of money in!

Save on Credit Card Fees

Credit card companies charge a convenience fee every time a customer completes a credit or debit card transaction. If your profit margins aren’t as good as you want them to be, this extra fee can seem like a lot.

That’s why you want to encourage customers to pay in cash. With an ATM in your business, customers may think twice before taking out their credit card. After all, who wants to deal with credit card payments and a dent in their credit score?

Attract Customers Who Value Safety

If there are other places where you can withdraw money, would you choose to withdraw somewhere there’s no one around? It’s not unheard of for people to get mugged after withdrawing money from an ATM. That’s why as much as possible, people choose to withdraw cash where there can be potential witnesses.

So, if your retail business has good lighting and surveillance, consumers are more likely to stop by. Apart from the convenience fee you charge, maybe they’d even pick up a few items before going their way.

Just make sure that the ATM is visible. This way, even those who haven’t been in your store will know you offer this service.

Improve Customer Loyalty

People are creatures of habit. For example, if you go on a coffee run every morning, you probably go to the same coffee shop and even order the same coffee.

In some ways, ATMs can also have the same effect. People are more likely to withdraw cash at the same place because it’s familiar. If they know it’s safe at your business, expect them to withdraw money from your ATM regularly.

Increase Average Customer Spending

The most obvious reason to get an ATM is the convenience fee you can charge for using the machine. But not all people will just withdraw their money and leave! Odds are they’d also purchase something.

Having cash fresh from the ATM encourages people to purchase more. It can also encourage impulse purchases because customers believe they have more money to spend on miscellaneous items. Even small purchases can add up to significant amounts.

No matter what type of retail business you own, having an ATM can be beneficial to your bottom line by drawing more traffic, encouraging cash sales, increasing profits, and allow you to earn additional income each month.

Find out if your business qualifies for a free, turn-key ATM. Contact BFC Enterprises today!

Why Cash is a Better Gift than Gift Cards?

Fri, 21 Oct 2022 23:30:35 GMT

Gift card sales have boomed in the last few years. But is that the best use of your money?

Find out why CASH is a better option this holiday season and all year long.

Gift card sales have boomed in the last few years. In 2020, gift card giving was the go to item for Christmas and birthdays as shoppers avoided stores and even holiday gatherings due to the COVID-19 pandemic.

Due to supply chain issues in 2021, many gifts were unavailable and gift cards were again popular as many consumers hoped their friends and loved ones would be able to make their desired purchases when items became available.

This holiday season, as inflation looms heavy, gift cards are once again predicted to be the gift of choice for many consumers. While it’s difficult to buy gifts in normal times, with inflation at a record 40-year high many consumers are concerned about being able to buy gifts and stay on budget. Gift cards may seem like an easy way to avoid spending additional money on gift while still offering something of value… but there are many drawbacks to gift cards.

But Gift Cards are Not as Fantastic as They Seem

There are a lot of reasons to see gift cards as a good gift option. They are easy to buy, don’t need to be wrapped and they are convenient. But the truth is you might be throwing your money away. Billions of dollars in unused gift cards go to waste each year in the US every year.

Nearly half ( 47% ) of Americans have at least one unused gift card, voucher or store credit sitting in a purse or wallet, or collecting dust in a drawer. And eventually those unused gift cards expire, which means the recipient loses their gift while the business gets to pocket the value of the card.

Most gift card recipients work hard to make a purchase that stays within the card’s limit. If they purchase something that is less than the value of the card, the remaining balance often languishes. Those who can’t find what they want that is within the price range typically spend 40 percent or more over the value of the card.

But the biggest reason gift cards aren’t as great as gift givers may think is that it forces the giftee to make their purchase from a specific store.

Cash is a Better Gift Option

While it may not seem like you put much thought into a gift if you give cash, it’s actually a better deal for the recipient. Providing cash to friends and family means you are looking out for the short or long-term worth of the gift you are giving. Cash doesn’t expire and can be used for anything the receiver desires – whether that’s something extravagant, a meal, a toy for a child or rent.

Some might argue that gift cards look nicer. But you can’t fold a gift card into a fancy bow, and you can just as easily dress up cash with a fancy box, card, envelope or get some great ideas on Pinterest as you can some rounded-cornered piece of plastic.

But one of the best reasons cash is a better gift option is that it’s exciting to get cash and its ongoing use by every generation. Cash use grew to 22 percent in 2021. Americans 18-44 usually hold around $50 on-hand at any given time and Gen Z , especially, is beginning to discover the true value of cash when it comes to budgeting and gifts.

This Holiday Season, Choose Cash

Inflation and supply chains issues may make gift cards an attractive option this year. But stop and think about the difficulties gift cards really create for recipients. Rather than putting limits, expirations and responsibilities on your friends and family, instead consider giving them the freedom the gift of cash offers.

Find out if your business qualifies for a free, turn-key ATM. Contact BFC Enterprises today!

Gen Z Making Cash Cool

Sat, 01 Oct 2022 23:06:15 GMT

How Gen Z is Making Cash Cool, Again

Gen Z is paying and saving as if they aren’t in the current inflation-stricken economy. From the COVID-19 challenging financial situation and being raised with high food and gas costs, saving money and controlling finances is a concern for this younger generation.

Also, learning from the huge debts of their parents and grandparents, Gen Z won’t make the same mistake. Therefore, they are looking for ways to spend less on purchases and save. Interestingly, using cash is the method of choice for this up-and-coming demographic.

Cash usage declined due to competition from cards and other digital payment methods. The pandemic was also a major blow as misinformation was put out by the main street media that the virus could spread through paper currency, moving many Americans to online shopping and reducing cash usage. Yet, Gen Z’s love of cash couldn't break, with many saying they prefer cash for daily transactions since it helps them stay out of debt and take control of their finances.

Moreover, 37% of their payments are cash compared to 22% of Gen X and Millennials. A TikTok challenge with youths breaking Hennessy bottles to access their bills broke the internet, proving the effectiveness of cash usage among Gen Z.

Yet, despite the misinformation that paper money and coins could spread COVID, cash usage rose from 19% to 20% in 2021. That was the first increase since the Federal Reserve Diary of Consumer Payment Choice did its first research in 2016.

What’s Triggering Cash Use Among Gen Z?

In contrast to the general trend, a large fraction of Generation Z use cash. Arguments claim they are too young to use credit cards. Others claim they are concerned about taking on debt or may even believe it’s a great way to curb unnecessary spending.

So, what can American’s learn from Gen Z’s love of cash as we face record high-inflation?

Cash provides bargaining power : Discounts offered by small businesses are the biggest reasons Gen Z uses cash. Why? More and more merchants are using ‘Cash Discounting Programs,’ which impose fees on consumers who pay with a card. And with cash, consumers are likely to stay within their budget.

Avoid debt by using cash : With American debts soaring above $800 million , Gen Z consumers have learned from their parents and grandparents the bitter consequences of racking up debt through credit card usage. Gen Z has found a way to counter that risk - by using cash. They acknowledge that cash is tangible and easier to track and keeps them from overspending.

Cash makes budgeting easier : For many younger consumers, using cash helps them stay on budget. That became clear when the #CashStuffing hashtag went viral on TikTok . Through this online challenge, Gen Z is showing the world how they use cash to make reasonable purchases that keep them within their budget. Rather simple and old fashioned, cash stuffing is simple. At the beginning of each month, you allocate a certain amounts for purchases in respective envelopes such as groceries, utilities and lunch. This allows consumers to track how they spend and when they are run out of cash in each respective envelope, they stop spending. It’s also easy to set aside an envelope for savings!

Without a doubt cash is a terrific way to ensure you don’t overspend, stay out of debt and control impulse buying.

Find out if your business qualifies for a free, turn-key ATM. Contact BFC ATM today!

Why Americans are Turning to Cash and ATMs to Combat Rising Inflation

Thu, 25 Aug 2022 11:22:20 GMT

Record high inflation is raising the cost of living - from food and housing to fuel, to the cost of electricity and beyond, Americans are struggling to make ends meet, especially as their income is not rising as quickly as inflation. Additionally, many Americans continue to suffer from debt racked up during COVID. And with interest rates rising compounding the situation, many low income and middle-class consumers are tightening their belt and becoming more conscious about what they spend money on and how much they purchase.

Does this signal a recession? Even if the US government doesn’t want to speak about it openly or admit the country is in the midst of a recessions, citizens can see the writing on the wall. The economy is in decline and consumers are looking for ways to counter its consequences.

How Inflation has Increase Cash Usage

With consumer prices registering the highest inflation rise in 40 years, people are now more aware than ever how they spend and are looking for ways to cut expenses. In many cases, especially for Gen Z ers and Millennials, consumers are leaving their debit or credit card at home and turning to cash.

And the statistics show that paying in cash is more popular than ever. A recent Federal Reserve survey noted an increase in cash usage over the last two years, proving that despite the push for a “cashless society,” cash is alive and well.

According to the Diary of Consumer Payment Choice , many Americans simply prefer to pay in cash as an effective way to stay on budget. And with the price of everyday essentials showing no sign of decreasing many people are returning to cash budgeting.

The idea of spending less on purchases has also become very popular on social media. For instance, the #cashtuffing hashtag has gone viral on TikTok, where many users are challenging others to use cash to control their spending . While the increase in cash usage cannot be solely attributed to the TikTok cash stuffing challenge, for many, cash is simply a cheaper, quicker and more convenient way to remain on budget.

Using Cash and ATMs to Stay on Budget

Here are more reasons why consumers are turning to cash and ATMs during the recession to save money.

Using Cash Comes with Privileges - Merchants often use cash discount programs to offset the surcharges they pay for offering customers the privilege of using cards to pay for purchases. Typically, with a cash discount program consumers who use cash pay the price advertised and those paying with a card pay an additional fee of 2-4%, what the merchants would normally pay per swipe.

Cash Helps You to Stick to Your Budget - Statistics prove that a healthy cash budget increases savings vs. swiping a card. According to a study shared by ResearchGate , pay with cash over cards also creates a deeper connection and awareness of spending, helping to keep consumers reduce impulse purchases and stay on budget more easily.

Cash Makes it Easier to Avoid Debt – Most Americans carry some debt. In fact, US consumer debt is estimated to be over $800 million . With increasing prices and more volatility in the market, many consumers are turning to cash as a way to pay down debt. Using cash helps avoid debt as makes it easier to plan and avoid impulse purchases. Research by creditcards.com also shows that consumers pay about 17% more on average when using a card vs. cash.

History proves that during hard economic times, cash and ATM usage increases as consumers struggle to make ends meet. And retailers with an ATM in their business reap the rewards – not only earning income on every withdrawal but also by giving customers easier access to the cash they need.

Discover how your business could qualify for a free, turn-key ATM. Contact BFC ATM today!

Why and How Should Retailers Protect Consumers’ Right to Cash

Fri, 29 Jul 2022 22:38:46 GMT

Why and How Should Retailers Protect Consumers’ Right to Cash

Some retailers are buying into the hype about going cashless. And companies like Amazon are seeming to lead the charge. With over 12 Amazon Go stores in popular locations such as Chicago and New York, only a select few can accept physical US currency as a form of payment.

But Amazon is not the only retailer that has experimented with cashless operations. Restaurant chains, coffee shops and other establishments are turning away customers that attempt to pay with cash. And, while there are plenty of complaints on social media, it is not currently a federal law that retailers must accept cash.

Why Does Cash Matter for Retailers?

Merchants that are moving to cashless operations often reference the costs of cash-handling, the potential risks to employees handling large quantities of cash, and the increased speed of customer service when consumers use debit or credit cards. The assumption is that digital payments are less risky, save money and make customers happy. But are these retailers considering all of the angles?

Americans Want Cash to Stay an Option . Sixty-six percent of US citizens see cash as a secure and private payment option. Over a quarter (31%) prefer to pay cash for personal services or food (28%).
Some Consumers Don’t have Access to Digital Payments . Over 8.4 million Americans are unable to pay in form other than in cash due to a lack of access to bank accounts, debit cards or credit cards.
Generation Z Prefers Cash . Despite their heavy smartphone use and occasionally mind-boggling TikTok challenges, the up-and-coming generation’s top payment choice is cash .
Digital Payments Don’t Work in a Crisis . Let’s say your business DOES go cashless. What happens when a natural disaster or even a brown out hits and the electricity goes out? In nearly every crisis situation over the past 10 years, residents have had to rely on cash to pay for goods and services until electricity and internet are restored.
Digital Payments Often End Up Being More Expensive . Maybe it can be a bit of a pain to count change or balance cash drawers. But at least a cash payment means the business keeps their entire profit from each sale. Payments by card, on the other hand, eat into revenue of every single transaction. And that three to five percent add up fast.

How to Protect Consumer Payment Choice?

The good news is there are many states working to pass legislation to protect consumer payment choice. It is illegal for establishments to not accept cas h as a form of payment in Colorado, Massachusetts, Rhode Island, New Jersey and more. Even major cities such as Philadelphia, Miami and San Francisco have passed cashless bans.

The “Payment Choice Act of 2022,” (S.4497), which is designed to ensure every American has the right to pay with cash for in-person sales, was recently passed by the US House of Representatives and is on it’s way to the Senate as part of the National Defense Act.

Retailers can help protect their own businesses as well as their customer’s right to payment choice in a variety of ways, including:

Contacting your member of Congress and asking them to support of the Payment Choice Act.
Continuing to offer cash transactions at the point-of-sale in order to provide customers with a wide variety of payment options to meet their individual needs.
Providing additional cash access (and potential added business revenue) with an on-site ATM.

Discover how your business could qualify for a free, turn-key ATM. Contact BFC ATM today!

3 Ways to Improve Security at Your ATM

Sat, 02 Jul 2022 01:02:55 GMT

3 Ways to Improve Security at Your ATM

In today’s world of growing cybercrime, it’s almost shocking to see that physical financial crimes aren’t slowing down. But not every bad actor is digitally savvy and capable of using a computer to bolster their misdeeds. And for these more physically minded criminals, the ATM is a prime target.

Between 2019 and 2020, ATM damages and thefts increased by 220% . The incidents have become such an issue that the states of Missouri and Kansas have both increased penalties for ATM theft in an attempt to address the problem.

Incidents where vehicles smash through a building and take off with an entire ATM unit have risen by 53%. But it is not just smash and grabs increasing in frequency. More and more incidents include implementing explosives to break into ATM safes - risking fire, gas and projectile damage to the surrounding retail or banking establishment.

Fortunately, there are ways to help deter bad actors. Here are three ways to help keep ATMs safe.

Create Additional Barriers

Using a vehicle to destroy property for the purpose of gaining access to an ATM or the cash within is a preferred method of many criminals. Called “smash-and-grabs,” the operation relies on the ability for a vehicle to not only eliminate windows and ATM surrounds, but also create enough damage to the machine to make access easier.

Retail locations can help reduce access by installing bollard systems. Placed around a storefront, these concrete posts create a physical wall that is easy for consumers to navigate but effectively halt vehicles before they can generate damage to the building. Installed around stand-alone financial institution ATMs, they perform a similar service by protecting the ATM from being accosted by a car, truck or construction equipment.

Another viable option for the safety of stand-alone machines is the implementation of bolts or anchors . These heavy-duty pieces of hardware securely lock the machine into place, making it more difficult to physically remove the ATM.

Location, Location, Location

One of the simplest ways to protect an ATM is to place it in an area that makes it more difficult to attack. Part of this strategy is keeping the machine away from structural vulnerabilities . Windows, vestibules and exits all provide opportunities for access to the machine.

ATMs at convenience stores may find it safer to place machines near the register, close to the refrigeration units or near soda or coffee machines. Grocery store and pharmacy locations may find it prudent to place ATMs near the customer service or pharmacy counter. Any footprint that puts the machine within employee line-of-site and keeps it away from outside access points is ideal when addressing safety concerns.

Reduce the Rewards

Another option to help prevent ATM theft is to manage cash availability within the machine. Criminals who attack ATMs usually keep an eye on their target location ahead of time and their surveillance will give them an idea of the potential “take” to be gained from an attack on a specific machine. Lowering the amount of cash available makes the return on effort minimal.

While criminals are always looking for new ways to make a quick buck, ATMs are going to be a target. Fortunately, there are ways to manage the risks and improve security for these popular machines.

For the most secure ATMs, you can count on BFC Enterprises . Give us a call 314.961.9000 or contact us today!

3 Benefits of Having an ATM in the Workplace

Thu, 02 Jun 2022 19:47:19 GMT

3 Benefits of Having an ATM in the Workplace

It doesn’t take as much effort as some people might think to make employees happy. In fact, a good solution to putting a smile on their face may be as simple as a single cash machine in the break room. Because, as surprising as it may sound, employees love having easy access to do simple banking transaction in the workplace.

Here are three benefits of having an on-site ATM.

Meets Employee’s Financial Needs in the Workplace

Over two-thirds ( 64% ) of Americans are living paycheck to paycheck and with inflation at an all-time high, every penny counts right now. And no matter how employees are paid or whether they are salary or hourly, financial access is essential to a positive mindset and piece-of-mind. Having an ATM on-site provides employees with easy access to a wide range of financial options from cash withdraws to balance inquiries.

Easy access to cash without fees and being able to check account balances are especially essential for staff getting paid through a paycard or prepaid debit card. Employees being paid through direct deposit, also can enjoy the easy cash access as well, letting them grab quick funds for lunch, weekend plans and other needs without the inconvenience of leaving work.

Keeps Employees On-Site and Saves Time

With bank branches closing at record paces since COVID, some employees may have a hard time finding a nearby location that can fulfill their financial needs. And visiting a local convenience store or grocery store to use an ATM could mean extra time away from work. Checkout lines and traffic can easily cause delays for staff as they are attempting to get back to their jobs during their lunch break.

With an on-site ATM, there is no need to leave the workplace to take care of minor financial tasks. Instead, employees can easily check their balances or withdraw cash on payday - or any day - without having to go out of their way or risk being late coming back from break.

Keeping Employees Safe

Attacks on consumers are on the rise. Whether it is passwords, credit card numbers, debit card PINs or even in-person attacks, criminals are using every avenue they can to gain access to consumer accounts. Providing an on-site ATM adds another layer of protection for employees. The steps taken to keep company facility, equipment and staff safe extend to the ATM in the breakroom. With an ATM on-site at work, employees have peace-of-mind knowing their debit card and bank account information is safe from hackers or skimmers.

Financial access is a big contribution to employee well-being. An ATM in the workplace not only help employees, it also helps employers provide a real workplace benefit by providing easy account and cash access all while keeping employees on-site and improving overall job satisfaction.

Discover how an ATM in the break room can benefit your employees and business.

Millennials Own more Crypto than any Other Generation

Mon, 02 May 2022 21:04:46 GMT

A recent study from Piplsay found that 49% of millennials polled own cryptocurrency compared to 38% of Gen Xers and 13% of GenZ . Millennials are also more likely to adopt the investment as a form of payment, with 53% saying they are “very likely” to purchase products or services with crypto, vs. 40% of GenX polled and just 7% of GenZ.

“Millennials are growing natively with Web 2.0 — that is, mobile — and Web 3.0 (crypto) technology,” says Kurt Kumar of Rocketfuel Blockchain, a crypto payment processing company. “They intuitively understand digital wallets and treasure chests, which are part of many games younger millennials played, such as Fortnite and Minecraft.”

Beresford Research notes that the youngest millennials are 25, while the oldest in the cohort are 40. Kumar also pointed out that some of the younger members of this generation may not have credit cards or bank accounts yet, so they are instantly leveraging crypto wallets to conduct trades and transactions.

While this explanation could also apply to GenZ, it’s possible that more millennials have the maturity and knowledge to research and embrace crypto. GenZ, which ranges in age from 6 to 24, is just getting started dipping their toes into personal finance waters.

The Piplsay research also revealed that 88% of all crypto investing was done by respondents with a college or master’s degree.

The survey tallied the online responses of 5,061 people over the age of 18. Another survey from the Harris Poll and online savings site CouponCabin.com found that 44% of 2,063 Americans polled said they were “somewhat” or “very” familiar with crypto. These numbers are in line with the Piplsay findings, as well as past Harris Poll studies.

“These results are consistent with a Bloomberg/Harris Poll survey from February that saw 43% of Americans respond that they were somewhat or very familiar with cryptocurrencies such as Bitcoin, Ethereum and Dogecoin,” said Andrew Gretchko of CouponCabin. “Even after the massive Coinbase IPO and multiple new highs, the overall awareness for cryptocurrencies amongst the American public has largely been unchanged over the past few months.”New Paragraph

The Musk Effect?

At least some of the millennial interest in crypto may also stem from billionaire Elon Musk’s interest in the topic. “Elon’s meme tweets to his millions of followers resonates with millennials as they are the ones growing up with “meme culture.” Memes have been a main conduit for communicating certain references across millennial peer groups,” Kumar said. He noted that the generation considers themselves “meme-dealers.”

A separate Piplsay survey found that 41% of millennials and 35% of GenX follow Musk’s tweets closely, compared to 24% of GenZ. Half of millennials polled said they made or considered making investments based on the Tesla Technoking’s tweets.

Doge More Famous Than Ethereum

Musk’s social media presence has raised awareness about crypto in general, and Dogecoin, the cryptocurrency that began as a joke, specifically. The Harris Poll survey found that 89% of Americans have heard of cryptocurrency, with 71% knowing about Bitcoin. The survey found 29% of Americans have heard of Doge, while only 21% know about Ethereum, which is second only to Bitcoin in market cap.

“The abnormally high awareness for Dogecoin (29%) leads me to believe that the cultural relevance the cryptocurrency has been provided by Elon Musk has certainly given it an edge,” Gretchko said. “While Ethereum seems to have more long-term utility, the latter has been memefied and gained Musk’s support, boosting its gains and providing additional visibility.”

Crypto as Rewards

Not everyone loves crypto, though, based on the Harris Poll. Gretchko pointed out that 26% of those polled believe they’re used for illegal transactions on the internet, 23% think they’re a get rich quick scheme, and 19% called them “nefarious” or “shady.”

Somewhat surprisingly, 44% of those surveyed in the Harris Poll said they would be interested in receiving cryptocurrency as an alternative to traditional cash back reward programs from retailers/cash back websites. “It’s one thing to be familiar with cryptocurrencies through friends, family, the news or the Internet, but it’s another to turn down cold, hard cash in exchange for cryptocurrency as part of a loyalty program,” Gretchko said. “I’d speculate that many view loyalty programs as ‘free’ money, and therefore are more willing to take a risk with money they haven’t already budgeted as opposed to taking part of their salary and investing in, say, Bitcoin.”

Is Crypto Still a Good Investment?

s Bitcoin remained under $40,000 per U.S. dollar for the seventh day straight and other crypto similarly dipped, it may look like a good time to buy. “Crypto is here to stay,” Kumar said. “Having some portion in Bitcoin is a hedge against [inflation] and sound financial planning. Bitcoin, over the last 10 years, has only gone up.”

Kumar encourages retail investors to look at Bitcoin and Ethereum, avoiding alt-coins unless they have a good understanding of them. “Steer clear of Doge unless the itch is too strong and you want to embrace the speculative nature,” Kumar said. “Then, just invest a few hundred dollars and move on. If it goes up in the next few months or years, you’re ahead, and if it does not, you’re not facing a big loss.”

Tony Molina, CPA and Senior Product Specialist at Wealthfront, advises similar caution with any crypto investments. “Before you decide to buy the dip, make sure you don’t overexpose yourself just because Bitcoin is on sale,” he said. “Remember the golden rule with volatile assets like Bitcoin is to only invest an amount you would be willing to lose.”

Molina said a smarter investment strategy would include ETFs, with an eye on long-term wealth building. “The best practice is to keep the vast majority of your portfolio in a globally diversified portfolio of ETFs, which is a strategy proven to maximize reward while minimizing risk. Then you can use the remainder of your portfolio on things you want to try .”

Want to Attract Millennials? Get a Bitcoin ATM .

With a hassle-free Bitcoin ATM in your business you’ll attract new customers and increase foot traffic by offering a hot, new service. You’ll also earn new income too! Give us a call (314) 961-9000 and find out how hosting a Bitcoin ATM can benefit your bottom line.

Originally published by Yahoo News

Top Benefits to Having an ATM in Your Business

Fri, 01 Apr 2022 21:16:04 GMT

Credit card companies have been waging a war on cash, and so far they have failed. According to the Brinks CEO Doug Pertz , Americans still want to pay with cash, and what they really need is access.

Would your business benefit from having an ATM on site? Odd are the answer is yes! Here are the top 5 reasons you may want to have an ATM installed in your business:

Encourage New Customers

With more than 4,000 financial institutions closing branches in 2021 and experts predicting closures won’t slow down in 2022, Americans need independent ATMs more than ever. While it’s nice for a retailer to draw customers into their store to use the ATM and receive income from it, the real benefit is increased sales. Once inside your store, ATM users often see something they want, or remember something they were intending to pick up. Since they are already inside, they frequently make a purchase. Statistics provided by the Javelin 2020 Health of Cash study show that 65% of ATM users spend as much as 40% of their cash in the store where the ATM is located. Not only have you provided a vital service – easy cash access, but you’ve likely gained a new customer who knows where they can reliably pick up cash.

Consumers Want Payment Options

A vast majority of Americans (82%) feel it’s important for a store to accept cash payments. Given that a quarter of Americans are unbanked or underbanked, and many Gen Z consumers are opting for cash as a better way to manage their budget, businesses that provide an ATM are more likely to see a boost in traffic. No matter what type of business you own, chances are you attract a wide variety of customers from different backgrounds. Many prefer to use cash, and for many, it’s their only option. For your store to cater to all of your community, having card and cash options is a must, so why not go a step further and provide an ATM too?

Keep Customer in Your Business

When a cash-paying customer finds themselves with an empty wallet, what are their options? Without an ATM on hand, they will be forced to abandon the purchase and seek cash elsewhere. But why take the risk of directing a customer to another location? Chances are they might find what they need along the way or rethink their purchase due to lack of convenience. Having an ATM in on-site protects you from losing sales.

Additional Income Stream

In addition to providing convenience, an ATM brings in extra income. Having an ATM installed in your business not only increases your store sales, but you get a nice bonus to your income every time a user swipes their card at the machine.

Reduce Expenses

Most credit card companies charge a merchant fee between 1.5%-3.5%. By encouraging your customers to take advantage of the ATM and pay in cash, you not only earn money when they use the machine but you save by not having to dish out money towards card processing fees.

No matter the type of business you have, chances are you’ll benefit in the form of increased sales and extra revenue, customer loyalty and savings on card processing fees with an ATM on-site. Contact us to find out if you qualify for a FREE, turn-key ATM.

The Disadvantages of a Cashless Economy

Tue, 01 Mar 2022 01:36:00 GMT

There has been a lot of talk in the news over the last decade or so about the coming cashless world economy. There is no doubt for most consumers tapping, swiping or inserting a card is more convenient than paying cash. But what are the pros and cons of the US going cashless?

For starters, not accepting cash discriminates against the 63 million unbanked and underbanked US residents who have little or no access to electronic payments. Which might be a big reason why big box retailers like Amazon Go recently reversed their decision to go cashless at their “cashierless” retail stores.

So, whether you own a corner gas station, a quickie-mart, a hair salon, or the local taco bar, by not accepting cash you may be excluding an astounding number of customers who rely on cash.

Let's explore a little more…

Why the Card Networks & Government LOVE Electronic Payments

For the payment card networks (Visa, MasterCard, Discover, etc.) profit is the major motivator when it comes to promoting a cashless society. Each time a consumer pays by card or uses their phone to make a purchase, the payment giant processing that payment earns a profit in the form of a three to four percent fee charged to merchants.

But the networks aren’t the only entities that benefits as more people stop carrying cash. The US Treasury benefits by being able to collect additional taxes. Under the 2021 American Rescue Plan , the $1.9 trillion COVID stimulus package, a new rule requires cash apps like Venmo, Zelle and PayPal to monitor and track users that receive over $600 in a calendar year, and in turn pay taxes on that money. While the legislators “promised” to not affect personal transactions like gifts or money sent by a friend, gig workers, freelancers and people with side jobs, like the guy who cuts your lawn, will be sent an IRS 1099-K form.

Pros & Cons of Not Accepting Cash

While going cashless may be convenient for merchants, there are some drawbacks. On the plus side cashless transactions are fast, eliminate time counting cash and going to the bank, and there is no risk of shrinkage due to human error.

But do the negatives outweigh the positive benefits?

Americans are Not Ready to Give Up Cash

The bottom line is going cashless may sound like a solid business plan in theory, the truth is US consumers are not ready to give up cash and retailers who choose to go cashless risk turning away a large chunk of their potential customer base. In fact, studies show 83% of consumers have used cash in the last 30 days and businesses with an ATM on-site get more foot traffic simply because they offer the convenience of easy access to cash.

Here are just a few of the scenarios where consumers prefer cash:

How Adding an ATM Can Benefit Your Business?

Overwhelmingly, Americans want to live in a society that , offers a cash payment option . And adding an ATM to your business provides a convenient alternative for the 56% of consumers who use an ATM each month to withdraw cash.

There are other benefits as well:

If you are looking for a way to increase traffic, lower costs and provide customers with the services they want… find out if your business qualifies for a free ATM.

Why US Consumers Won’t Give Up Cash

Thu, 23 Dec 2021 19:36:00 GMT

Despite predictions that the pandemic would kill cash, the opposite happened. U.S. consumers are carrying more cash today than they did prior to the pandemic. According to the Federal Reserve Diary of Payment Choice , Americans carry $74 in their wallets and purses on average – up $20 from 2019.

And Americans are not ready to say goodbye to cash anytime soon. When asked as part of an ING survey , 65% of Americans disagreed with the statement, “I would prefer if cash did not exist,” showing that a large majority still approve of a cash-based economy.

The truth is there are some instances where cash just cannot be replaced by electronic payments. When it comes to gift giving, tipping, paying the babysitter or the teen who cuts the grass, donating spare change to a charity or helping someone in need – cash is king.

Benefits of Paying in Cash

Natural Disasters & Emergencies ─ When a hurricane, tornado or winter storm hits, electricity and internet may go down rendering all electronic payment methods unusable. In these instances, cash becomes the only viable method of payment. According to CashMatters.org , “during a crises, the demand for cash sharply rises. We trust real currency and it’s in almost every country’s top recommended emergency items.”

Reap the Rewards of Having an ATM in Your Business

Don’t have an ATM in your business? Find out if you qualify for a hassle-free, no cost ATM!

Make the Most of your ATM: Use these Tips to Increase Cash Withdrawals

Wed, 17 Nov 2021 22:32:00 GMT

Business owners with ATMs in their store earn money from every cash withdrawal. While cash took a beating with the spreading of false information that handling bank notes could spread COVID-19 and the shortage of coins left many businesses unable to accept cash, cash payments have rebounded remarkable well. Today, there is more cash is circulation that ever before and U.S. consumers on average carry $20 more in their wallets than they did prior to the pandemic.

If one of your goals for 2022 is to increase ATM transactions and impact your revenue, there are some relatively straightforward things you can do to get the results you’re looking for.

Location, Location, Location

Where you choose to place your ATM is one of the most important considerations a business owner can make, as it can make or break your terminal’s success. There are a few things you should consider to achieve the best results:

Marketing Your ATM to Increase Awareness

Is the ATM your business’ best kept secret? Increase transactions by making the most of your marketing and let customers know you have an ATM on-site.

Optimize Your ATM for Success

While you may not cash load or service the ATM yourself, ensuring it doesn’t run out of cash and receives regular maintenance can help increase transactions. Studies show consumers are creatures of habit and use the same ATM on a regular basis. If the ATM is reliable, it can quickly become the ‘go to’ machine in the area and help you attract new and repeat customers.

If you do load cash and perform first and second line maintenance, it is imperative to keep it full of cash and working at peak performance. Using the tools, such text and email alerts for low cash volume and errors like bill jams, provided by your ATM vendor can guarantee the ATM runs smoothly.

Increasing marketing efforts and making a few adjustments to make certain the ATM is visible to all customers, can help you achieve your goals to boost transactions, increase revenue and attract new customers to your business.

Don’t have an ATM in your business or are tired of doing maintenance on your current ATM? Find out if you qualify for a hassle-free, no cost ATM!

Resolve to Save Money in 2022 Using a Cash-Based Budget

Sat, 06 Nov 2021 18:03:00 GMT

Each year, millions of Americans resolve to pay off debt as part of their New Year’s resolution. Consumer debt was at $14-trillion as of the second quarter of 2019 . Shockingly, this was the 20th quarter to report an increase. If you are one of the millions drowning in debt, there is hope.

A cash-based budget will help you get out of debt, save for an emergency and cut back on careless spending. There is evidence suggesting the psychology behind using cash for everyday items will help you achieve your goals.

It is easy, but like most resolutions, it will require your diligence and commitment.

Creating a Budget

The first thing you must do is create a budget. This can be painful, but it is crucial to see where you’re spending money and how much you need to live on. So, buckle in, grab all your bills, bank statements, credit card statements and pay stubs.

The key to success, is to budget for everyday purchases like groceries and household items and pay for them with cash. With credit or debit cards its tempting to make impulse buys but when you only have cash, not spending more money than what you have in your wallet cuts back on buying unnecessary items.

Cash Access via the ATM

Commit to this uncomplicated system in 2022 and you can have the power to take back the money you work so hard for. A cash-based budget will help you get out of debt, save for an emergency and cut back careless spending.

Do your part to help your customer keep their resolution. Find out if you qualify for a FREE ATM!

Why Servers Returning to Work Will Count on Cash More Than Ever

Sat, 18 Sep 2021 17:16:00 GMT

Unemployment benefits ended for an estimated eight million people on Sept 6, 2021. Although some would argue that it is harsh for displaced workers, it’s a positive note for the service industry. With over 1.5 million service jobs waiting to be filled, this cut in government funding may be the push needed for those claiming unemployment to get back to work.

On the other side of the coin, according to Restaurant Dive , workers are refusing to return due to low pay, no healthcare or retirement plans, forcing restaurants to pay more attention to the needs of their workers. In return, we are witnessing an evolution of the service industry. They are offering never before seen competitive wages, 401K matching benefits and better healthcare options. According to NPR.org , some larger chains are even offering childcare.

Bringing Cash to The Plate

Beyond the obstacle of business trying to keep you safe, find staff and keep up with the everyday changes of the WHO and CDC COVID regulations, customers need to step up and make sure they are doing their part to treat wait staff right, too.

Therefore, if you’re into that restaurant and pub life, remember we are all enduring the pandemic the best way we can. Returning to a “normal” routine takes teamwork and those in the service industry understand this all too well.

So, what does cash have to do with it? Some would say it’s so servers can keep more “under the table” money; however, that is farthest from the truth. Cash tips have many benefits that help the server, the business and everyone making sure that you get the best service possible when dining out.

3 Reasons Servers Prefer Cash Tips

How Restaurant Owners Can Do Their Part to Keep Wait Staff Happy

It’s a fact that younger generations, which make up the bulk of the service industry, prefer cash. Some diners will even go out of their way to withdraw cash from a nearby ATM to have it on hand for tipping – even if they plan to pay for their tab with another payment method.

Installing an ATM in your business has many benefits such as providing a new revenue stream, but for the service industry right now ─ the convenience of providing customers with easy access to cash is the number one benefit.

The wait staff will appreciate being able to point diners to the ATM for cash tips and patrons will not have to leave the business to withdraw cash.

Do your part to keep servers happy. Find out if you qualify for a FREE ATM!

New research shows Bitcoin ATMs are the most popular way to buy crypto.

Tue, 07 Sep 2021 15:24:00 GMT

Baby Boomers, Millennials, the Unbanked and Underbanked are the Biggest Purchasers of Bitcoin

Cash is king when it comes to purchasing Bitcoin, as recent data states that there has been a spike in crypto ATM installations during 2021 , showing a 71.3% increase from Jan. 1, 2021. Specifically, there are over 24,000 crypto ATMs located across the globe. Data further suggests that crypto ATMs are being installed at a rate of about 52.3 machines per day.

While growth is clearly underway for the cryptocurrency sector, the reason behind the surge in crypto ATMs may be due to a demand for using cash to buy Bitcoin. Alona Lubovnaya, director of product operations for Bitcoin Depot, a Bitcoin ATM operator , told Cointelegraph that more people from all walks of life are becoming interested in crypto, particularly the underbanked community. “We’ve entered a new era where traditional bank accounts can be replaced with digital wallets, and because of this, more people are choosing to buy crypto with cash.”

Cash is Easy and Familiar for the Mainstream

While there are many reasons as to why certain individuals would want to buy cryptocurrency from an ATM versus an exchange, most of the common use cases seem to be focused on easy and quick access to crypto.

For instance, one piece of research claims that over 50 million Americans are likely to buy cryptocurrency in the next year. Findings also indicate that a lack of understanding is the biggest barrier for new investors. Specifically, 20% of those surveyed said that they still don’t understand how to buy cryptocurrency.

Derek Muhney, director of marketing and strategy at Coinsource. a provider of Bitcoin ATMs, told Cointelegraph that many people looking to get started with crypto value the haptic element of a physical machine, such as an ATM. According to Muhney, Bitcoin ATMs are the best way to buy Bitcoin for an increasing target group of unbanked and underbanked. While this may be obvious, Muhney further pointed out that this has become the case with baby boomers and millennials, noting that these users make up the lion's share of Bitcoin ATM transaction volumes to date.

Echoing Muhney, Ben Weiss, CEO of CoinFlip, a Chicago-based Bitcoin ATM operator, told Cointelegraph that Bitcoin ATMs function primarily to make crypto digestible and attainable to new users who may not understand the intricacies of cryptocurrency or blockchain technology. To demonstrate this point, CoinFlip conducted a Twitter poll to find out how many people on Crypto Twitter have used a Bitcoin ATM. CoinFlip’s survey revealed that 72.2% of individuals never used a Bitcoin ATM, while only 27.8% noted they have.

Weiss explained that he wasn’t surprised by these results, noting that Crypto Twitter is composed of people who are passionate about cryptocurrency and have a relatively deep understanding of the technology. As such, Weiss commented that mainstream users are the primary customers of Bitcoin ATMs:

Alex Mashinsky, CEO and co-founder of Celsius, a centralized cryptocurrency lending platform, further elaborated on this, noting that there are many groups of customers in the crypto space. For example, Mashinsky explained that hodlers will never sell their crypto, while speculators aim to time the market. Yet, Mashinsky noted that “tourist” users will be the ones to likely leverage a Bitcoin ATM. Mashinsky added:

Bitcoin ATMs Growth

Considering the fact that over 6% of United States households, or a total of 14.1 million American adults, are currently unbanked, Bitcoin ATMs will undoubtedly multiply moving forward. The estimate, further supported by Muhney, suggests that “more than 100,000 Bitcoin ATMs will be installed by 2025 and that the industry will grow to beyond $1.7 billion." Read More

Don't have a Bitcoin ATM in your store, yet?

Originally published by , Cointelegraph.com | July 31, 2021

Helping Businesses Increase Profits with Cash Discount Programs

Wed, 01 Sep 2021 21:53:00 GMT

There is no doubt the pandemic crippled sales and brought hardship to many businesses. Unfortunately, many had to close their doors for good, while others had to impose additional surcharges to stay afloat.

While credit and debit cards are extremely convenient for businesses and customers alike, the convenience comes at a cost to the business.

To help, businesses needing a way to increase profit without alienating customers implementing a cash discount program to cash-paying customers is a great way to increase profits. Giving a discount may sound like faulty logic, but it’s completely possible with cash discount. And honestly, who doesn’t love a discount?

What is a Cash Discount Program?

Cash discount is exactly what it sounds like. It’s offering a discount to customers who pay with cash or check instead of paying by card. With this method, businesses can avoid most of their card processing fees by incentivizing their customers to pay by cash.

Cash discounting is a win-win for both the merchant and the customer, as long as the customer has cash on hand. If the customer chooses to pay by card, then they will not receive the discount. This ultimately affords businesses the ability to be more flexible in pricing their products and services, while maintaining a competitive advantage.

Can Any Business Offer Cash Discounting?

The short answer is, yes! Cash discount programs are legal in all 50 states, unlike surcharging which varies from state to state. However, there are a few guidelines regulated by the card industry that owners must adhere to in order to implement a compliant cash discount program.

Pros & Cons of Cash Discounting

There are both pros and cons for a business to move to a cash discount program.  Obviously, the biggest positive factor is eliminating almost all of the card processing fees, which provides an immediate boost to the bottom line. Other positive factors include the flexibility when pricing products and services.

Negative factors include potentially rubbing some customers the wrong way, those that may not be accustomed to carrying cash. Additionally, some businesses may not be comfortable with their employees handling a larger volume of cash. This should be taken into consideration when deciding if cash discounting is right for each business.

Are Cash Discount Programs the Wave of the Future?

Although it’s not for everyone, the idea is worth considering. For businesses offering customers a cash discount, even a minimal one, it can be advantageous for both the owner and customers. Businesses looking to build a strong customer base, a cash discounting program can provide a little extra incentive for customers to pay with cash, and even stand out from the competition.

If this sounds good to you, it might be worth the time to consider a switch to offering cash discounts to customers.

Originally published by Digital Transactions | Sept. 1, 2021

Frequently Asked Questions Regarding Bitcoin ATMs!

Mon, 16 Aug 2021 14:54:00 GMT

August 14 | Originally published by Ripple News

Bitcoin has created a condition of boom and bust in the industry since its release at the very foremost place. Bitcoin is a digital currency, and it is quite obvious every progression objected with the complexity of Bitcoin is correspondingly virtual.

Bitcoins are not stored in a physical or land-based safe vault, as these units are stored in a bitcoin wallet. You can check out websites like the official trading app to get more profitable results in the bitcoin expedition. The core notion of a bitcoin wallet is just similar to a bank account storing your virtual assets. Similar to traditional bank accounts, a bitcoin wallet is correspondingly equipped with diversified sorts.

According to proficient analysts and researchers, there is a war going on between bitcoin and the fiat currency, and ample renowned market players support bitcoin in contrast to fiat currencies. Conferring the notion of land-based banks, the Bitcoin complex has correspondingly released bitcoin ATMs, and yes, you read it right.

The subject Bitcoin wallet and ATMs have acquired an exceeding extent of the limelight in the marketplace. Below mentioned is everything you should know about Bitcoin ATMs, so what are you waiting for? Let’s have a look.

What Are Does Bitcoin Automatic Teller Machine Refer To?

Bitcoin ATMs are just similar to traditional banking automatic teller machines. The utmost promising distinguishing feature of bitcoin and traditional ATMs is diversification and option. While withdrawing funds from the machines, the traditional banking system merely allows you to withdraw the fiat currencies of your explicit region. However, Bitcoin machines are subjected to an exceeding extent of diversification and variety while exchanging bitcoin.

The traditional banking system only allows you to withdraw money from the machine, whereas these virtual ATMs in the bitcoin complex allow you to sell, buy, and exchange bitcoin simultaneously. The fact might amaze you that you are not merely allowed to exchange bitcoin into fiat currencies, but you can even transform bitcoin into any other digitalized coinage in case you are willing to hold or trade any other potential cryptocurrency such as ethereum, lite coin, Binance coin and many more.

These Bitcoin ATMs are correspondingly linked with a reliable and liquefied cryptocurrency exchange that is subjected. Suppose you want to buy a bitcoin unit utilizing the Bitcoin automatic teller machine; the machine or software will contact the trustable bitcoin exchange and will assist you in buying a bitcoin without any sort of complications. Traditional banking machines for withdrawing funds are interconnected with the bank account of users, whereas the Bitcoin ATMs are subjected to a trustable exchange platform.

Despite the virtuality aspects of Bitcoin, a land-based bitcoin ATMs was established in the year 2013 in Canada. However, due to few unrevealed reasons, Bitcoin tam was halted. The portal of these Bitcoin ATMs is exceedingly secure and safe in contrast to the traditional banking system.

What is the mechanism of these ATMs?

The mechanism of Bitcoin ATMs is diversified in contrast to the traditional banking system as the entire progression of these ATMs is digital. There are merely two basic steps that can assist you in blazing the trail of buying or selling bitcoin utilizing a Bitcoin ATM merely. Let’s have a look.

Know Your Customer - Know Your Customer progression is the utmost mandatory trail of Bitcoin ATMs as it sustains the existence of merely validated participants. The land-based machines and web-based both are subjected to similar features at the very same time.

You are just necessitated to insert basic information regarding the user such as name, address, and mobile. The two-step verification of Bitcoin ATMs will send you a one-time password to your mobile number, and once you verified in the bitcoin ATMs, you can easily make any sort of transaction, either selling or buying bitcoin or even trading Bitcoin into fiat currencies.

Sell or Buy Bitcoin - subsequent to the validation route of your actual identity, and you are allowed to sell or buy Bitcoin. The progression of selling and buying bitcoin is a bit distinguished from each other, and which is quite palpable; in order to buy Bitcoin, you need to accumulate the desired cash, the machine will render you a QR code or a wallet address which is scanned or inserted by the user in order to buy Bitcoin.

These are some of the frequently asked questions subjected to Bitcoin ATMs.

Don't miss this opportunity to create a new revenue stream and attract new customers. Get your Bitcoin ATM today!

Why do some restaurants and bars still accept only cash?

Tue, 10 Aug 2021 20:35:00 GMT

Sixteen months into the COVID-19 pandemic, another question might be which restaurants and bars no longer accept cash at all, with cash transactions recently halted altogether in some establishments, coinciding with the rise of hand sanitizer.

Yet despite a decades-long trend - from cash to credit and debit cards to digital wallet services, such as Apple Pay, Android Pay, and Google Wallet - cash is still king at some local haunts. There are several reasons:

Advantages to Using Cash for Consumers

From the consumer’s standpoint, there are also advantages to using cash, as noted in a previous column . It’s quick when paying a tab at a busy bar or during a rushed lunchtime. You’re back at the office while your poor server is still deciphering a tableful of separate checks.

You’re hassle-free at the cash-only places and head of the line when the charge machine goes down. Oh, and ask any server if they’d prefer their tip electronically or in cash money. I’ve said before that cash is liquid, secure, immediate, there are no fees (or strings) attached, and, best of all, it’s private.

Today, however, there are also downsides for restaurants and bars to accepting only cash such as theft deterrence and reconciliation time increases. Read more >

Among the remaining cash-only bastions in St. Louis (with checks and Venmo also accepted in some cases):

Restaurants:

Bars, Taverns and Breweries:

Put cash to work for your business. Find out if you qualify for a FREE ATM!

Originally published by St. Louis Magazine , Aug. 6, 2021

Why Accepting Cash is Good for Business

Fri, 23 Jul 2021 20:39:00 GMT

With the onset of the pandemic and the coin shortage in 2020, some businesses decided to stop accepting cash and coins. While the misinformation that was put out by World Health Organization that humans could catch COVID-19 by touching cash and coins was eventually corrected, this caused an unnecessary burden on 24.7% of Americans who rely on cash as their primary method of payment.

These estimated 63 million Americans, who are unbanked or underbanked, were left with no choice but to turn to alternative payment methods – many of them predatory in nature – or switch to another store that may not have been as convenient.

While there is no Federal law that makes it illegal for businesses to not accept cash, that may be about to change. The U.S. House of Representatives introduced the bi-partisan Payment Choice Act of 2021 (HR 4395) in July. Co-sponsored by a large, diverse and bipartisan cross-section of Congress, the legislation would make it unlawful for business to not accept cash for in-person transactions. The Federal legislation mirrors laws that have already been introduced or passed by various states seeking to end cash discrimination.

But why is not accepting cash bad for business? And how can you make sure you are doing what is best for your customers and your business?

Are Cashless Businesses Promoting Discrimination?

There is no way around the fact that “No Cash” actions put unnecessary pressure on marginalized communities. According to a Time Magazine’s Next Advisor report, 19% of American households making less than $30,000 a year are underbanked or unbanked, with African-American (16.9%) and Hispanic (14%) families taking on most of that burden. These numbers mirror St. Louis data , where minorities are three times more likely than whites to live in poverty.

As a result, a cashless society will potentially push these demographics to seek alternative payment methods, such as payday lending or paycards. These alternatives tend to be predatory, and according to a , U.S. Postal Service report , underserved households spend an average of 9.5% of their income on interest fees, with some rates as high as 500%.

While it may be easier for businesses to only accept card-based payments, a vast majority of Americans (82%) want businesses to accept cash, according to the Federal Reserve Bank 2020 Diary of Consumer Payment Choice . In addition, most Americans use ATMs to withdraw cash and studies show that as much as 50% of the money withdrawn is spent in the store where the ATM is located.

With all this in mind, why would any business want to divest in almost 20% of the population by not taking cash?

Cities, States are Stepping Up to Protect Cash Users

Right now, St. Louis leaves it up to the business owner to decide which types of payments they accept. However, more and more cities and states are jumping on board to help those that a “cashless society” would hurt most by banning retailers from not accepting cash for the in-person purchase of goods and services – putting the decision in the consumer’s hands.

, Colorado and , Connecticut both made it illegal for business owners to not accept cash in 2021. Currently state laws in , Massachusetts , , New Jersey and , Rhode Island prohibit retailers from not accepting cash. It is also unlawful for retailers to not accept cash in , New York City , , Berkley , , Chicago , , Philadelphia , , Washington D.C. , and , San Francisco . According to the , ATM Industry Association Stateside Monitoring Service , an additional 14 states also introduced bills during the 2020 / 2021 legislative session that would ban cashless stores.

An On-Site ATM Gives Consumers Convenient Access to the Cash they Need

Making sure consumers have convenient access to cash is essential and an ATM is the most popular way consumers access their accounts. In addition, many underbanked shoppers have access to prepaid cards and government-issued cards and need local access to withdraw the cash. Installing an ATM in your business not only gives them easy access, but it also means they will come to you more often and are more likely to spend some of that money in your business.

Installing an ATM doesn’t have to be expensive or a hassle. With our ATM placement program, merchants simply provide 2 square feet of space and a regular 110 electrical outlet. , BFC Enterprises handles everything from purchase of the hardware, installation, maintenance and cash management.

, Contact us today to find out if you qualify for a free ATM.

How Using Cash Helps you Lose Weight… and Save Money too!

Fri, 18 Jun 2021 20:33:00 GMT

The benefits of a cash-only budget can influence better spending habits, healthier budgeting, stronger negotiating and even help lose weight. When using cash, consumers are more aware of how they are spending money, making them think twice about what they are purchasing and where.

How Does Carrying Cash Help with Weight Loss?

According to a 2010 study published in the , Journal of Consumer Research , paying cash helps “curb impulsive urges” when choosing to purchase unhealthy food. In contrast, using credit or debit cards “weakens impulse control,” and swipers are more likely to buy unhealthy items.

Also, when paying in cash, consumers are more emotionally attached to their purchases. Watching money leave their hand makes them more mindful of their buying habits, including making healthier choices. This was the hypothesis behind a recent study in the , Journal of the Association for Consumer Research published by the University of Chicago Press where they share “. . .negative arousal elicited by monetary payment plays a role in consumption. Cash payments increase this negative arousal, which increases attention to decision risks.”

When consumers have banknotes in hand, they see it versus the easy “swipe and pay later” where debts can sneak up. You know, like those extra pounds they could have avoided by carrying cash.

Saving Money by Using Cash

As the studies above show, the positive side effects of using cash are primarily psychological. So, how exactly does carrying cash help you save money? Here are a couple of ways that stand out and help prove that offering easy access to cash via an ATM in a retail business can boost sales and save consumers money.

Better Deals and Negotiations - Some businesses offer discounts for people that use cash. These , Cash Discount Programs allow consumers to save money in the store and provide a flat rate discount for the merchant, making an impact on the retailer’s profit margin.

Having cash on hand also gives consumers a way to negotiate better prices that a card does not. For example, if a Zumba class costs $25, and a customer only has $15 in their pocket; they are more likely to get that class for what they have on hand.

“Cash Diets” - Studies show that using cash can help people make healthier choices, but a “cash diet” is a way to budget money and make healthier spending choices. The idea behind this is to take out cash for the week or month and put it in a labeled envelope. This helps the consumer keep track of their money and encourages them to stay on track with spending.

How Businesses Can “Cash In” on Cash Sales

When you install a retail ATM in your business, this offers your customers easy access to cash. Customers get their “cash diet” recipes, and you earn passive income on each ATM transaction. Even better, studies show that , 40% of those who withdraw money from the ATM will spend about half of it right there – increasing your sales.

No matter what type of business your run – a convenience store, pawnshop, retail business, or even a bar or restaurant, we have an ATM program that can be customized to fit your needs.

,, Contact us to find out if you qualify for a FREE ATM.

Why Cash is Still King and 5 Reasons Your Business Needs an ATM

Tue, 18 May 2021 16:28:00 GMT

Despite false reports early in the pandemic that handling cash could spread COVID and dire warnings that cash’s days were numbered, the opposite happened. According to , CashMatters.org , multiple reports show the pandemic resulted in the largest increase of cash in circulation since the 2008 financial crisis.

What does this mean for your business? It means consumers are holding more cash than ever before and they are prepared to use it on goods and services.

So, why not give them access right where they shop? Here are 5 reasons why adding an ATM is a smart move:

1. Reduce Chargebacks & Processing Fees

By offering customers convenient cash access, you’ll reduce expenses in the form or credit and debit card processing fees. Not to mention saving time having to deal with chargeback issues. Combined with a , cash discount program , having an ATM on-site can help you increase your profit margin by reducing expenses.

2. Increase Sales

Convenient cash access helps to increase in-person sales. According to the , Javelin 2020 Health of Cash Study , 40% of customers who use an ATM in a store will spend half of that cash withdrawal right there.

3. More Foot Traffic

Some people may need an emergency cash infusion but don’t have time to go to their bank or credit union. If you are a go-to location for cash, you’ll benefit from increased foot traffic and profit from increased sales as well.

4. Convenience is Caring

According to the , Retail Customer Experience report, 60% of all transactions under $10 are paid with cash and 40% use cash for transactions between $10 to $25. Having an ATM in your business not only makes it convenient for consumers, but you are also boosting customer satisfaction.

By giving consumers easy access to cash, statistics show you’re also increasing your chances of increasing sales and providing a service that will lead to customer loyalty. Show customers you care by giving them the benefit of easy cash access.

5. Passive Income Stream

Having an ATM on-site provides retailers with an additional opportunity to earn income. While there are a variety of business models available to retailers, in most cases having an ATM on-site is free to the business owner and completely hassle-free. You benefit by earning a percentage of the surcharge-fee income and offering a service your customers will appreciate.

Reap the rewards of having an ATM in your business . Contact us today to find out how you can set your business up for success.

4 Benefits of a Cash Discount Programs for Merchants

Tue, 18 May 2021 01:36:00 GMT

Ever wondered how to balance surcharges and other hidden fees from credit card companies without breaking the law or forwarding those fees to customers that use cards to buy from your business in the form of higher prices?

The answer might just be a Cash Discount Program .

One hundred percent legal, a cash discount program helps reduce or eliminate card processing fees by providing customers who pay in cash with a discount. Shoppers who pay with a card are charged the regular price.

The Law & Surcharges Fees

While the Durbin Amendment of the Dodd-Frank Act made it illegal to impose a transaction fee on debit, credit and pre-paid card users, there is no law that prevents merchants from giving customers a discount when they pay in cash.

How a Cash Discount Program Work?

When you choose a cash discount program, you set your goods and services at a price that covers the fees applied when a customer chooses to use a card - typically anywhere from two to four percent.

Everyone pays the same price no matter what type of card they use, but customers who pay in cash win with a discount on the goods and services they buy. And, as the business owner you win even more because card processing fees ─ that can cut into your profit margin ─ are covered.

Merchant Benefits

The obvious benefit of this program is lowering or possibly eliminating the fees you pay every time someone pays with a card. However, other notable benefits make a cash discount program ideal for merchants of all kinds – bars, restaurants, retail shops, repair services, etc.

1. Profit Margin Consistency

Profit margins are easier to manage when you have more control over fees. When you choose to use a cash discount program, you are choosing to take control of your business. When you set all your prices with that cost added it takes out the unpredictability and unwanted cost that come with credit card fees, which helps to keep your margins consistent. This makes “keeping the books” a lot easier and allows you to grow your business without distraction or hidden charges.

2. Customer Cash Incentive

When you offer a discount of any type, this is an incentive for people to buy from you – especially those searching for deals. Offering a cash discount not only gives patrons an incentive to buy, but it also gives bargain hunters an incentive to return to your business.

3. More Available Cash

When you invite your customers to pay cash, you will have access to more cash for everyday expenses like payroll and paying suppliers. It also enables you to lower processing times because you can pay what you need with cash on the spot.

4. Reduction in Chargebacks

When a customer has a dispute over a transaction, you foot the bill. As with every dispute, you don’t get paid until the investigation is completed. Reducing the amount of card charges helps lower your risk and can help keep the cash flowing.

We understand the importance of saving money and making the process as simple as possible. That’s why we offer a variety of affordable and hassle-free payment solutions for merchants. Our merchant solutions make sure you get the true cost of any transaction and boosting revenue. Our goal is to make your experience easy and offer a plan that works best for your unique business needs.

, Contact us today to find out how much money you can save with a cash discount program.

How Merchants Can Boost Business with a Cash Discount Program

Fri, 30 Apr 2021 19:38:00 GMT

Originally published in Payments Journal

Today there are a multitude of ways to pay – cash, check, credit card, debit card, mobile and online, which is convenient for the younger, tech-savvy generations. However, integrating complex payment technology that requires an overhaul of existing hardware and software can challenge a business owner’s ability to keep their business viable.

One of the most common complaints of small retailers like convenience stores, bars and single location restaurants is the high cost of accepting credit and debit cards. Card processing fees can cut into already thin margins for many business owners.

Demystifying the Cash Discount

Surcharge fees are often confused with cash discounts, creating uncertainty as to the application and legality of cash discount programs. The 2010 Dodd-Frank Law, in the Durbin Amendment , states that businesses are permitted to offer a discount to customers as an incentive for customers to pay by alternative methods. The distinction is best explained through the posted price of an item or service. According to a Visa representative , “merchants can provide a lower price for cash acceptance… However, merchants are not permitted to post a price for cash and then charge a higher price for cards.”

With a cash discount program, merchants can give customers the option to pay a discounted price when they pay with cash. This eliminates the storewide service charge and reduces costs for both the customer and business owner.

Better for Business, Better for Customers

Once the difference is understood, it is hard to dispute the benefits of a cash discount program for both retailers and their customers. Benefits include:

With so many types of payment options, credit card processing can be a challenge for businesses with smaller budgets. Retailers who are looking to reduce fees that cut into their profit margin can take advantage of cash discount programs, while offering customers more affordable pricing.

The Case for Cryptocurrency at Convenience Stores

Thu, 04 Feb 2021 21:34:00 GMT

Convenience stores and gas stations are staples of everyday American life. Approximately 93% of Americans live within 10 minutes of a gas station. And 80% of gas stations are also convenience stores, ranging from 7-Eleven chain stores to local “mom-and pop” stations.

Many of these store locations are prime spots for ATM machines, and therefore are ideal for Bitcoin ATMs (BTMs). These machines are structured similar to traditional cash-based ATMs. They are housed in kiosks with a pin pad and screen and placed in convenient, heavily trafficked locations. The fundamental difference is users can purchase Bitcoin and other cryptocurrencies directly through the machine.

Fast & Secure Bitcoin Access

Cryptocurrencies like Bitcoin are virtual currencies that are essentially computer files stored in a digital wallet. People can buy Bitcoins through multiple methods, and send them to other people, and all these transactions are stored on a public record called the “blockchain.”

Bitcoin is attractive because it is decentralized, not controlled by a country’s banking system, and offers financial access to “underbanked” communities with limited access to traditional banking.

Bitcoin ATMs provide users with a fast, simple and secure way to buy and sell cryptocurrencies. The same firms managing traditional ATM security typically also handle BTMs. Since BTMs only process virtual currency, there are no worries about physical theft of the machine.

A Massive Potential Network

According to industry tracker Coin ATM Radar, there are more than 7,500 BTMs worldwide (as of April 2020), representing a year-over-year increase of 70%. That’s impressive growth, but it’s still early stage considering the more than 150,000 convenience store locations in the U.S. alone, along with approximately 40,000 grocery stores. The sheer number of locations and the attractive benefits of BTMs make the machines a high-value play for c-store and gas station owners.

Revenue Generation & Other Benefits

Despite the impressive growth in BTMs throughout the U.S., there’s still massive opportunity for expansion. Convenience store and/or gas station owners can set themselves apart from other area locations by installing BTMs.

Bitcoin ATMs are readily available for convenience store and gas station owners. They take up a minimal footprint inside a store and offer the owner solid monthly returns. The rental fees for Bitcoin ATMs are often tied to the monthly transaction amounts going through the machine, with many owners seeing a significant amount coming back from transactions.

The addition of a Bitcoin ATM also attracts paying customers. After the Bitcoin ATM user finishes their transaction, they still need gas in their cars, Gatorade after their workouts, or a bag of chips.

Additional benefits include:

BFC Enterprises is now offering Bitcoin ATMs to a variety of locations including gas stations, convenience stores, bars, restaurants, pawn and smoke shops and more. Contact us to find out how you can get a Bitcoin ATM for your business!

Original article courtesy of Convenience Store News , Sep 9, 2020

Number of Bitcoin ATMs Up 85% This Year as Coronavirus Drives Adoption

Wed, 06 Jan 2021 00:43:00 GMT

Published Nov 11, 2020 | , Coindesk

The number of bitcoin automated teller machines (ATMs) across the globe has surged this year amid the coronavirus-induced shift toward contactless payments.

Bitcoin (BTC, +3.63%) ATM installations have increased by 85% to 11,798, outpacing the previous year’s near 50% rise by a significant margin, according to data source Coin ATM Radar .

The spike demonstrates the rising popularity of bitcoin as a payment mode. The fear of getting a coronavirus infection has accelerated the growth in the broader contactless payment market this year, according to Global Trade Magazine.

The U.S. added over 800 ATMs in October alone and is leading cryptocurrency adoption, followed by Canada and Germany, as noted by Coin ATM Radar.

With several public companies investing in bitcoin and online payments giant PayPal adding support to the cryptocurrency, mainstream adoption could continue to grow.

What is a Bitcoin ATM & Why Your Business Needs One

KSCHESTAK@BFCENTERPRISES.COM (Kathy Schestak) — Mon, 30 Nov 2020 22:01:00 GMT

A new trend is surging in the U.S. – the placement of Bitcoin ATMs. Much like the ATM industry exploded when surcharging became legal in 1996, Bitcoin ATMs are predicted to boom as alternative or cryptocurrency increases in popularity. Early adopters, business owners who get in on the trend now will be rewarded immensely for jumping in before the market is saturated. And, with less than 11,500 Bitcoin ATMs installed globally , now is the time to add a crypto ATM to your business.

What is a Bitcoin ATM?

A Bitcoin ATM functions similar to the ATMs we are used to seeing everywhere we shop. Except instead of getting cash out of the machine, users buy Bitcoin. Some machines allow users to buy other cryptocurrencies like Ethereum, Litecoin, Ethereum and others in addition to Bitcoin. Some machines allow users to purchase crypto only with cash and others give users the choice of purchasing it using cash or debit card. More advanced models even allow users to trade and perform other functions at the machine.

Why use a Physical Machine for Digital Currency?

Which begs the obvious question - why would cryptocurrency users search out a physical machine for a digital asset? The answer is simple – convenience and security.

The service is instantaneous. There is no waiting for the transaction to validate, no third party is involved and cryptocurrency can be sent worldwide. In addition, Bitcoin ATMs are exceptional secure, which cryptocurrency users find very attractive. Depending on which make and model is installed, the use of biometrics (fingerprints), a mobile validation code and other protocols are standard on Bitcoin ATMs. Additionally, there is zero percent of fraud because no third party is involved. Despite being a new concept, Bitcoin ATMs are very popular and very easy to use. The transaction time is also fast. For these reasons, many consumers prefer to find a machine and avoid online transactions.

Why Business Owners Should Host a Bitcoin ATM

New Revenue Stream - Hosting a Bitcoin ATM allows business owners to create an additional revenue stream without any hassle. Just like a traditional ATM placement, the business owner simply decides where to place the machine, provides internet access and BFC Enterprises does the rest. No maintenance, service, compliance or other responsibility falls on the business. BFC Enterprises makes signing-up and getting started easy. The ongoing recurring income comes to the business owner without any need to be hands-on.

Attracts New Customers - Having a Bitcoin ATM helps business owners attract new customers and increase foot traffic. With only approximately 11,497 Bitcoin ATMs in operation worldwide, the odds that your business is the only host of a crypto ATM nearby means you’ve cornered the market. According to Bitcoinist, Millennials make up the lion’s share of crypto users with 28.33% between 35 and 44.

Advertising & Marketing - But how do crypto users know your business has a Bitcoin ATM? Your location is listed on the many Bitcoin ATM online tools such as Google, which leads to a steady stream of new customers coming into your business. There is no charge for this online advertising and there is nothing the location needs to do to ensure their site is available on the online tools. In addition to online marketing, the location is also provided with a variety of advertising tools such as signage and pump decals for gas stations.

If you are looking for a way to differentiate your business from the competition, to draw crowds, increase exposure for your business and give you an additional revenue stream, be sure to reach out to BFC Enterprises today.

Who will miss the coins when they’re gone?

KSCHESTAK@BFCENTERPRISES.COM (Kathy Schestak) — Sat, 28 Nov 2020 03:17:00 GMT

They gather unloved in jars and under cushions, unearthed only when laundry needs doing. They rattle in coat pockets, music to some ears and a nuisance to others. They sink into fountains and lurk in wells, a fortune in wishes but a nightmare to sort and count.

Coins are everywhere until they’re nowhere, and at the moment they’re hard to find. By upending normal habits, the pandemic has dropped them out of circulation and accelerated a trend toward cards, apps and other cashless payments that could eventually make coins obsolete.

China has plans for a digital currency, and the U.S. Federal Reserve is doing “research and experimentation.” Facebook has a currency in the works, and Bitcoin’s evangelists are still preaching. Millions of Americans are skipping right over coins by paying with their phones - or shopping on them.

“There’s a battle for the future of money going on,” said Alex Tapscott, a co-founder of the Blockchain Research Institute, a Canadian firm.

Governments, banks, credit card companies and online communities are among the factions trying to change how people make payments, he said.

“As for cash,” he added, “an elegy is in order.”

How the Coronavirus Sidelined Coins

A funeral for cash has not yet been scheduled, but the pandemic has made it much easier to imagine a world without coins and already reinvigorated the movement to get rid of pennies. For banks, credit card companies and some Bitcoin advocates, the demise of each unit of cash would be welcome news. For small businesses that rely on coins, it’s a slow-rolling earthquake. For archaeologists and collectors, it’s bittersweet at best and a tragedy at worst.

As the coin shortage reached its worst in June, trade groups for grocers, gas stations and convenience stores pleaded for help from the government, calling the coin shortage an emergency that threatened their ability to serve customers and stay in business. The Federal Reserve started rationing coins, and the U.S. Mint kicked production into high gear, urging people to put spare change back in the economy. Major chains like Walmart and CVS asked customers to pay with cards or use exact change, and Chipotle was accused of keeping the change from customers who paid with cash.

Some laundromat owners had to seek out quarters from car washes and others, or even ask employees to guard change machines so that passersby would not use them like banks, said Brian Wallace, the president of the Coin Laundry Association.

“We just happened to be one of those industries where quarters are still king,” he said. “No one wants to be a bouncer, but it really became a necessity.”

Convenience With a Cost

While small businesses have had to adapt reluctantly to a cashless world, many tech firms, banks and credit card companies have pushed for one, said Jay Zagorsky, a professor at the Questrom School of Business at Boston University.

“The economy is bifurcating, sort of splitting in two parts, and there’s one part that’s taking a beating,” he said.

For many people paying for things digitally is a convenience, but for the growing segment of the population in poverty, “going cashless is quite expensive,” he said. Hidden fees, such as for failing to keep a minimum balance in an account or on a prepaid card, can be debilitating.

“If you can’t keep $10 to $15 on a credit card - that’s a great sum of money for some people,” he said.

And for the companies that take a percentage of transactions, it’s a windfall.

“If you take a 2% cut of every transaction that takes place in the United States, that’s billions of dollars” a year, he added.

Tapscott said that credit cards offer less privacy than cash because they leave “a trail of digital breadcrumbs.” Cash can help criminals stay under the radar of the authorities but also provides anonymity to some vulnerable people, he said, such as a woman who wants to evade an abusive husband or a person in recovery from drug abuse.

Planning (and Improvising) Currency

Cryptocurrency advocates like Catheryne Nicholson, the chief executive of BlockCypher, have proposed Bitcoin as a solution to problems in the existing financial system, such as getting loans to the millions of people who do not have bank accounts.

“Bitcoin is for the public good,” Nicholson said in a 2015 video for Singularity University, an organization that aims to expand technology in society. “It’s a universal currency, so it has the same value no matter where you are - a Bitcoin is a Bitcoin is a Bitcoin.”

But Tapscott said Bitcoin and other cryptocurrencies remain relatively niche products, still far from being a feasible, widespread replacement for cash. And some cryptocurrency advocates fear that digital currencies might be curbed by an 1862 law created during a different coin shortage.

In the 1860s, the problem was hoarding - a side effect of the Civil War - so merchants, corporations and local governments tried printing their own money, called shinplasters. Congress tried to stamp out the practice with an 1862 law outlawing such private currency, but the shinplasters flooded cities from New York to Richmond, Virginia.

“We think of the sovereign or the state as having a monopoly on investing money with value, but American history has shown repeatedly that’s not the case,” said Joshua Greenberg, a historian and the editor of Commonplace, a journal of early American life. “Whenever there’s a downturn or a shortage, maybe you just lived somewhere pretty rural, shinplasters filled that void.”

Arguably, isolated versions of shinplasters have reemerged in recent years, he said. In western Massachusetts, you can exchange federal notes for BerkShares. Northern Michigan has Bay Bucks. In central Florida, Disney Dollars can still get you a soda or fries.

The People Saving Pennies

Coins will always have defenders in curators and collectors like the 26,000 members of the American Numismatic Association. The group’s education director, Rod Gillis, hopes they never stop circulating.

“I would really hate for us to become a cashless society,” he said. “I would hate for us to lose our historical perspective.”

He called coins representations of our history and culture at any given moment. Before the penny featured Lincoln, it showed Lady Liberty in a Native American headdress. President Franklin D. Roosevelt landed on the dime because of his efforts to stop polio through the “March of Dimes” of the 1940s.

“The designs don’t just happen out of happenstance,” he said. “You can learn so much about our culture from just learning about what appears on our coins.”

And coins have survived other inventions - paper bills, stock markets, E-ZPass — outlasting many of the monarchies, republics and empires they were made to hold together. Their value as artifacts is “wonderful,” said Dr. Fleur Kemmers, an archaeologist at Goethe University Frankfurt, Germany. She called ancient coins “historic documents,” passed down by people across centuries and continents as they haggled, hoarded and made their way through daily life. She said that in their design, material makeup and discovered locations, coins can reveal clues about culture, politics, religion, industry, trade and household life.

“They are tangible remains of past regimes, yet also part of the daily lives of ordinary people 2,000 years ago,” she said.

Then as now, they became part of little rituals, symbols and gestures. Fearing bad luck, some don’t pick up a penny unless it’s heads-up. Flipping a coin offers a question up to chance. For centuries, people have tossed coins into wishing wells, or now their urban equivalent, the city fountain.

In the ancient Mediterranean, people sometimes placed a coin in the mouth, on the eyes, or in the ashes of the dead, a fare for the mythological ferryman to take souls to the underworld. Coins meant something to the living even in the context of death: Commerce was rolling on somewhere, and the ferryman had to make a living, too.

But Kemmers said that aside from their symbolism, she was “not that optimistic about the long-term future of coins.” With one exception: “Commemorative coins might be something that will last.”

To read the original article in the St. Louis Business Journal (November 25, 2020), , click here .

ATM Fees in St. Louis Remain Below Average

KSCHESTAK@BFCENTERPRISES.COM (Kathy Schestak) — Tue, 17 Nov 2020 14:44:00 GMT

Getting cash from an ATM costs a little more this year in St. Louis, BankRate.com says, but bank fees are still cheaper here than in most other cities.

BankRate's survey found that out-of-network withdrawals in St. Louis cost an average of $4.39 this year, up from $4.25 last year. That covers two fees: one charged by the ATM owner and one by the customer's bank.

Nationally, the average withdrawal cost fell slightly, to $4.64 from $4.72. St. Louis, which had the nation's lowest fees two years ago , now is tied with Minneapolis for sixth-cheapest among 25 large metropolitan areas.

Chicago has the cheapest ATM withdrawals at $4.11, and Atlanta is most expensive at $5.60.

BankRate advises using in-network ATMs whenever possible, or getting cash back at the supermarket.

The average overdraft fee at a St. Louis area bank fell slightly, to $31.60 from $31.95. St. Louis was third-cheapest in the 25-city comparison of that fee.

See original article published in the St. Louis Post-Dispatch , October 23, 2020

Coronavirus and Cash: There is no reason to be concerned

Thu, 12 Mar 2020 22:34:00 GMT

Rumors are swirling and panic is rising in the U.S. regarding COVID-19, the pandemic whose symptoms resemble the flu. The virus is transmitted through respiratory droplets. Sneezing, coughing and spitting by an infected person can result in the spread of the virus to others.

With sporting events, tradeshows, museums and even Broadway closing to the public, it’s understandable fear would be on the rise.

Unfortunately, the rise in fear around the world has led to loads of false information spreading faster than the actual virus. From the hilarious such as Google’s “beer virus” searches to the outlandish like the SNL skit leading to social media rumors , the variety of false claims about this particular coronavirus seems to have hit every industry.

The ATM industry is no exception. Sensational media reports have many fearing the use of cash.

The ATM Industry Association (ATMIA) released an official statement March 12, 2020 to clear up the vast misconceptions surrounding the use of cash and contracting COVID-19.

As ATMIA CEO Mike Lee pointed out, “Since people don’t usually sneeze or cough into their banknotes, and since we all touch dozens of surfaces every day, it is disingenuous to single out cash as a medium of transmission of the virus. Handling cards, mobile devices and touching keypads in public places, not to mention countless other surfaces, can carry an equal risk. What is important is frequent hand sanitising to kill off any viral droplets given that the virus has a fragile envelope surrounding it which can be readily destroyed through disinfectants.”

Medical professionals agree. The Wall Street Journal recently quoted Emily Martin, an associate professor of epidemiology at the University of Michigan School of Public Health, “I wouldn’t expect coronavirus to travel far and wide on money.”

In fact, studies show that virus pathogens such as the coronavirus transmit better on hard surfaces such as plastic credit or debit cards versus non-smooth cotton/linen surfaces such as those found on U.S. bank notes.

The bottom line? There is no higher risk of contracting COVID-19 by touching cash than walking into an office building and touching the doorknob or any of the thousands of actions most people take daily.

What the experts agree on and recommend is taking proper precautions to clean and disinfect surfaces to reduce the spread of COVID-19. Handwashing is a must for everyone, and not just when handling cash.

For more information on ways to protect your ATM investment, contact BFC Enterprises .

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Consumers want and expect immediate access to their money ‒ no matter where they are, day or night. Yet, behind the scenes, owning and operating one ATM or thousands is a complex endeavor.

Boost Your Bar's Revenue with Dart Games: The Ultimate Guide to Amusement Gaming Success

Are you looking for a way to draw in new customers, keep them coming back, and generate additional revenue for your restaurant or bar? Look no further than the classic game of darts.

Protect Your ATMs from Criminals

Why Instant Win Games Bring Instant Success

Today’s consumers are used to immediate responsiveness. Advanced computer technology and smart phones have eliminated the need to wait for nearly anything. The same has become true of entertainment. Consumers expect immediate enjoyment from their investment.

How Merchants Can Protect their ATM from Criminal Attacks

Boosting Business: The Power of Amusement Games for Retailers, Restaurants & Bars

Benefits of Adding a Prize Hub Ticket Redemption

ATMs Provide a Surprising Benefit for Consumers: Helping Them Save Money

Claw Machines: A Fun and Profitable Addition for Any Retail Space

Why US Consumers Won’t Give Up Cash

3 Great Reasons to Add Coin-Operated Pool Tables to Your Establishment

Making the Call: Own Your ATM or Get Professional Help?

Thinking about adding an ATM to your retail store? It's a great idea, but there's a lot to consider before you decide if you’ll go it alone or if you’ll need a partner by your side. Let's break it down.

How Having an ATM On-Site Can Help Attract More Business

Digital Jukeboxes are Keeping the Music Alive in Bars and Restaurants

The Rising Risks and Costs of Credit Card Transactions for Retailers

Despite the dominance of cash as the payment method of choice for small-dollar purchases, consumers are still enamored of the “convenience” they get with credit and debit cards. Unfortunately, those same payment methods often come at a steep price for retailers.

Why Cash for Emergencies is Critical

3 Reasons Amusement Games Are Good for Retailers in 2024

The heyday of sprawling video arcades packed with rows of cabinets playing 8-bit wonders like Pac-Man and Space Invaders may be long gone. But amusement and redemption games still offer tremendous value for bars, restaurants, family entertainment centers, and other retail locations - even in 2024.

4 Tips to Attract Customers to your Bar or Restaurant

How are Bank Closures an Opportunity for Retailers?

Banks across the United States are rapidly closing branches, leaving many neighborhoods without convenient access to in-person banking. This trend presents a valuable opportunity for retailers to step in and fill the gap, attracting more foot traffic and sales.

5 Reasons Bars and Nightclubs Should Consider Digital Jukeboxes

Here are just five of the many reasons you need a digital jukebox in your location.

Despite the Age of Selfies Photo Booths Maintain Popularity

Despite the advent of digital photography and specialty photo editing and sharing applications, photo booths remain widely popular across age groups, especially for events.

What Does PCI Compliance Mean for Merchants that Own Their ATMs?

Can Playing Darts Improve Your Health?

Darts is one of the oldest games around with roots dating back to medieval England . While the game has survived hundreds of years, is it possible the game is healthy for you? Here are some compelling reasons playing darts on a regular basis may have benefits worth exploring.

Increase ATM Usage in Your Retail Store with These Tips & Tricks

Amusement Game Tournaments Help Create Real Revenue Opportunities

What Does the Visa/Mastercard Rate Hike Mean for Merchants?

Why Instant Win Games Bring Instant Success

Today’s consumers are used to immediate responsiveness. Advanced computer technology and smart phones have eliminated the need to wait for nearly anything. The same has become true of entertainment. Consumers expect immediate enjoyment from their investment.

Why Cash and Coins will Never Go Out of Fashion

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Cash Still Dominates Small Transactions

Cash Use Rises in Times of Trouble

Cash and Coins Will Endure

New Tax Laws Affect Cash Use and ATMs

A recent IRS change to tax procedures has caused quite an uproar for individuals and businesses who regularly use online systems like Venmo, Cash App, Zelle, or PayPal. Why, you ask? Because the U.S. Gig Economy is about to be hit pretty hard with additional taxes and paperwork.

Get Ready for Football Season by Adding Amusements

Taking Advantage of Cash Use in the United States

The Benefits of Reloadable Plastic for Arcades and Game Rooms

Keep Customers Coming Back by Hosting a Golden Tee Tournament in Your Venue

Darts is one of the oldest games around with roots dating back to medieval England . While the game has survived hundreds of years, is it possible the game is healthy for you?

Here are some compelling reasons playing darts on a regular basis may have benefits worth exploring.

It may be a growing trend for businesses to operate their financial matters digitally, but running a cash-only business can be done quite lucratively.