Consumers want and expect immediate access to their money ‒ no matter where they are, day or night. Yet, behind the scenes, owning and operating a fleet of ATMs is a complex endeavor.
Terminals need constant attention, whether it’s replenishing and balancing cash, fixing broken parts, processing transactions 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 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 ATM 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 as a way to generate additional revenue, lower overall costs associated with maintaining an ATM and increase foot traffic at your location.
For more information on BFC’s ATM services, contact us today!