Competition is tough for small business owners no matter where they are. Urban, suburban, or even rural companies need to have more than one way to get customers the door. Whether a gas station, independent store, restaurant, or franchisee, one of the best ways to ensure a steady stream of customers is to offer the services of an ATM.

Having an automatic teller machine – also called a “cash machine” – gives you an extra item of service as well as an extra stream of income. Whether you buy or rent your machine, you’re in good company, as 52 percent of the ATMs in the United States are owned by independent companies, while the remaining 48 belong to large financial institutions. Here are some of the top benefits of having a Triton ATM of your own.

1. The average ATM 800 transactions per month. Multiply the number of transactions by a portion of the fees you will collect.
2. The average withdrawal is $60, but the average value of an ATM cash withdrawal can be twice as much.
3. ATM users spend 23 percent more than those customers who do not use an ATM.
4. In bars and restaurants customers used in ATM, 75% of funds withdrawn were spent within the business.
5. The average user visits and ATM seven times per month. This is an important statistic, especially in neighborhoods that do not have a local bank.

Choosing an ATM Service

Not all ATM services are the same, and services as well as fees for those services can vary widely. While ATM machines have come down in price, you will still need to have the most up-to-date machine available. This is not so much for the bells and whistles as it is for the elementary security of the machine and your customer's card information.

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Many obsolete machines are being sold without advising the customers of the need to update to the required current standard of 3DES encryption. Once you purchase one of these machines, you have essentially purchased the world’s ugliest paperweight as no reputable processor or servicer will connect you to the network. While 3DES is due to sunset in 2023, users still have half a decade of useful life in a machine that will pay for itself several times over.

To choose the best ATM processing company for your needs, make a list of ATM processing companies, obtain copies of their agreements with a schedule of fees, and start looking at their references. Processing agreements are necessary and the term typically runs from three to five years. Make sure to read these agreements very closely, and if possible set up a spreadsheet to compare them side-by-side. Go with an experienced company that has good references and offers to service, plus live tech support. Also look for exorbitant early termination fees before you sign.

With the right Triton ATM, you could see an increase in your business and an additional cash flow that will make you smile.