ATMs are a perfect fit for dual pricing.
It’s true, ATMs have never been a draw for merchant services sales reps. It just never seemed to make financial sense. That’s beginning to change now, especially for reps selling dual pricing.
Here are 3 good reasons why merchant sales reps should add ATM services to their portfolios of products and services.
First, is the psychology of choice. Merchants don’t want to turn away customers. When there’s a cash and card price, customers who don’t like the idea of paying extra to pay by card can be directed to the merchant’s in-store ATM. More often than not the cost of withdrawing money from an ATM will outstrip the additional cost of paying for a purchase with a card. But the option is there, which takes the heat off merchants because let’s face it everyone likes having options.
Second, cash may not be king, but it still plays a role in consumers’ financial lives. And most consumers still get cash at ATMs. If they are going to need cash anyway, why not offer a convenient place to get cash? Why not use you client’s cash-dispensing ATM?
Third, residual income. There is money to be made from offering consumers convenient ATM access: the convenience fees consumers pay for withdrawing cash from ATMs. And all the players earn a share of that revenue – the ATM ISO/processor, the ISO and agent placing the device, and the merchant.
Star Financial is an ATM ISO that works with ISOs and agents that want to expand their merchant relationships, and grow residual streams with ATM services.
I’ve been working with Star and just completed a training video that can get agents on the path to successful ATM placements as a Star reseller. I was really impressed by all the cool things that can be done with ATMs an Star’s focus on helping partners.
Head on over to gowithstar.com to learn more about that training program along as well as Star’s ATM reseller program.