Which Automated Teller Machine (ATM) is the top model for your organization? Small retail outlets and convenience stores have become major sites for the installation of ATM’s. The prime motivation to install an ATM machine is it allows for consumers to pay for items in the store without the need or concern about carrying cash. The convenience store operator should be ready to accept electronic card payments for the products they sell.
Convenience store owners ought to install ATM machines in this economic climate in order to remain competitive with grocery store and other large chain stores. Consumers are often caught with insufficient cash to cover their purchases. Additionally, as a business owner, there must be a provision for those customers who want to make impulse purchases.
Today, there are many makers of ATM machines for location in a retail store. Transaction fees computed as a percentage of the withdrawal are divided between the financial institution that set up the ATM and the store owner providing space for the ATM.
Frequently ATM’s are networked. They can executing transactions for customers of any financial institution that is a member of the appropriate interbank network. Prior to selecting the ATM company, one fundamental question to ask is which financial institutions are a part of the network.
Triton Corporation is considered one of today’s six major manufacturers of ATM’s worldwide. In 1997, this company was one of the first makers of networked ATM’s. This U.S. company is also an worldwide supplier of machines. They install “white label” machines throughout Canada. These ATM’s cater only to the customers of the bank that owns the machine. Canadian law allows that bank to set their transaction fees because it is a private network the customer is accessing.
The Tranax Corporation would seem to be in direct competition with Triton because they pursue many international countries and currencies. The international traveler can use one of these ATM’s to withdraw an amount specified in their own currency and have it dispensed in the local currency, considering the current exchange rate and the fees charged accordingly. If your store is in a location that caters to a significant number of international customers, a Tranax manufactured ATM might be a good choice for you.
The Korean conglomerate Hyosung is also a manufacturer of multi country networked ATM’s, as are both Triton and Tranax. Their manufacturing is conducted under the Nautilus Hyosung corporate name . Nautilus Kyosung will partner with the Kyosung IT entity in an effort to develop whatever related software is required at your specific installation.
Having ATM conveniences on location at your store used to be a competitive advantage. Today it is one capability you require to stay in the game . Triton, Tranax and Nautilus Kyosung to find the machine and business model that best meets the demographics at your location.
There are several companies in the ATM machine business that are linked with all or some of the manufacturers shown above. If you are unsure of what model or capabilities best suit your business, be sure to do some comparison shopping to learn more before you sign a contract.
Remember that the machine you choose should offer high quality, reliability, and safety measures for your business and your customers’ convenience.