What Model Atm Is Right For My Business?
Which ATM is the best model for your business
? 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 purchase items in the store without the need or concern about carrying cash. The convenience store operator must be ready to accept electronic card payments for the products they sell.Convenience store owners must install ATM machines in this economic era in order to remain competitive with grocery store and other large chain stores. Consumers are often caught with insufficient funds 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 calculated as a percentage of the withdrawal are split between the financial institution that set up the ATM and the store owner providing space for the ATM.
Many of today's ATM's are what are known as networked ATM's. They are capable of executing transactions for customers of any financial institution that is a member of the appropriate interbank network. Prior to selecting the ATM company, one essential 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 manufacturers of networked ATM's. This U.S. company is also an international 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 target many international countries and currencies. The international traveler can use one of these ATM's to withdraw an amount specified in their home currency and have it dispensed in the local currency already taking into account the current exchange rate and the fees charged accordingly. If your store is in a location that caters to a large 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 facilities on location at your store used to be a competitive advantage. Today it is just one capability you need to stay in the game. Look closely at Triton, Tranax and Nautilus Kyosung to find the machine and business model that best meets the demographics at your location.
There are many companies in the ATM machine business that are associated with all or some of the companies 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 make a commitment.
Remember that the machine you choose should offer high quality, reliability, and security for your business and your customers' convenience.
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