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Understanding the Counter ATM Machine & How it Benefits Your Business

imagesIf your business hasn’t embraced the new technology and is lagging behind in accepting debit and credit cards from your customers, because you can’t justify the costs involved, then you might be interested in what a counter top ATM could do for you and your business.

It is a small device, similar in size to a normal card payment terminal but with a slight difference. It is in fact an ATM, your customers process their card like they would in any cash machine and instead of money coming out of the ATM they are given a ‘Scrip’; this is a piece of paper stating the amount pre-set  by the business for the customers withdrawal.

The business pre-set the limits in values of $10, some companies go for $20 or $30 others choose higher amounts, it depends on the business type. The customer gives you, the business, the ‘Scrip’ for the goods they are purchasing from you and you give any change needed.

What is different, where with normal card technology the business pays for the privilege of every transaction they process, the counter top ATM pays the business a set amount per transaction. This fee is arrange with the company when the system is set up and agreements signed.

What this gives you, the business owner, is a way to allow your customers the flexibility of paying for their goods by debit or credit card whilst the business is making money and not paying out for providing a service.

It means that you have given your customers greater payment options and this can allow for higher sales, but it also gives the customers the chance to receive change, which allows them the option to spend as much as they want from the amount that they have withdrawn, knowing they will receive the change too.

Get a Counter ATM Machine from First American Merchant Today!