If you are a merchant who accepts credit cards, you could be missing an opportunity to save money! If your average credit card ticket is $35 or more, you may benefit in the long run by accepting debit cards in addition to credit cards.

With PIN- based debit transactions (where the customer has to enter a personal identification number to complete the transaction), merchants typically receive funds for the purchase in their accounts the next day…and the higher the average ticket, the more you save on fees.

Debit card transaction fees are the same for each transaction, regardless of the actual amount of the customer’s purchase, whereas with credit card transactions, merchants typically pay a percentage of the total of the purchase, along with a transaction fee, for each credit card transaction that they accept. If you do the math, you can see where accepting more debits (if the average purchase is $35 or more) can save money!

Adding debit cards to your accepted modes of payment is easy.  You can add a PIN pad to your existing terminal or have your terminal encrypted internally.

Another way that you can add to your bottom line as a merchant while driving more business to your door is by offering ATM machine services at your location. Did you know that four out of every five Americans have an ATM card? Studies show that the typical ATM customer spends 20-25% more than a customer who does not use an ATM.  The average ATM withdrawal is $52, and depending upon the type of business, anywhere from 15 to 80% of the cash withdrawn is dispensed back into the business.

With an ATM machine at your business, customers will be able to obtain the cash they need to complete their purchases with you, without leaving your location. Plus, you will experience an increase in customer traffic flow and cash sales. As an added benefit, you as a merchant can set your own ATM surcharge which virtually offsets the merchant fees that you pay on credit card transactions and earns you money daily.

Many types of businesses can benefit from having an ATM on site, including restaurants, liquor stores, variety stores, grocery stores, bowling alleys, movie theatres, nurseries, hair salons, and more!

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