Since the ATM was launched in the late 1960s, the ATM has evolved from a simple, single-function machine designed to give people convenient access to their money, into a complex and expanding industry that not only gives people easy access to cash, but provides business owners and individuals an opportunity to generate revenue. At one point, every ATM had to be affiliated with a particular bank. The development of dial-up communications in the 1990s however allowed ATMs to connect directly to a customer’s bank account, thus paving the way for privately-operated ATMs that had no connection to a bank branch.
Currently, there are about three million ATMs worldwide, and almost 500,000 of those are located throughout the US. Up to two-thirds of those machines are independently-operated—meaning that most ATMs you run across are not connected to a bank but are owned and managed by a private business or individual. Bank ATMs function to provide customers ready access to cash from their bank account. Independently-owned ATMs also give people access to their cash, but charge an ATM-user fee, or surcharge, which helps pay for the operation of the machine. Money generated from each ATM transaction offsets the costs of running the ATM, and the more transactions the machine has, the more cost-effective it is to run the machine.
Running an ATM Business
Running an ATM is a great way to encourage customer spending and increase in-store sales. Most of the money withdrawn from in-store ATMs are spent at the business and an ATM can bring new patrons into a business. Business owners can turn to America’s ATM, a company that provides businesses with financial service kiosks, marketing products, and ATMs, for reliable ATMs. America’s ATM has three different programs businesses can choose from when getting an ATM: the Free ATM Placement Program, the Free ATM Partner Program, and the ATM Processing Program. Business owners that want more assistance in managing their machine should choose either the Free ATM Placement Program, or the Free ATM Partner Program; businesses obtain a free ATM and receive ATM maintenance, programming, and cash processing. Businesses can also opt for the ATM Processing Program in which you purchase and operate your own machine, and America’s ATM handles the processing. Call America’s ATM at 877-475-1104 to get started. Learn more information about America’s ATM and its programs.