Cashless Scrip ATM machines - How Cashless Scrip ATM Machines Can Work For You

What Do You Mean, "Cashless"?

The words "cashless" and "ATM machines" simply don't seem to belong in the same sentence. After all, what service could a cashless ATM possibly offer? Actually, cashless scrip ATM machines are becoming more widely acceptable, and offer one of the most important things to the merchant – the potential for higher earnings. Take a look at the concept, how it works and how you can put it to work for you.

Why a Scrip Machine?

In reality, the concept has nothing to do with not spending or receiving money, but with spending money without using cash or writing a check. Instead, the customer simply swipes a card and the transaction is completed. While it's fairly common already to have credit and debit card terminals set up at checkout stands, one point to keep in mind is that these transactions come with a price. Typically, the merchant pays a set fee for each transaction.

So what if you could eliminate the transaction fee? What would it be worth to you? Before you answer, stop to consider how much that fee is currently costing you. If it's a flat fee of fifty cents per transaction, for example, would it be worth fifty cents if that fee didn't apply? And what if you could then use that transaction fee – in whatever amount you choose – to encourage the shopper to return? This is one of the benefits of cashless scrip ATM machines.

So are these ATM points free?

Actually, the customer pays a convenience fee, just as they would if they used a traditional ATM machine. So where's the advantage? When people are shopping, they're typically not worrying about a dollar (or even two or three) that they'll be charged for using an ATM machine. The same is typically true of the transactions on cashless scrip ATM machines.

In marketing, "soft benefits" is the term given to some benefit of shopping in a particular place. If you, as the merchant, can offer your transaction fee back to the customer, it might be just the slight incentive needed to encourage that customer to make a return visit. Even though the actual cash amount isn't likely to be significant, you're building good will – a feeling that will likely remain with the customer long past the moment when the last bit of wrapping paper is being crammed into the trash.

Other Benefits

Other benefits of cashless scrip ATM machines are evident in the environment. The customer will typically receive two receipts for the transaction, but other paper receipts are eliminated. The result is less need for paper and less paper to throw in the trash – both good ideas for the environment.

Finally, you can point out the ultimate convenience of this type of transaction. Checkouts are faster because your customers aren't standing in line writing checks. Approval is almost instant and there's no need to make change. If you, as a merchant, are able to offer the very cutting edge of technology as a means to convenient shopping, your customers are going to remember you.