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Features, Advantages, and Benefits of
a Cashless ATM Machine

More than 71% of U.S. households currently use ATM cards
Over 80 million consumers can NOT qualify for a credit card

Reducing Processing Costs: Processing a PIN-secured debit transaction typically is less than half the cost of processing other card payments such as signature debt.

Reduced Checkout Time: Average customer throughput for PIN-secured debit is 44.4 seconds as opposed to 64 seconds for checks and 48.4 for credit and signature debit cards. **

Decreased Fraud: Not only does a PIN help prevent fraud losses, but more than half of all cardholders prefer PIN-based debit to signature debit because of the added security. *

Cash Back: Retailers can offer their customers the added convenience of cash back from an ATM/debit purchase.

Higher Average Ticket: Consumers tend to spend more when using PIN-secured debit; 24% more than cash and 17% more than checks. *

Guaranteed Funds: Payment is guaranteed, and funds are settled quickly.

New and Repeat Customers: Access to an ATM has proven to draw customers into a location. How many times has a customer asked if there is an ATM on premise just to be told they will have to go to another place of business? Will they come back?

Security: Eliminate the hassle of loading cash.

* 2001 STAR Consumer Survey
** Food Marketing Institute Research

Facts:

  • In 2002, cash represented only 16.4% of all personal consumption expenditures in the United States.
  • Research has shown that consumers using ATM/debit cards spend as average 24% more than cash and 17% more than checks.
  • In 2002, there were 165 million debit cards in the United States.
  • Over $600 billion dollars in debit card transactions for 2002.
  • Debit card transactions have surpassed credit card transactions as of June 1, 2002.
  • 80% of teens ages 18 to 20 have a debit / credit card.
  • 60% of Americans between the ages of 25 and 34, and 51% between 35 and 49 use ATM/Cashless ATM an average of 8 times per month.
  • Studies show incremented sales when customers use payment cards for purchases. In the quick-service restaurant (QSR) industry, the average bankcard sales runs 30% to 80% higher than the average cash sale.

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