Posts Tagged ‘ATM Network’

Georgia Lottery selects ATM Network for lottery promotion

Friday, July 2nd, 2010

Want to win a real ATM filled with cash?

You can…. if you play the Win For Life game run by the Georgia Lottery.

Nonwinning tickets can be entered in a second-chance drawing. On July 31 a grand-prize drawing will be held. The top prize? A real Tranax 1700W ATM, provided by ATM Network and filled with $52,000 in cash.

The ATM itself is worth a couple of thousand dollars, so it’s really a $54,000 payoff. And if you find a location to install it (with free processing from ATM Network), it could be the start of a business.

The promotion is being advertised with full-size cardboard displays (that’s what the picture’s of) in more than 8,000 stores statewide, with the ATM Network logo right in the center.

Who says ATMs can’t be fun?

Tags: ATM, ATM for sale, ATM machine, ATM machine for sale, ATM machines, ATM Network, Cash machine, Endorsements, Fun
Posted in Company news, Endorsements, Fun | No Comments »

In midst of recession, ATM use surged

Monday, May 3rd, 2010

The ATM business is sometimes described as “recession proof”, and stories like this are one reason why.

U.S. consumers are withdrawing more money from ATMs, likely the result of the economic recession, industry insiders say. In September 2008, when the recession was official, consumers started relying more heavily on cash and debit, and less on credit.

Gary Faulkner, the executive vice president and chief marketing officer of Morphis Cash Forecasting Software of Dallas, says it was around that time that U.S. ATM withdrawals started going up. He said many of his ATM customers started complaining that the Morphis forecasting tool was not meeting targets, and ATMs were often low on cash because of increased withdrawal amounts. Faulkner says ATMs that had been effectively managed by Morphis’ system for years were suddenly running out of cash.

“Starting in September 2008, customers were complaining that the forecasting was not right,” he said. “Nearly universally, our customers saw an increase in transactions and an increase in cash withdrawals per transaction.”

Faulkner says the volume of transactions increased as well. In fact, Faulkner estimates that the overall cash withdrawals from each transaction increased from roughly $65 to $75 a transaction to about $100 a transaction.

We’ve written before about the practice of using cash accounting to manage tight budgets — withdrawing a certain amount of money for holiday shopping or a weekly budget, and when the cash is gone, stop spending. We’ve also noted why a recession can be good for ATM usage.

Now the numbers are in. ATMs really *are* recession proof.

Tags: ATM, ATM machine, ATM machines, ATM Network, ATMs, Cash machine
Posted in ATM benefits, ATM operators, ATM owners, Research | No Comments »

PAI buys WRG’s service business

Friday, February 5th, 2010

Payment Alliance International, an independent distributor/operator of ATMs, has bought WRG Services’ ATM processing operation.

In the ATM industry, there are manufacturers (who make the machines) and Independent Service Operators, who distribute and handle transactions for machines. ATM Network, for instance, is an ISO — we provide the best machine for a particular client, regardless of manufacturer, and then handle the transaction processing for that machine.

It’s a model that works pretty well because at each stage the company’s interest is aligned with the customers. Manufacturers need to produce good machines at good prices in order to make sales to ISOs. And because ISOs make their money on processing (they’re paid a small fee per transaction by the customer’s bank), they sell machines nearly at cost.

Result: If they work with a reputable ISO like ATM Network, ATM owners get great prices on great machines, and processing is free.

WRG is different. They directly service more than 12,000 ATMs, which makes them an ISO. But they also make the WRG line of ATMs.

That left them with a conflict between their service business and their ATM business: the service business wanted to be able to sell any ATM at a low price, while the ATM business wanted to sell as many WRG ATMs as possible, at the highest possible price.

It’s unclear whether the PAI deal involves the ATM manufacturing arm. All the company statements refer only to the processing business, but both the companies and news reports act as if PAI is buying all of WRG.

If the deal involves just the processing business, it would resolve WRG’s conflict while giving them cash to build their ATM business.

But if PAI is taking over WRG entirely, it just transfers the problem to PAI. Would you want to buy your ATM from a processor that has a motive to either steer you to a machine that isn’t quite suited to your needs, or overcharge you for it?

We’ll update as we learn more.

Tags: ATM, ATM machine, ATM machines, ATM Network, ATMs, PAI, WRG
Posted in Industry news | No Comments »

ATM Network honors employee’s eight years of service

Wednesday, May 27th, 2009

Steve Fisher, a member of the ATM Network sales team, recently marked eight years of service to the company.

At a celebration last week, ATM Network founder and owner Phil Rock presented Steve with a cake, a bonus and some time to reflect on the past eight years. Phil and sales manager Chad Woolson told stories about the company’s early days, from its founding in Phil’s basement to its first office in a strip mall in Minnetonka.

Steve has contributed greatly to the growth of ATM Network through his long and dedicated service. But he’s hardly alone. Our 25 employees represent nearly 120 years of combined experience in the ATM industry. Next month we will celebrate three more anniversaries with a combined 35 years of experience.

Such longevity and experience is why ATM Network continues to weather changes that have seen competitors come and go. Our staff of competent and committed professionals support each and every machine and transaction, a level of service that no other provider can touch.

Tags: anniversary, ATM Network, history
Posted in Company news, Employees | No Comments »

Make your older ATM Internet-capable

Thursday, May 21st, 2009

ATM Network's Internet adapter

Along with faster processors and bigger screens, modern ATMs can access our processing network over your high-speed Internet line. Doing so has three advantages:

Faster processing. A high-speed connection can process a transaction is 3 seconds, compared with an average of 22 seconds using dial up.

No phone line needed. Getting rid of your ATM’s dedicated phone line can save you up to $40 a month.

Increased reliability. No more busy signals, dropped calls or worries about noise on the line.

That’s great if you’ve got a newer machine, but what about owners with older equipment?

ATM Network has you covered. We’ve come up with a box to add Internet capability to your ATM. It’s a “plug and play” solution that plugs into your Internet router and your ATM.

Because older ATMs have older circuitry, retrofitted machines won’t see processing time drop to 3 seconds. But it will shave a few seconds off the current time. And it delivers the other two advantages: increased reliability and ditching the dedicated phone line.

This isn’t some cobbled-together, untested pile of circuitry. We’ve had the box installed in multiple locations for more than a year and a half, with great success and reliability.

And you can’t beat the price: $300. Compare that to spending $2,000 or more for a new ATM. The savings from getting rid of the phone line means the box will pay for itself in less than 8 months.

Learn more

To find out more about adding Internet capability to your ATM, call 1-800-929-0228, e-mail info@atmnetwork.net, visit our Products page or fill out our online order form.

Tags: ATM Network, ATM operators, ATMs
Posted in ATM operators, ATM owners, Products and services, Technology | No Comments »

Save your stubs!

Wednesday, May 20th, 2009

The monthly check that ATM operators get are great, aren’t they? But while we’re sure nobody forgets to cash their check, a lot of ATM owners throw out the check stub without a second thought.

Don’t! Those stubs tell you how much you’ve earned from your ATM, and at the end of the year you’ll need them to calculate your yearly income.

They also contain valuable activity information for your ATM machine. Each stub tells you several useful things:

How many transactions your ATM processed that month;
How much money was withdrawn in those transactions;
Which card networks your customers used.

The stub also breaks down transaction activity by day. So you can see, for example, that on May 5th your ATM handled 9 transactions that withdrew a total of $480, while on May 7 there were just 4 transactions for $120.

How is this information valuable? Lots of ways. By tracking customer activity, you can make sure to have enough cash in the ATM on your busiest days. You can gauge how your advertising and marketing affect ATM usage and how ATM usage affects sales. You can see which network is most popular with your customers, which might guide marketing decisions.

So cash the check. But keep the stub.

Tags: ATM Network, ATM operators, Income, Residuals, Taxes
Posted in ATM operators, Finance | No Comments »

7-11 study measures advantages of ATM ownership

Wednesday, December 31st, 2008

7-11 first installed ATM machines in all of their locations nationwide more than 30 years ago because they learned (maybe before anyone else) that customers that use their ATMs to withdraw cash end up spending money inside the store.

Not only did ATM customers spend money inside the store when they use a cash machine, but they actually spend 25 percent more on average than non-ATM customers. For many types of business owners, this adds up to additional revenue of several hundred dollars every month.

Cash machines have become a very popular tool for personal banking. Nearly 80 percent of all banking is done through privately-owned cash machines in places like gas stations, convenience stores, bars and nightclubs.

People are busy these days, and it makes them impatient. They don’t want to stand in line at a bank just to get cash. So most people get cash while doing other things like shopping or running errands.

As a result, many people make decisions on where to shop based on whether or not there’s an ATM machine inside. Indeed, most customers expect businesses like gas stations, convenience stores, and bars to have cash machines.

Further, a convenience like an ATM increases customer loyalty. Once customers know you have an ATM, it’s much easier to get repeat business from them and have them coming into your business weekly or even several times per week.

For the customers that come into your store just to use the ATM machine and do not end up spending money, you still earn the transaction fee on the machine, which is normally between $2.00 and $3.00.

Learn more

To find out more about ATM ownership, leasing or placement, e-mail info@atmnetwork.net, visit our Benefits page or download our Buyer’s Guide.

Tags: ATM Network, ATMs, Cash machine
Posted in ATM benefits, Research | No Comments »

80% of banking transactions occur at private ATMs

Wednesday, November 26th, 2008

People do not go to the bank to get cash the way they used to. Instead, they look for retail locations to get money while running other errands like getting gas or shopping. In fact, over 80 percent of all banking transactions do not take place at banks — they take place through privately owned ATMs.

For merchants that have ATMs in their business, that means increased customer traffic. Because getting cash is one of the things on their “to-do” list, most customers get cash, gas, cigarettes, coffee, etc. all at the same location.

Here’s what some ATM owners had to say about having atms in their businesses:

“Operating a convenience store, we certainly could not live without an atm. People come to use the atm and end up spending more money in our store. Before we had one, we lost many customers to a competitor up the street.”

Ron Coolidge, owner, Super Stop

“We don’t accept credit cards, and since the local bank ATM does not advance funds on credit cards, this has impacted my business and given my customers an additional payment option. I recommend this system to bars or taverns of any size in any town.”

Daniel Bowden, Owner, Doolittles Pub & Eatery

“I think it is essential for anybody who sells liquor and food to have ATMs. It helps people spend money. Some people don’t want to use their check card – they prefer to use debit and get cash out of the machine. Plus, you see a lot of return on additonal sales.”

Cory Hunter, General Manager, Boondocks Bar & Grill

What would it mean to your business if customers came in just to get cash then decided to spend money?

In addition to seeing increased sales, the owner of an ATM also get to keep the transaction fee charged by the machine. If you accept credit cards, you’ll also see a reduction in your credit card fees because more people will withdraw and spend cash instead of making you pay a processing fee by using your credit card terminal.

Learn more

To find out more about ATM ownership, leasing or placement, e-mail info@atmnetwork.net, visit our Benefits page or download our Buyer’s Guide.

Tags: ATM Network, ATM surcharge, ATMs, Cash machine, Credit-card fees
Posted in Research | No Comments »

Cardless ATM transactions?

Wednesday, October 22nd, 2008

Last week Privier Inc., a Charlotte, NC-based startup, announced the launch of an innovative no-card ATM service.

Until now, no-card ATM transactions were only available in parts of Europe and Asia.

Privier says its iTransfer and mPayment will allow bank customers to electronically transfer funds — using mobile banking or online banking — to a recipient who is then able to withdraw the funds without needing a card or bank account.

“We equip ATM screens with an icon, which reads ‘Pickup Cash’. All the recipient needs to do is press this icon, which will automatically activate the ATM for a Privier iTransfer or mPayment transaction,” said Charles Polanco, CEO of Privier Inc.

The system isn’t seamless: the sender needs to tell the recipient the amount of the transfer and a 10-digit withdrawal number, and the recipient’s only option is to withdraw the entire amount: no partial withdrawals allowed. But it’s a start.

Tags: ATM card, ATM Network, ATMs, Debit card, Mobile banking
Posted in Industry news, Technology | No Comments »

ATM Network to raise $30,000 for tsunami relief

Monday, January 10th, 2005

ATM Network, an automatic teller machine (ATM) hardware, software and transaction-processing company, announced a year-long, systemwide sales effort to raise money to help the victims of the Tsunami in Southeast Asia and African countries. The total money raised is expected to reach $30,000.

ATM Network will donate $100 for every ATM sold during the first two months of the year to the American Red Cross and its International Response Fund. ATM Network’s sales team began building its fund for the Tsunami victims quickly following the disaster and will continue raising funds through the remaining 10 months of 2005 with $25 donated per ATM sold.

Our sales team is committed and motivated about this effort to help the victims of one of the worst natural disasters in the past century,” says Phil Rock, CEO and founder of ATM Network based in Minneapolis. “They know that the funds will be raised to help innocent victims and their loved ones in need. Through my travels, I have connected with the people of Indonesia, a country devastated by this disaster. I am sure these people and the many others affected will find great use for our donation and re-build quickly.

ATM Network selected The American Red Cross and its International Response Fund for its direct access to the most people in need. The American Red Cross has quickly established contact with the International Federation of Red Cross and Red Crescent Societies and sister societies located in the nine affected countries to determine how best the organization can be of assistance to those affected by the Tsunami.

ATM Network was founded in Minneapolis, Minnesota in 1996, and since has become one of the most innovative and fastest growing independent ATM companies in North America. The company has partnered with thousands of merchants who have benefited greatly from an ATM Network program.

Tags: ATM Network, Charity, Tsunami
Posted in Community | No Comments »