2010 ATM ADA Standards- Are your ATMs ready?
Posted February 1, 2011
The Department of Justice has passed new requirements that will impact one or all of your ATMs. These changes consist of speech enabled input controls, height and reach requirements as well as space requirements for wheelchair access.
Best Products takes all the pain and guess work out of ADA compliance. Being one of the largest ISO's in the country, our experience can help you ensure your machines are fully compliant.
ADA compliance is mandatory for every ATM no later than March 15th 2012. Later model machines are most likely already compliant, but certain model older units will have to be replaced or updated.
How can Best Products Help?
Portfolio Management and Turnkey Placement Solutions- Best Products can take on one or all of the operations of your ATMs. From transaction processing, cash replenishment, settlement, communication and maintenance, we have a profitable solution that fits your needs.
Merchant Owned-Our size is your strength. Best Products can provide a more profitable processing platform, low cost machines as well as service and repair all under one roof.
Best Products Featured in Bar Business Magazine
Posted March 1, 2011
An ATM in a bar can be like an oasis in the desert. To customers, it’s an expected customer service. But to bar owners, it’s much more. It’s an added revenue stream. Not only does it increase the amount cash your customers have to spend…it lowers your cost of doing business and keeps patrons from finding their cash… in someone else’s bar.
The November/ December Issue of Bar Business Magazine examined the importance of having an ATM in bars. They talked to us, several Manhattan bar owners and other industry observers.
From of the article:
Peter Wilkenshoff, manager of Best Products Sales & Service, Inc. (www.bpsands.com) in Floral Park, New York said it best; “If a customer walks out your door to find an ATM, it’s a 50/50 shot as to whether or not they’re returning. So don’t give them a reason to leave.”
Kyle Radzyminski, co-owner of three Manhattan bars including Billy Hurricane’s, Thunder Jackson’s and Point Break, said that his bars have ATMs because, “You make a couple of bucks, but it’s mainly about keeping people within the confines of the place. It does work.”
Customers are more likely to spend more money if their cash flow never runs out. Instead of ending the night when they spend that last $20, they can opt to stay at the bar and drink more after taking some money out of the ATM.
Additionally, many bars and restaurants have been trending towards the elimination of credit cards as an accepted payment form on-premise. With the economy still slow, some bars prefer not to pay the credit company fees associated with each transaction, and instead force patrons to pay cash. And the risk/ benefit ratio- not paying fees vs. possibly loosing patrons who prefer credit- would seem to be weighted in favor of cash-only transactions if you have an ATM on-premise.
“On average, 60 to 90 percent of the dispensed cash goes back into that location’s register,” suggests Wilkenshoff. He also said that by introducing an ATM to a bar, fewer credit card transactions are made, thereby reducing the processing fees. To many bar owners, the formula is easy; increase revenue, decrease expense, and eliminate the time required to process a card transaction. Win/win.
Wilkenshoff also recommended the Hyosung brand because of its reliability. “Parts- wise, they don’t really break,” he said. His company also sells ATMs to banks, which need reliable products (he points out that Citibank uses Hyosung). “As an ATM company, the biggest thing for us is keeping the machine up and running, and that’s why we use Hyosung.”
If an ATM sounds like a good option for your venue, it’s important to keep the surcharge fee low. The ATM will generate money from this feature, but no bar wants to scare away customers with ridiculous fees. “We always recommend that a bar has a low fee in order to attract potential customers and not deter usage,” Wilkenshoff advised. “The more cash customers have, the better it is for bar owners.”