Advantages Of Cashless ATM Card Payments On Cannabis-Related Businesses
Now, there’re several cannabis dispensaries all over Colorado. As both entrepreneurs and consumers are now embracing cannabis.
Just being a shop that retails cannabis is not sufficient though. Patients and customers have choices and higher expectations. Several cannabis Dispensaries in Colorado still need to work on improving customer experience. And, this also includes how they can check out easier.
Researches show that customers are looking for cannabis dispensaries that take ATM cards and that are located near them. So, having a cashless ATM can immediately part you from the competition. Let’s find out some more benefits in the passages below.
How having a cashless ATM in your cannabis dispensary can help?
Having a cashless ATM in your cannabis-related business can help your customers in several ways. But, there is no logic to think that offering a good customer experience will make everything expensive. Actually, seamless payments which can be completed smartly will help in making your business running smoothly. So, not only your customers are getting benefitted but it also will advantage you.
More significantly, it’ll assist you in making more money instantly as consumers are not limited by the hard cash they’ve in their pocket anymore. So, they can spend exactly the amount of money they want to spend. All things considered, it’ll be a better experience for them and consumers are more probable to return. And for you, the seller, having all these expediencies for the consumer will make it easy to run the business.
Cashless ATMs can offer a more secure and safe business model. That’s because there are no requirements to keep big amounts of hard cash readily available at your business. Moreover, Cashless ATMs occupy little space (several just sit on the counter). And, will not need regular maintenance to restock it with cash.
Merchants will be able to avoid the high fees and rates that may accumulate with conventional credit card processing merchant accounts. Today, any business will be able to use Cashless ATMs with “face-to-face” consumers where card-present debit transactions will occur. The consumer has to be there to swipe their card and enter their PIN no.
Card present transactions decrease (but don’t completely eradicate) the risk of chargebacks and fraud. Stolen or Lost cards that are not yet reported will still be used fraudulently. Charging a fee for convenience to the buyer offloads processing fees from a merchant, potentially dropping operating fees and rising profits.
Researchers found that the cash transaction in cannabis dispensaries is not even half of the non-cash transactions today. Even A large cannabis dispensary in Colorado instantly saw a 27% increase in wholesales when they started using cashless ATMs.
The final thought
Dispensary managers and owners are now seeking ways to grow profits, satisfy customers and streamline the business. And, now you know the answer lies in cannabis payments, especially cashless ATMs. So, now all you have to do is to contact an ATM company to install an ATM. There are several ATM companies in Colorado that can help you with this.