Cash is not something a lot of people carry around today, but there are times when cash is the most convenient way to pay for things. If you are planning a huge event and expect thousands of people to show up, you might want to consider renting an ATM for the event. With this, your customers will have a simple way to get cash, and you could benefit from this in many ways.
You can earn money from transactions
One way offering an ATM at your event could be profitable is by the money you can earn from the transactions. The companies that rent ATM machines often allow event managers to choose how much they will charge for usage of the ATM. This could be anywhere from $1 to $5, and this is a fee each customer will have to pay when using the ATM. Imagine how much extra money you could make simply by offering this service at your event.
It costs money to accept credit cards
Another thing to consider is the amount of money it costs vendors to accept credit cards. Anyone selling something will prefer to receive cash for purchases, and there are several reasons for this. First of all, cash is cash, and cash is always the best payment option. Secondly, it takes time to run credit card transactions, which can create long lines at booths. Finally, it costs money to accept credit cards. The companies that manage credit card transactions charge fees to vendors each time they run transactions. This means that the vendors are not earning as much money with credit card transactions.
If you have an ATM available at your event and post signs that the booths accept cash only, you will benefit and so will your vendors.
People may spend more money
Even if your guests knew that it was a cash-only event, they may not bring enough cash with them. If they had no way of getting cash, they would be limited with how much they could spend. With the availability of an ATM machine, your guests may end up spending more money at your event, simply because they had an easy way to get more cash.
Renting an ATM is a great idea for any type of event you may be hosting. If you would like to learn more about this, contact a company that rents ATMs in your area.
For more information, you will want to contact a company such as Maritech ATM Solutions.