Cash vs Card

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If you’ve ever wondered how your peers seem to afford things that are out of your financial reach, the answer might surprise you. While some might pay for that new smartphone or vehicle through a secret second job or savvy saving practices, many people utilize credit to finance luxury purchases. While the majority of national household debt is comprised of home mortgages, a significant and rising percentage is made up of car loans and credit card purchases.

Credit Cards Make Spending Easy

The widespread use of credit cards can be attributed to how easy they are to use. Instead of having to carry multiple bills or coins, you can leave home with a single sliver of plastic. And monthly statements available online theoretically make tracking spending much easier than keeping a personal itemized list.

But the convenience of credit cards comes at a price. Studies show that people, even typically frugal ones, tend to spend more when using cards rather than cash. Unlike credit cards, debit cards deduct money from your account immediately. However, psychologically, it’s still much easier to thoughtlessly swipe that piece of plastic as opposed to handing over your hard-earned paper.

Even the usefulness of that monthly statement can be deceptive, as it will tell you when and where you spent your money, but won’t reveal what exactly you bought at that location and how you spend your money.

Cash Can Keep Spending in Check

Carrying cash instead of a credit card limits your spending to whatever you can buy with what’s in your wallet or can take out of an ATM. Instead of comparing numbers on a monthly statement, you can see your available resources in front of your eyes, giving you an immediate sense of what you can and can’t afford.

The greatest benefit of using cash over credit is avoiding debt. While many people rationalize their large, non-essential purchases by telling themselves that they’ll pay them off later, debt can quickly spiral out of control and take a toll financially and emotionally. Restricting your spending to cash eliminates this problem, as you can’t spend what you don’t have.

Make cash more convenient for you and your customers with Merchant 365. Visit or call 780-909-5539 for all your ATM placement and service needs!

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5 Fun Facts To Celebrate The 50th Birthday Of ATMs

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The automatic teller machine (ATM) just turned 50. Over the last five decades, it has become one of the world’s most important devices, giving people the option to conveniently get cash, make deposits and handle many more banking tasks. Want to learn more about this helpful machine? Here are five fun facts.

1. Multiple People Invented Versions of the ATM

Depending on who you ask, you’ll get a markedly different story on who invented the ATM. says it was Don Wetzel, who came up with a machine to dispense cash in 1969. Wikipedia gives credit to John Shepherd-Barron, who had his version debut in 1967 for Barclays Bank. There was also Luther George Simjian, who invented his Bankograph in 1960, although it wasn’t successful.

2. Credit Shephard-Barron’s Wife for the Four-Digit PIN

Shepherd-Barron also came up with the idea for the personal identification number (PIN). Although he was easily able to recall his army number, which was six digits, he asked his wife how many numbers she could remember. She said four, and thus, the four-digit PIN was born.

3. ATM Limits Were Once Just $14

When Shepherd-Barron’s ATMs debuted for Barclays Bank, the maximum amount you could withdraw was 10 pounds, which is around $14. Of course, with inflation, $10 in 1967 is equivalent to over $70 today. Still, ATM limits have gone up considerably, with most banks setting their limit at $1,000. A few have lower limits, such as $400 or $500, but some also have limits in the $2,000 to $3,000 range.

4. They’re Widespread – and They Just Keep Spreading

The number of ATMs has increased at a steady rate, but it really exploded in the 80s. The total number of ATMs worldwide is now over 3 million, and a new one gets installed around every three minutes. There is even an ATM all the way out in Antarctica.

5. Banks Grew Because of ATMs

Even though bank accounts are very popular nowadays, that wasn’t always the case. Before the ATM came out, many Americans instead opted for getting paid in cash. The ATM changed that. Because banking was more convenient and even cool, in its own way, more people started signing up for bank accounts. Although banks instituted ATM fees in the 90s, by that point, banking was already established as the best way to keep track of your money.

If you are in need of renting an ATM for your event reach out to us so we can provide you the best solution.
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The Critial Importance of ATM’s in Small Businesses

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ATM Machines and Small Businesses

ATMs (Automated Teller Machines) can do wonders for small businesses that crave efficiency and convenience. It’s important for businesses to install these machines in areas that receive significant traffic. ATMs can give businesses access to a number of advantages.

ATMs can give businesses extra revenue. Surcharges for these machines can add up quickly. Businesses can reap the rewards of the surcharges while they’re open. They can often reap them while they’re closed as well.

ATM machines can help minimize processing problems for small businesses. It isn’t at all uncommon for smaller businesses to struggle to cover credit and debit card company processing charges. This is where ATMs come in handy. ATMs can decrease costs by promoting the use of cash. These machines even help reduce frustrating processing times. That’s because confirming the identities of individuals who pay using credit cards and checks can frequently eat up a lot of time.

ATMs can be lifesavers for those who need to be able to retrieve cash swiftly and easily. If a small business has one of these machines around, there’s a good chance that a user will put the cash he takes out toward a purchase there. ATMs are commonly seen in mini marts all around the United States. If a customer takes money out at a mini mart, he may feel the urge to buy something he sees while walking out. He may feel compelled to purchase bottled water, a bag of potato chips or something else equally fast and hassle-free.

ATMs, interestingly enough, can also make excellent and effective marketing and sales devices for businesses. Comprehensive programming practices enable these machines to operate as in-depth interactive platforms. These platforms can be beneficial to businesses that want to receive higher numbers of sales. The vast majority of businesses fall into this category. These platforms can also be a boon to businesses that want to get customers to come back for more and more. They can even assist businesses that wish to market their available products and services better. Video advertisements are frequently seen on the screens of ATMs. These promotional opportunities are just the beginning as well. Companies are only beginning to discover all of the marketing possibilities that ATMs bring to the table.

If you’re considering ATM installation for your small business, get in contact with Merchant 365 without delay. Merchant 365 specializes in first-rate debit terminals and merchant services.

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Why You Need to Rent an ATM for Your Next Big Event

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Many things go into planning a fair, festival or another special event; from finding the right location and obtaining the necessary permits to hiring vendors and actually getting people to come. One other thing you’ll definitely want to consider for your event is an ATM rental, as it’s an easy way to ensure that your event is more profitable for everyone involved. You may ask why?
You’ll obviously want to encourage people to spend as much money as possible at your event. Therefore, it only makes sense to have an ATM or two onsite since this will ensure that people have easy access to cash.

Truth is most people go to festivals and other special events prepared to spend money, often much more than they would ever consider spending on a typical night out. In fact, people will often spend so freely that they run out of cash. Unfortunately, many event vendors are unable or unwilling to accept credit card payments, which means everyone involved is potentially missing out on profits.This is obviously where an ATM rental can come in handy. In many cases, having an ATM nearby will actually encourage people to spend more money. Better still, statistics show that people who take out money at special events tend to end up spending everything they take out at the event. In this way, having easy access to cash, all attendees will have a positive experience, especially those who forgot to bring cash with them.

All of these factors point to an ATM rental being one of the smartest decisions you can make in regards to planning your event. Ensuring attendees have access to cash will help make them and all of the vendors much happier and more satisfied in the long run. Best of all, the process couldn’t be simpler. All you need to do is rent an ATM from Merchant365 for your event and see a dramatic increase in profits.


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Here’s Why Cash Is Still Important For Small Businesses

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In this age of high-tech payment methods, most businesses will happily accept a good old dollar bill. Your small business should encourage customers to use cash. It is a simple payment that is cheaper and more secure than credit and debit cards. Your business and your customers both benefit when you work with paper money.

According to data from Intuit, around 55 percent of small businesses don’t accept credit cards. Another survey found that 72 percent of business owners don’t prefer credit card payments, and there are many reasons for this. Paying with plastic makes things more complicated for shopkeepers. It requires more bookkeeping, and you have to wait a few days for your money. Plastic also requires slow machines, which have gotten even slower since banks introduced the new chip-enabled cards.

Paper money is also more secure. Yes, you can lose it, but it can’t get hacked like a credit card system. You don’t want to end up like Home Depot, a company that lost $10 billion thanks to criminals hacking into their transactions data in 2014. Credit card machines are also vulnerable to crashes. This is a lesson that shopkeepers in the UK learned the hard way on Valentine’s Day in 2015. On that day, businesses lost thousands of sales because card systems went down.

Accepting card payments also costs your small business money. When your customers pay you with dollar bills, you don’t owe any fees to a third party. Compare that with the cut from each sale that credit card companies take. These fees average around 2% for MasterCard, Visa, and Discover. American Express takes an average of 3%. All cards charge a flat 20 to 30 cent fee per transaction on top of these percentages.

Your customers also benefit when you encourage cash payments. A study by Allpoint found that 49% of consumers said they paid with dollar bills last year, while 43% said they used cards. Most of your potential customers simply prefer paper over plastic, but some don’t have a choice. When your business is dollar bill friendly, consumers without traditional bank accounts can buy your goods and services.

Putting an ATM in your small business is a good way to encourage your customers to pay with paper. At Merchant365, we have placed many money machines in businesses across Western Canada. Our ATMs are reliable and we offer 24/7 technical support to our clients. Contact us today for more information about how an ATM from Merchant365 can help your business gain all the benefits of cash.

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ATM Card Skimmers – What You Need To Know

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Criminals have developed a new way to target ATMs all across the nation. This plan involves the use of a skimmer and a hidden camera. If you regularly use ATMs, it’s important to be aware of this scheme because it is possible that criminals could obtain your personal information. Here’s some more information on ATM schemes and the ways in which you can protect yourself from them.

Skimmers are devices that can collect information from the swipe of a bank card. It appears that now there is a two-part scam going on that involves the addition of a small camera. This camera is installed, usually alongside a skimmer, to obtain as much victim information as possible. Once the information is obtained, the criminal has easy access to your bank account and the finances contained within it. Making matters worse for civilians is the fact that the two-part system only takes a few minutes to install.

But there are steps that can be taken to protect yourself from criminals that target ATMs. First, always slightly wiggle the card when inserting it into the machine to see if it is legal. In addition, covering your hand while you enter your PIN number offers you protection against potential cameras in the area. Seeing error messages within a group of ATMs could be another potential warning sign. The most shocking fact is that there are times when criminals will intentionally surround ATM machines to get potential victims to go to their skimmer.

So what should you do to protect your business from such activities? The answer is simple – If you want to make sure you own quality ATMs contact us today and find out how we can provide you with the right ATM machine for the needs of your business.

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Convenience Stores and Cash: A Perfect Match

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Can you remember the last time someone came into your store and paid for their morning coffee with plastic? Recent consumer research shows that people would rather pay for small purchases with cash. Studies also show that people expect access to their money in convenience stores, so a new ATM in your shop will satisfy your customers.

A 2015 study by Cardtronics researched how consumers spend their money on different kinds of purchases. This survey discovered that 63% use cash when they visit their local convenience store. It also found that 77% of consumers prefer to use their dollar bills for purchases of less than $5. A similar study by came to the same conclusion in 2014, with 65% of shoppers preferring paper over plastic for small purchases.

It is likely that many potential customers expect to be able to withdraw their money from a machine in your store. In 2012, Nielsen completed a study for Cardtronics that researched money machine use by consumers. They found that people use ATMs in convenience stores more often than they use machines found in other types of retail outlets. The same survey shows that 75% of shoppers plan on withdrawing their money from a machine when they visit a convenience store.

An automatic teller machine will give your regular customers a convenient source of cash that they can spend inside your store. In order to connect your customers to their money, you will need to find someone to install and service an ATM. Merchant365 is a company that specializes in placing reliable machines in businesses across Western Canada. Our customer service lines are open 24 hours a day. Contact us today to find out how we can set your business up with an ATM.

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If You Think the Age of Cash is Over, Then Think Again

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There are approximately 6,300 banks today in Canada compared to approximately 19,000 ATMs. The way that people obtain cash has changed with financial institutions hustling to keep up with the demands of its consumers for more convenience.


Financial Institutions Closing Branches

Experts with Forbes suggest that the number of banks will shrink to less than 3,200 within the next decade. Even more banks are expected to close their smaller branches. Therefore, consumers are turning to ATMs to get cash. Globally, according to MasterCard, cash remains the most common method of payment.


Consumers Still Using Cash

In a 2016 survey, Mercator Advisory Group asked consumers to self-report rather they used cash more, less or about the same as they did one year ago. Over 64 percent of respondents said they had used cash about the same while 21 percent said their use of cash had increased. Only 15 percent reported that they used less cash in 2016 than in 2015.


Consumers Demand Convenient ATMs

According to Visa, the number one reason that consumers give in choosing their financial institution is convenient locations of ATMs where the customer already shops and lives. One of the challenges being faced by financial institutions is giving consumers the cash they demand. More institutions are joining large ATM networks like Allpoint allowing their consumers surcharge-free access to their money when using an ATM within the network.


Cash Use Highest Among Millennials

While many older people may still like the thought of going into a financial institution, according to a survey by Chase Bank, that is not the case with younger consumers. The survey found that over 80 percent of millennials preferred to use the ATM with most young adults use an ATM at least weekly to obtain the cash that they need.


Financial institutions will need to keep up with demand by consumers who love the self-sufficiency of running to the nearest ATM when they want money.


If you would like more information about renting an ATM machine in Edmonton or want to contact us to discuss ATM placement and merchant payment options, please contact us.

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The History of the ATM

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The ATM, acronym for automated teller machine, was sought out in the 1950’s. There was a strong desire for the simplification of banking. As a result, Japan, UK, Sweden and U.S. made collective efforts to pursue the developments of self-service banking. One of the first machines patented and approved for use was the Bankograph invented by George Simijian in 1963. It was released on a experimental basis in New York City for less than a year due to consumer rejection. Like most innovations, there would be more versions and replications to follow. Shortly thereafter, the United Kingdom launched a cash machine in North London. An event was organized where the local celebrity comedian, Reg Varney, utilized the machine to give it more exposure and encourage use.
The early ATMs used tokens or vouchers to grant access to machines as plastic cards were not yet being used. In 1969, the Speytec cash machine changed the game. Their machines used plastic cards with a single magnetic strip. British engineer, James Goodfellow later introduced the idea of the PIN for added security to be stored on the cards.
The first official network ATM was attributed to Donald Wentzel through the Chemical Bank and was known as the Docuteller.

Soon enough, not only was the ATM accessible at or near banks, they began to appear at shopping locations, gas stations, airports or just about anywhere a large amount of people populated. Most of these ATMs are either established by banks or independent sales organizations. ATMs not established by a bank is considered a ‘White Label ATM.”

The innovation of the ATM has come a long way since the 1950’s. We can expect more advancements in the near future. Some projected advancements include cardless ATM access and live teller conferencing.

If you would like more information about renting an ATM machine in Edmonton or want to contact us to discuss ATM placement and merchant payment options, please contact us. Get the conversation started! #yeg #supportlocal #edmonton #Alberta

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Why Consumers Prefer the ATM Over the Bank

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Many consumers are ditching the traditional bank and choosing to use the ATM instead. Here’s why:

ATMs are Open 24/7


ATMs are always open and operate round the clock. However, there is a set limit to the amount a customer can withdraw during the day or night.


ATMs are Free from Error


ATMs offer error free services, and customers can get the exact amount they want. Unlike bank’s staff members, ATMs don’t experience human errors.


ATMs are Convenient for Travellers


ATMs offer great help to travelers, and they don’t need to risk by carrying a lot of money with them. Travelers can withdraw their monies from any state or city across the country, or even from outside the country from an ATM.


 ATMs are Convenient to Local Customers

This is because they are strategically placed at convenient locations, such as railway stations and airports among others, and not only near banks. Consumers find it extremely resourceful to have access to cash onsite for uninterrupted shopping.
Privacy and Security

Consumers appreciate the ability to make transactions discreetly in any area. Also, ATMs have unmatched security measures so that account activity can be tracked and accounted for.
ATMs are convenient, and they help customers save the time and cost of transport by bringing the self-service banking. The best and most appreciated ATMs are located near places of work, near where they live, and they are also located in various locations such as supermarkets, shopping malls, universities, and petrol stations to create time-saving benefits.

If you would like more information about renting an ATM machine in Edmonton or want to contact us to discuss ATM placement and merchant payment options, please contact us. Get the conversation started! #yeg #supportlocal #edmonton #Alberta




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