Cash vs Card

Posted By Merchant365 ATM Placement / ATM News / atm, cash, money / No Comments

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

Posted By Merchant365 ATM Placement / ATM News / atm, history, service / No Comments

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.
Picture Source: Pixabay

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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

Posted By Merchant365 ATM Placement / ATM News / atm, ATM rental, ATM rental benefits, cash, rent an ATM / No Comments

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 Machines – Statistics All Throughout Canada

Posted By Merchant365 ATM Placement / ATM News / abm, atm, statistics / No Comments

Automated Teller Machines or Automated Banking Machines are a staple of Canadian life. ATM machines in recent years have become independent and are no longer the sole domain of large banking institutions. Merchant365 has been involved in this growth and we are very aware of the trends:

  • 18 per cent of Canadians say they do the majority of their financial transactions at ATM machines
  • There are over 65,000 atm machines in Canada and 18,711 of these are bank-owned ATM Machines
  • ATM machines have rapidly become one of the leading methods for people to access their cash while on the go

That leaves more than 40,000 independently owned and operated ATM machines in North America!

Merchant365 has dedicated ourselves to spreading atm machines to as many locations as possible with a strong presence in Alberta. Merchant 365 loves to support local business within the Alberta economy. The thinking behind this is to enable everyone to have convenient access to their bank funds. There are added benefits for business owners as well:

  1. Having an ATM / ABM machine in your place of business can draw customers in who might not have otherwise stopped by
  2. You can provide a simple and hassle free service allowing customers to access cash without having to have more of your own cash to do so
  3. You can earn a fee for each transaction done on the machine at your place of business
  4. Working with a local ATM placement provider keeps business within the local economy
  5. Create another avenue of payment to save yourself the cost of merchant processing fees

If you are interested send us an email to see what we can do for you! Merchant 365 currently serves/processes hundreds of locations within Alberta within a various range of businesses. Get the conversation started! #yeg #supportlocal #edmonton #Alberta

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