Seth Blank, CFO with Premier Merchants Group, recently joined Darren Schulte, NATSO's vice president, membership, and myself to share his ATM expertise.
From innovations in ATM cleaning to upcoming cardless transaction technology, he gives us the inside scoop on what is happening with ATM technology.
During the video we covered:
ATM Cleaning: Safety and cleaning are top of mind for everyone right now. Blank shared with us about a UV keypad sanitizer from Genmega that will automatically clean ATMs. This technology will reduce labor and increase customer comfort.
Bitcoin Spike in Demand: The number of bitcoin users has grown 20 million users since 2005. Blank shared that May’s bitcoin’s sales doubled from April, June’s bitcoin sales doubled from May and July is on pace to double June. He shared that there is a demand for bitcoin and it brings in a consistent customer. When looking at transaction logs, these customers are often coming in every day. In August of 2019, Premier Merchants Group added bitcoin technology to their ATMs. The customer can pre-stage the sale and complete the transfer to their bitcoin wallet at the machine.
Cardless Transactions: Blank shared that for most cardless transactions, you still need to touch the machine to enter your pin and order number. You can pre-stage the transaction at your phone and complete it at the ATM. The advantage is parents can use this technology to allow their kids to take out cash without a card, it reduces the likelihood of skimming theft and it allows customers to travel without their debit card. (We did find out that Darren still uses American Express Traveler’s checks, much to the enjoyment of Seth and me.)
ATM Placement: Blank recommends truckstops and travel centers place their ATM in a high traffic area to encourage impulse cash withdrawal.
Listen to the video to hear what Blank thinks is next in ATM innovation.
// Premier Merchants Group is one of the nation’s leading merchant services provider specializing in ATMs and credit card processing. In 2011 Payment Alliance International (PAI), the largest non-bank ATM operator in the United States, named Premier as PAI’s second fastest growing company in the nation. Learn more at www.pmgcom.com. Reach out to Blank at seth@pmgcom.com or 855-764-2867.
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