A poll of 3,000 credit and debit cardholders has highlighted the value of ATM machines to convenience store retailers, revealing that 16% of cash machine transactions now take place in convenience stores.
The survey, conducted by independent research company OnePoll and commissioned by NoteMachine, also showed that one in five respondents find it easier to manage their money if they withdraw it in notes from a cash machine - creating an opportunity for retailers.
NoteMachine executive director Peter McNamara said: “Whereas at one time the cash machine existed only on the wall of the bank branch, they are now much more common, from corner shops to pubs and clubs.”
John Perrett, who runs 13 Spar outlets on the Isle of Wight, said he sees a 10% return on every cash machine transaction made in his stores.
“On average about £1 out of every £10 comes back into our shops, so having a cash machine operating on site has a positive impact on our sales, and any additional running costs are wiped out by the extra income we gain,” he said.