This article is brought to you by Cash Depot.

Many consumers want self-service options when shopping retail—81% of consumers say they want more self-service options, and 67% of consumers prefer using a form of self-service to talking to a person, according to data from Cash Depot.

“This is because self-service is faster, more private, more convenient and provides payment flexibility,” said Sean Burke, CEO of Cash Depot.

Offering your customers payment flexibility is critical, he continued. “Self-service helps cater to the unbanked and underbanked. There are over 5.9 million unbanked households in the United States and 18.6 million underbanked households—over 71% of which use only non-bank financial services.”

According to data from Cash Depot:

• Over 44% of consumers want self-service bill payment.
• Over 31% of consumers want the option to reload or purchase gift and prepaid cards.
• Over 30% of consumers want money transfer options.

“The list goes on,” said Burke. “Retailers can increase customer satisfaction by meeting these demands and offering a wide range of services in a single location with a streamlined customer experience.”

But using separate systems to provide all of the self-service financial services consumers are looking for—Bitcoin machines, ATMs and financial services kiosks—can take up valuable floor space in compact retail footprints.

“Cash Depot’s BANK IN A BOX can provide all of these things plus your store’s cash management,” said Burke. “It improves space efficiency by consolidating multiple services into a single piece of equipment and simplifies retailers’ kiosk management with one standalone machine.”

Offering these services also helps retailers earn revenue and collect commissions on successful transactions, Burke said.

“BANK IN A BOX is a unique multi-denomination ATM—boosting transaction volumes an average of 2-3% or more—and provides additional consumer banking services such as cash deposits, purchasing and selling Bitcoin and paying bills,” said Burke. “It also gives retailers the flexibility to add and benefit from new financial applications as they roll out.”

Ultimately, Burke said the money made from commercial deposits and consumer banking will grow to offset—and eventually outpace—retailers’ monthly cash management costs, which can be hefty if they’re relying on more “traditional” services such as manual counting, smart safes or cash recyclers.

Dive into more content about cash management sponsored by Cash Depot. Read about cash management, recycling, the hidden costs of cash management, how to save on cash management, provisional credit, interest and fees, how to reduce shrink and external theft, how to choose the right cash management system and how to make cash management more profitable.