This article is brought to you by Cash Depot.

ATMs complete transactions—they’re passive revenue generators for retailers and an important customer convenience, said Sean Burke, CEO of Cash Depot. “But many retailers are missing the bigger picture. Your ATM should work harder for your business by driving foot traffic and offering financial services beyond cash deposits and withdrawals, maximizing your store’s profit potential.”

He noted that traditional ATMs often don’t offer multi-denomination withdrawals—most dispense only $20 bills—or provide additional financial services that bring repeat visits or integrate with a store’s overall cash management needs.

He said customers are increasingly seeking one-stop financial solutions, and that 66% of consumers prefer self-service kiosks over staffed checkouts, according to a PYMNTS Intelligence report. Consumers are looking for kiosks that allow them to pay bills, transfer money, perform a mobile top-up, purchase crypto and withdraw cash in the denominations of their choosing.

Multi-denomination withdrawals, for example, increase transaction volumes by up to 3%, Burke said, and Bitcoin and digital currency services appeal to younger demographics.

“When your store offers these functionalities, it will transform customer behavior, spending patterns, and make customers more likely to choose your store’s machine,” said Burke. “It turns your store into a financial services destination. It’s the difference between transaction-based revenue and relationship-based revenue. Your customers know you are willing and able to offer them more services and more convenience.”

Local small businesses are also seeking financial services, so retailers can draw in even more revenue by offering commercial deposits for nearby stores or small business owners, Burke said.

Cash Depot’s BANK IN A BOX was designed to offer all of these services, and provides a “holistic approach to store cash,” said Burke. Its cash recycling capabilities reduce costs and fees for operators, such as courier costs or provisional credit, by allowing customers to pull cash out from the ATM. BANK IN A BOX also generates revenue with each financial transaction, he added. And it streamlines vendor relationships by offering all of these services under one provider.

“BANK IN A BOX turns your store ATM from a standalone machine into a part of your complete cash ecosystem,” said Burke. “It gives retailers the competitive advantage of being more than a convenience store by offering in-demand financial services and positions the store as the community’s financial hub. Retailers that treat their ATM/financial kiosk as a strategic asset versus an afterthought will drive revenue and win customers.”

This is the first in a two-part series on Cash Depot. Look out for part two this Thursday.