We explain the costs for a (mobile) ATM on the basis of three clear and concrete examples.
ATMs are somewhat discredited during the current corona pandemic. Many consumers are somewhat reluctant to touch them for fear of contamination. And although there does not seem to be any concrete evidence for the transmission of the virus via this type of equipment, that is also quite understandable.
It brings the necessary changes in the world of debit card payments. For example, the demand for mobile ATMs is currently rising. After all, they are easy to carry, easy to clean and able to let customers pay contactless. That in turn raises the question of what such a thing costs.
The answer to that is not easy, because it depends entirely on what you need such a mobile ATM for. And that again depends on the type of company you run.
Do you still understand? We'll make a brave effort below to clarify a few things for you. Also interesting, check out our comparison of all mobile ATMs .
Example 1: your own transport service
Imagine - you have your own transport service and you provide services on location. This means that you do not have to process too many transactions relatively. For example, you drive packages for one client for a working day and present him or her the bill at the end of the journey. This is paid via your mobile pin device.
In such a case, it concerns relatively large amounts. At least - bigger than a cup of tea on a terrace. It pays to look for a provider that works a fixed amount per transaction. codemobile , for example. codemobile charges one-time costs for the purchase of the device. These are $ 29 . The costs per transaction are $ 0.14 .
You purchase a one-off ATM for $ 29. In a month you process twenty transactions of $ 200 each. You pay 20 x $ 0.14 = $ 2.80 per month.
You could also have opted for a provider that works with a percentage of the amount withdrawn. iTransact is the most obvious party with a percentage of 0.95%. In that case, you could have tapped 0.95% over $ 4000 ( 20 x $ 200 ), which comes down to $ 38. A lot more, so.
Example 2: the market stall owner
In this second example, imagine yourself as a flower seller in a local market. You travel all the markets and sell - hopefully - the necessary roses and tulips. You are then dealing with a situation in which small transactions (less than $ 20) are committed each time. However, the number of transactions is much higher than in the first example.
In this case, the aforementioned iTransact - or another provider working with a transaction percentage - is much cheaper. iTransact also charges $ 29 for the one-time purchase of the device and then works with a percentage of 0.95% of the amount pinned.
You purchase an ATM once again for $ 29. In one week you can sell three hundred bunches of tulips for $ 3 per bunch. That gives you $ 900 ( 300 x $ 3 ). With the percentage of 0.95, this equates to an amount of $ 8.55 that goes to iTransact.
For comparison: if you had taken out a subscription with codemobile, it would have cost you $ 0.14 per transaction. With three hundred bunches of tulips, this amounts to a much higher amount of $ 126.
Example 3: the restaurant owner
Finally, there is a third situation where you own a snack bar, for example. The transactions are then medium in size and in terms of amounts are somewhat in between the examples mentioned above. The choice between a fixed or mobile PIN device is then more relevant than that between a fixed amount or a transaction percentage.
You now know what a mobile card machine costs. With a fixed copy the principle is the same, but the prices are different. You will also find devices from $ 29 , but also from $ 825 . More expensive copies come with all kinds of unique features, such as the possibility to print receipts.
In addition to the costs for the purchase, you also have to deal with transaction costs here. In the case of a restaurant, it is almost always cheaper to pay an amount per transaction. Depending on the provider, these are somewhere between $ 0.20 and $ 0.30 per transaction.
Restaurants easily have twenty transactions a day. Suppose this is indeed the case and the average value thereof is $ 40 per transaction. You collect $ 800 ( 20 x $ 40 ) one day. Then, if we sit exactly between $ 0.20 and $ 0.30 - so at $ 0.25 per transaction - that will cost you $ 5 ( 20 x $ 0.25 ) per day.
It happens that also fixed ATMs use fixed transaction percentages - of 2%, for example. However, this is only useful for beach tents that mainly sell popsicles and the like. A restaurant usually does not work with these types of low transactions. A transaction percentage of 2% in the above example already leads to $ 16.
Curious about what suits you? Here we list all mobile PIN devices, so that you can easily compare them.