FAQ.
Why Are Businesses Going Cashless?
When businesses total up all the costs associated with accepting cash, the results can be surprising. Without turning away cash paying customers, organizations are choosing the many benefits of cashlessness with a Reverse ATM:
- Eliminate internal & external cash theft.
- Accurate and efficient account of revenue.
- Faster transactions = Shorter lines and greater revenue capture.
- Cut labor costs: No more time spent accepting, exchanging, counting or sorting bills and coins.
- Eliminate costs associated with armored truck pick-ups / bank runs / cash orders.
- Reduce risk and liability of employee endangerment.
- Alleviate pathogen concerns with cash.
Who is Going Cashless?
An increasing number of organizations across all industries are going cashless. From hospitality to retail to transit –any organization that conducts in-person transactions can benefit from going cashless. Every day, more organizations are learning what the NFL, MLB, NHL and NBA have already discovered: Going Cashless is easy and profitable.
Is it legal to refuse cash?
An increasing number of states and municipalities are passing laws that require merchants to accept cash, asserting that refusing cash-paying customers can be discriminatory toward lower income consumers. A Reverse ATM is a cashless compliance solution, as it allows cash-carrying customers to convert their cash to use for a purchase. At current count, these are the most recent cities and states to pass “cashless ban” laws.
How does a reverse ATM work and who services the equipment?
A consumer can use a Reverse ATM by feeding cash into the kiosk. The kiosk will then dispense a pre-paid debit card that can be used anywhere Visa/Mastercard is accepted.
The Reverse ATM Kiosk is owned, operated and serviced by BluePoint.