What next - a $3.00 Bill?

Finally we have an uproar in our industry caused by someone other than the off premise retail ATM market.  Last week, when a leading “big bank” announced the $3.00 surcharge, you would have thought they were holding a gun to the head of the public.  Such an outcry. I would like to take this opportunity to thank the “big bank” for setting the standard for all of the other banks and helping us out by raising the bar.  Hey off premise – maybe you aren’t so bad after all. 

As an ISO, how do you take advantage? Raise your surcharge and point at “them”, or advertise a lower surcharge and try to increase your transaction volume.  We are in a transaction business and anything that the off premise industry can do to help the revenue stream is greatly appreciated. 

Thanks to compliance issues and eroding margins, the retail off premise side of the ATM industry has struggled in 2007.  I hope the surcharge increase on the “big bank” side is a positive factor for the off premise ATM industry in 2008. If nothing else, it’s great to see “big bank” ATMs on Dateline and 60 Minutes instead of the “lowly” off premise machines normally making the headlines.