Do you want to start an ATM business but you want to go for a profitable and unique niche? If YES, here are 17 best ATM business ideas & opportunities for 2019.

What is an ATM?

An automated teller machine (ATM) is an electronic device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer of funds, or obtaining account information at any time and without the need for direct interaction with bank staff. ATMs were originally developed as cash dispensers, but they have evolved to provide many other bank-related functions.

The Automated Teller Machine industry is a thriving sector of the economy of the United States and statistics shows that the total number of ATMs in the United States is 425,000 (source-National ATM Council), Independently owned ATMs deployed- 222,000 (source-National ATM Council)

Average ATM fee/Convenience fee- $2.77 (source-National ATM Council) and Average commission payment – $.50-$1.00 (based on analysis of 100+ portfolios and 10,000+ locations), and Average interchange net income – $.10-.20 (based on analysis of 100+ portfolios and 10,000+ locations).

The costs of a new machine is between $2000 and $2500, and higher end machines with multiple cassettes and dispensers can run anywhere from $3000 and $6000.

Please note that the total cost of ownership for ATM network services is high, wherein buyers can expect to pay more than 100 percent of the benchmark purchase price per year in additional fees. Besides annual membership fees, buyers must pay transaction fees every time their cardholders use ATMs in the network. These fees include per-transaction switch fees paid to the ATM network provider, usually about two to ten.

Anyone can start an automated teller machine business as long as they have the financial capacity, license, network and business exposure. If you are interested in starting any ATM related business, here are 16 ideas you can choose from.

17 Best ATM Business ideas & Opportunities for 2019

  1. Independent ATM Business Operators

If you have the financial capacity, one of the ATM related business ideas you can consider starting is an independent ATM business. Independent ATM business operators are not banks but they install their ATM machines, fill them with cash and earn money every time a customer withdrawals money from their ATM machine.

Once the money is taken out of your ATM, it is re-deposited into a bank account of your choice on a daily basis along with the surcharge fees. A portion of the surcharge fee is typically paid to the merchant in the form of a commission or split.

Additional revenue can be made on each ATM transaction in the form of interchange. All your machines can be monitored online through a portal where you can see real time information about how much cash is in each machine and how many transactions and fees have occurred.

  1. Supply and Installation of ATM Machines

If you are considering starting an ATM machine related business, one of your options especially if you are not interested in owning and operating an ATM business is to start a business that is into supplying and installation of ATM machines.

Trust me, there are loads of banks, and independent ATM business operators that will be willing to order ATM machines from you. It is becoming trending for retailers, gas stations and facility operators to partner with independent ATM business operators or even banks to install ATM machines in their facility.

  1. Repair, Servicing and Maintenance of ATM Machines

Another demanding and money spinning ATM machine related business that an aspiring entrepreneur should consider starting is to go into the repair, servicing and maintenance of ATM machines. The truth is that ATM machines are subjected to wear and tear during use, and when they start malfunctioning and stop working, then the services of engineers who are trained to fix the machines will be needed.

So, if you are looking for an ATM machine related business to start and you know that you have the engineering background, then you can consider starting your own ATM machine repair, servicing and maintenance company.

  1. ATM Machine Designing and Manufacturing Company

If you have the financial capacity and technical knowledge, then one of the ATM related business ideas you should consider starting is an ATM designing and manufacturing company. An ATM machine designing company manufactures automated teller machines (ATMs). Currently, NCR Corporation and Diebold are the largest US-based ATM manufacturers.

Competition from abroad has tightened profit margins and prices on ATM systems. Consequently, most of the industry’s largest players operate in related industries to diversify their revenue sources and there is still room to accommodate new players in the industry.

  1. ATM Machine Software Developing and Programing Company

If you are a software developer and programmer, and you are considering starting an ATM related business, then you need not think too far. You should consider starting an ATM machine software developing and programming company. Come to think of it, ATM machines are computers that are programmed to operate seamlessly, hence the need to develop software and programming that will help it achieve this.

This is where the services of software developing and programming companies come in. With the move to a more standardized software base, financial institutions have been increasingly interested in the ability to pick and choose the application programs that drive their equipment.

WOSA/XFS, now known as CEN XFS (or simply XFS), provide a common API for accessing and manipulating the various devices of an ATM. J/XFS is a Java implementation of the CEN XFS API. Starting an ATM machine software developing and programming company is indeed a thriving business whose services will never go into extinction as long as people still make use of ATM machines.

  1. Cash Transportation Services for Independent ATM Machine Operators

Another ATM related business idea that an aspiring entrepreneur should consider starting is a cash transportation business for independent ATM business operators. No doubt, it is easier for banks to load their ATM machines with cash every morning without stress even if they have to service off- station ATMs, but it is not so for independent ATM business operators.

The security of cash during transportation from the bank or their office to ATM machines is paramount. They might not have their own bullion van like banks hence the need to hire professional cash transportation companies to help them handle that aspect of their business.

  1. Providing Security for ATM Machines

Providing security services for independent ATM business operators is yet another thriving ATM related business idea that an aspiring entrepreneur should consider starting in the United States of America. Trust me, there are locations where the usage of ATM is pretty high, but the location is exposed to all sorts of crimes.

In such locations, it is necessary that security guards are assigned to help safeguard the ATM machines and also the users of the machines especially at night. In some countries, multiple security cameras and security guards are a common feature.

In the United States, the New York State Comptroller’s Office has advised the New York State Department of Banking to have more inspections of ATMs in high crime areas. So, if you have security background and you are interested in starting an ATM machine related business, then one of your options is to start a company that provides security services for independent ATM business operators.

  1. Credit Card (ATM Card) Processing Company

Starting a credit card (ATM card) processing company is yet another ATM related business idea that an aspiring entrepreneur should consider starting. Please note that there are barriers to entry into the Credit Card Processing and Money Transferring industry due to its highly technical and regulated nature.

Participants in the industry must be in accordance with all federal and state laws associated with money transferring on top of establishing a client base in a highly competitive industry. Additionally, operators in this environment must invest heavily in infrastructure upon setting up their operations, followed by continuous infrastructure investment in subsequent years.

  1. Prepaid Credit & Debit Card Company

Another ATM related business idea that an aspiring entrepreneur should consider starting is a prepaid credit and debit card company. Prepaid Credit & Debit Card Providers issue preloaded, open-loop credit and debit cards to consumers for making purchases. Electronic Benefits Transfer (EBT) cards or closed-loop, store-branded gift cards et al are not part of the Prepaid Credit & Debit Card Providers industry.

If you live in the United States of America or in any developed country, you will agree that there are opportunities for citizens to access prepaid credit cards as long as they have the means of financing the credit card. It is a way of giving leverage for people who don’t have cash at hand but need cash.

  1. Forex ATM Business

Starting a forex ATM business is no doubt one of the unique ATM related business ideas that can be started in the United States of America. Forex ATM machine is a machine that accepts foreign ATM cards and also exchange foreign currencies.

This is how it works, if you are visiting the United States of America from Germany and the currency you have is Euro, all you have to do to get Dollars is to insert your Euro into a forex ATM machine and you will get the equivalent amount in Dollars.

This is a unique business idea that if you follow though, you will make huge returns on your investment because the United States of America is one of the countries of the world that welcomes tourists year in year out.

  1. ATM Printing Slip Manufacturing Company

Another ATM related business idea that an aspiring entrepreneur should consider starting is an ATM printing slip manufacturing company. You will notice that even if you do not make any withdrawal from an ATM machine, you can still check your balance and get it printed out. The small slip you get is manufactured by an ATM printing slip manufacturing company. Good enough, if you are already into paper production and printing, it will be easier for you to produce ATM printing slip.

  1. POS (Point of Sale) Machine Operator Kiosk

If you are considering starting an ATM related business and you don’t have the capacity to start an independent ATM operator business, then one of your options is to start a POS (Point of Sale) Machine operator kiosk business; a business where people who can’t access ATM machines can withdraw or transfer money. All you need to do is to ensure that you have enough cash or you should place a limit to the amount you can pay out per time to a client.

  1. ATM Machine Franchising Business

Starting an ATM machine franchising business is yet another viable ATM related business idea that an aspiring entrepreneur can start in the United States of America. ATM machine franchising business is a business that sells franchise to operators who are interested in starting similar ATM business in their location.

Franchising is a business model that allows the use of your business name and business system for the payment of a fee upfront and/or ongoing.

Franchising basically allows an entrepreneur to make use of your name and trademark. The franchising business model allows the owner of the company i.e. the franchisor to effectively monitor the buyer of the franchise. They go all the way to enforce specifying minimum performance criteria or quota requirements that the franchisee must meet and maintain.

  1. ATM Hardware Production Company

Another viable ATM related business idea that an aspiring entrepreneur can start in the United States of America is ATM hardware production company.

Because of heavier computing demands and the falling price of personal computer–like architectures, ATMs have moved away from custom hardware architectures using microcontrollers or application-specific integrated circuits and have adopted the hardware architecture of a personal computer, such as USB connections for peripherals, Ethernet and IP communications, and use personal computer operating systems.

As an ATM hardware production company, you can choose to produce some or all of the following; CPU (to control the user interface and transaction devices), Magnetic or chip card reader (to identify the customer), a PIN pad for accepting and encrypting Personal identification number EPP4 (similar in layout to a touch tone or calculator keypad), manufactured as part of a secure enclosure, Secure cryptoprocessor, generally within a secure enclosure, Display (used by the customer for performing the transaction),

Function key buttons (usually close to the display) or a touchscreen (used to select the various aspects of the transaction), Record printer (to provide the customer with a record of the transaction), Vault (to store the parts of the machinery requiring restricted access), Housing (for aesthetics and to attach signage to) and Sensors and indicators.

  1. Mobile ATM Machine Business

Starting a mobile ATM machine business is no doubt another ATM related business idea that an aspiring entrepreneur can successfully start in the United States of America. Mobile ATM machines move their ATM via a van or truck from one location to another in order to target high traffic locations. With this type of business, you can control the locations you chose to position your ATM machine and you can have several vans traversing different cities in the United States of America.

  1. Talking ATM Operator Business

Another unique ATM related business idea that an aspiring entrepreneur can successfully start in the United States of America is talking ATM operator business. A talking ATM is a type of ATM that provides audible instructions so that people who cannot read a screen can independently use the machine, therefore effectively eliminating the need for assistance from an external, potentially malevolent source. All audible information is delivered privately through a standard headphone jack on the face of the machine.