“We are working twice as hard and making half as much,” was the most common statement at the recent ATMIA Conference in Scottsdale, AZ.  This echoed across the entire ATM industry’s spectrum of distributors, vendors and service providers.  Rightfully so…the past few years have been difficult to say the least.  They’ve also proven expensive as we continue to fight Congress and the major card brands to keep our revenues secure.

Fortunately, we’re not a divided industry.  We may be highly competitive with each other, but we’re not at odds when it comes to the health of our industry as a whole.  None of us want it to dry up or stagnate. That’s why ATMIA was not only focused on the difficulties facing the industry but also on the latest innovations, looking for new revenue streams and/or more efficient ways to manage ATM programs.

We have long survived on surcharge and interchange, but continued survival will depend on how well we adjust and diversify.  As with technology, our business models must also quickly adapt to changes in our society and economy.  What may have worked yesterday may need to be refreshed or abandoned all together today.  Continuing to provide unprecedented customer service is essential but we should also be using our resources to innovate and help build our industry.  Think broadly and watch the trends in your areas of business.  Diversity is the key to survival for most of us.

You may wish to consider vertical markets and some of the products that are quickly emerging:

Dynamic Currency Conversion (DCC)

This option is perfect for regions where international travelers frequent.  It allows them to select which currency exchange rate is applied when they request cash from an ATM.  If they have a choice, they’ll seek out these terminals to minimize their costs of funds.  This has proven successful in several countries and it will drive business to ATM terminals supporting this application.

Lottery at the ATM

Introduced several years ago at an ATMIA conference, this is finally gaining market traction and acceptance with State gaming authorities.  This is ideal for locations that don’t sell lottery today but have ample foot traffic to justify an ATM that offers this service.

“Green” ATMs

You may have noted the new Triton ARGO ATM that has just been released for distribution.  It provides a “printer-less,” option.  Receipts are either sent to the customer via text or email.  You may still elect to have a printer with this ATM, but lately many ATM users are opting for fewer receipts from transaction devices.  Most of us have electronic access to our accounts and taking receipts is usually not necessary.  An ATM without a printer becomes a lower-priced option that is ideal for locations with less than optimal foot traffic.  A clever idea and I suspect it will start a trend with other manufacturers.

Branding Programs

The latest in ATM Wraps are exquisite and very high-level graphics.  ATM Screen development is now being provided as a premium service.  Having a retail chain or financial institution branding an ATM has proven transaction up-lift benefits.  Couponing and Topper Advertising can also be tied in to branding programs.  You may have very valuable real estate that appeals to an advertiser.  Consider offering these services at a monthly fee that supports your marketing efforts.

Prepaid Products

Gift cards, prepaid debit cards and loyalty cards are very popular in retail locations and have now begun being issued by financial institutions reaching the under-banked market.  These programs lend themselves to very unique marketing opportunities that you may offer your prospects.  Automating access to these products will offer additional revenue for the ATM operator.

Payment Kiosks

We’ve long been expecting payment/financial kiosks to emerge in our markets.  Up till now, they’ve simply been very expensive to deploy and have ongoing costs that are prohibitive.  We can thank the airports and airlines for teaching most of us the benefits of having automated kiosks and most people are comfortable using them at this time.

The newest generation of payment kiosks is less expensive and more streamlined in their services.  Bill payment remains a very attractive program to add in your locations…and add that to check cashing and a few other financial services; you will see uplift in transactions as customers repeatedly come to a specific location to conduct on-going financial services.  Automations of these services are considerable time-savers and they free up personnel to work solely with customers.

Mobile Applications

ATM locators, for example, are used extensively.  Make sure your fleet is represented and given access.  This is a proven method to drive traffic to ATM locations and is a highly sought after service for financial institutions.

Check Imaging via Smart Phone is the latest application that all financial institutions are looking to add for their account holders.  This will align with their strategy to offer extensive on-line services and minimize their need to build service branches.  The more they automate, the more they can save in labor costs and real estate costs.  Look for full-function ATMs to replace bank branches in the near future.

Do your research, talk to the experts, survey your customers and consider diversifying your product offerings.  Within our industry, we have plenty of options to consider that are perfect to enable growth of services and revenue.  We can partner and/or white-label with the majority of manufacturers.  This will allow for market differentiation and the ability to offer very unique, niche-driven services.  It will set your company apart from the many others challenging you for the business.  Not just in 2013, but for many years to come.