Cash Transactions on the Rise with US Consumers

July 23, 2010 - PRLog -- Credit card fraud is at an all time high and consumer confidence in  the safety of financial information, not just on the internet, but in retail stores and restaurants also is bottoming out.  Coupled with rising credit card interest rates, a soft economy and a unstable job market the smell of cash is stronger on the streets than it has been in 10 years.  

This is good news for ATM companies.

Gas stations across the country are increasingly offering discounts for fuel purchases made with cash as high oil prices and credit card transaction fees burn up profits.

Motorist Miles Walcott of New Haven, Connecticut, told CNN affiliate WTNH-TV that he'd change his routine to take advantage of a cash discount.

"I don't normally carry that much money around with me, because it'll probably take about $90 to $100 to fill my tank up. So, I mean, if I was going to save some money by using cash as opposed to using a credit card, then I would go to the ATM first," Walcott said.

Walcott isn’t the only one making a visit to the ATM part of his weekly errands.  American Consumer Financial Network (ACFN), the only ATM franchise in North America, has cited an increase in franchise inquires as the currency preference for many Americans has started changing.  “When the economy was booming the convenience of pulling out a credit card outweighed the fact that it wasn’t the smartest financial decision.  Times have changed and consumers now prefer to stop at an ATM to be sure they can use cash for all their small daily transactions,” said Jeff Kerr, ACFN Founder and President.  “We see the trend toward cash growing,” Kerr added.

Many locally owned restaurants are charging a small fee for credit cards usage in an effort to recoup the fees charged to them.

“We accept credit cards, but we had to begin charging a .50 fee to continue accepting them to cover the transaction fees we are charged.  As a mom and pop restaurant our margins are very small and those transaction fees add up,” said Carrie Keifer manager of Freddie’s Hamburgers on historic route 66 in Tulsa, OK.  “We actually don’t do that much credit card business anymore, just a few a day.

While electronic bill paying is at an all time high, personal daily transactions under $100 are moving toward cash at a fast.

“Counting out cash for a transaction affects a person differently than simply signing a receipt.  This emotional attachment to cash can be an effective tool to curb impulse spending, help budgeting, prevent unexpected fees and save a little at the pump” offered Kerr.

ACFN is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses.

Providing ATM services since 1996, franchised in 2003 with 150 franchises, 1250 ATM Machines in the US and Canada ACFN is a leader in the ATM industry with a proven track record and an impressive client list.

ACFN the ATM franchise business is an opportunity for individuals interested in developing a business with a recurring revenue stream within the financial services sector.

Find out how you can benefit from ACFN to help deliver return on investment, positive cash flow and improved revenue.

For a starting price of $25,000 anyone can purchase the tools necessary to start their own network of ATMs.

The company provides training, marketing and sales assistance, and an award winning customer service that guides franchisees through the ATM servicing process one step at a time.

ACFN furnishes their franchisees with high traffic locations through the use of a state of the art technology. Once a location is identified, ACFN handles all the legal heavy lifting, even adding a clause that states if profits aren’t acceptable, business can and will be taken elsewhere. A guarantee that solid is impossible with other brick and mortar franchises, but the ACFN difference offers unparalleled protection.

The ACFN system requires no more than a few hours a week. With over 1,250 locations across North America, and more than 150 happy franchisees, ACFN is the right opportunity at the right time.

The company also provides a comprehensive training program at their headquarters in San Jose, California and the best ongoing customer service that can only be described as second to none.

http://www.youtube.com/watch?v=y2DuNabUgNA



American Consumer Financial Network (ACFN)
111 W. St. John St
Sixth Floor
San Jose, CA 95113
Tel 888-794-2236

Visit their webpage http://www.acfnfranchised.com/

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ACFN is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses. Providing ATM services since 1996, franchised in 2003 with 150 franchises, 1200 ATM Machines in the US and Canada.