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A Message from Richard Crone

Retailers, transit agencies & others hosting ATMs have long shared in the $5,400 to $9,000 in annual revenue per machine generated from withdrawal fees, interchange charges, bank & network branding, advertising, offers, etc.


The success of mobile wallets such as PayPal, Venmo, Block (formerly Square), Coinbase, etc. & banks adding NYDIG cryptocurrency services in mobile banking, points to a new revenue opportunity for legacy machine manufacturers, payment networks, operators AND the retail & public transit locations they serve.


Cryptocurrency services offered by the Cash App now generate more than 70% of Block’s revenue. The same upside exists for any deployer of a card- or cash-accepting device, be it ATM, Ticket Vending Machines #TVM, #Kiosks & Point of Sale.


According to Coin ATM Radar, which tracks nearly 38,000 bitcoin ATMs, a simple, single-purpose cryptocurrency machine can generate up to $36,000 in top line revenue per unit. That’s 4 to 7 times more than a typical ATM because the unregulated fees are 10+ times higher, more than justifying the multiple paid by NCR Corporation to acquire LibertyX.


Even more opportunities with stablecoins for retailers such as convenience stores or those using autonomous check-in & checkout (e.g., Amazon Go, Dash, Standard AI, etc.) to reload their own private labeled prepaid accounts with cash. More cryptocurrency innovations to consider in this article published by Erin Del Conte & John Lofstock in CStore Decisions.


Article by Richard Crone, email rcrone@croneconsulting.com.


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