News & Events

Cummins Allison Shares Financial And Service Benefits Of Owning A Self-Service Coin Kiosk

 

 

 

MARCH 6, 2012, MT. PROSPECT, IL— Today's retail marketplace is focused on maximizing opportunities for greater returns, and self-service coin machines are a highly effective way to increase store profits. Retailers that are ready to implement a self-service coin redemption solution have two options: purchase it for store ownership or lease the machine from a third party. Ownership means there is a capital expenditure upfront, but relying on a third-party for placement can prevent maximum cash flow. Leading innovator and provider of coin and currency handling solutions, Cummins Allison, explains why ownership is the best path for achieving the greatest return on investment (ROI).

 


Why Buying = Highest ROI

 


By owning a self-service coin counter, retailers can keep 100 percent of the fees generated from coin redemption. In addition, retailers that own a self-service coin machine can count on a consistent revenue stream for the full processed coin amount. For example, retailers that invest in the ownership of a self-service coin kiosk reap the return of more than seven times the original investment when calculated over the lifetime of the coin redemption machine.


In contrast, a self-service coin counter that is placed by a third-party organization delivers an average royalty payment to the store of less than two percent, while as much as 98 percent of the fee revenue is collected by the equipment owner.


"We've been interested in adding self-service coin machines to our stores so we can provide another service to our customers, but had yet to find a coin program worth the investment," said Clint Woodman, vice president of Woodman's. "At Woodman's, if we can take on something ourselves and get the income from it, then that's what we will choose to do. Purchasing Cummins Allison self-service coin machines with FastPay fit our business model of delivering fast, efficient and high customer service and that's what sold us."


 

Machine Uptime

 


Equally important to ownership is investing in a high quality coin counting machine. Retailers stand to benefit from significant coin volume due to consistent machine uptime and high-performance, as well as fewer attendant calls; meaning staff can devote time to customer service. Customers know they can rely on fast coin processing and are inclined to spread positive word-of-mouth advertising on the coin machine's behalf.

 


Gain Control of Coin Redemption

 


With ownership comes the freedom to set redemption fees to determine revenue where retailers can gain control of their coin redemption machine and earn seven percent or more on their self-service coin machine. In addition, retailers can extend their brand, drive promotions and capture incremental growth by retaining all profits and increasing coin redemption revenue over time.
To learn more about increasing profits for your organization with ownership of a self-service coin machine, visit http://grocer.cumminsallison.com/CaseStudies.aspx.

 

 

About Cummins Allison

 


Cummins Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 100+ year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government.


The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries. For more information, visit www.cumminsallison.com.

 


Contacts

 

Carol Moore – Vice President Marketing

Cummins Allison Corp.

Tel: 847.759.6403

moorec@cumminsallison.com

 

Suzy Watson

Outlook Marketing Services, Inc.

Tel: 312-873-3423

sgwatson@outlookmarketingsrv.com