Bots Inc (BTZI)

[lesgetrich]

RFLMAO Explain why people who already have cash would want to be upcharged a fee to convert us dollars to bitcoins - and ultimately pay more money for marijuana?

LMAO ATM's aren't used by people who have enough cash in their pocket. They're used in place of credit or debit cards which currently either aren't accepted by dispensaries or, if they are, they require huge merchant fees.

And, explain why mj dispensaries - who likely already have a cash ATM would want to pay a fee to have the e-coin ATM installed on their property?

TOP 5 BENEFITS OF ATMS AT YOUR BUSINESS

1. Increased Foot Traffic

When you have a well-advertised ATM, people will come to your store to use it. This is especially true when either your business or those around accept mostly cash transactions. By having an ATM inside your business, these potential customers will enter your store to use it, giving you an opportunity to make a sale.

Cryptocurrency ATM's work just like any other ATM plus they have the added advantage of also accepting cryptocurrency. As more and more people use cryptocurrencies more and more of them will be looking for places with crypto ATM's.

2. Increased Sales

Studies show that ATM users will spend up to 25% of their withdrawal in the same store the ATM is located. Combined with more foot traffic, this could increase your sales a significant amount.

Not all dispensaries have ATM's and thousands of new dispensaries are opening every year, especially as more states decriminalize MJ.

3. Reduced Card Fees

As a merchant, you're probably familiar with the fees you must pay for purchases made with a debit or credit card. While the amount of each fee depends on the total purchase price, even small fees can add up to a significant amount. Installing an ATM will increase cash transactions, thus saving you money by reducing the number of debit and credit card fees.

As I pointed out before, when MJ merchants find companies that will allow them to process credit cards, they are charged more than other merchants because they're considered a high risk business. They're also dinged with high fees for returns and the processor withholds payment for a longer period. mCig's recent partnership with Render Payment is designed to address this problem...

MCIG Enters into the Cryptocurrency Market, Partnering with Render Payment

Render Payment Token (RPM) is a crypto-token built for utilizing smart contracts on blockchain, specifically designed to accommodate high risk merchant services at discount prices, which adds legitimacy to the worldwide cannabis community. It is backed by Ethereum's secure, global ecosystem, designed to provide businesses and individuals a trusted secure, private mechanism for financial transactions. In initial testing payment processing was integrated with Bitcoin, which proved to be reliable and stable. The solution was then migrated to the Ethereum platform utilizing the RPM token to provide lower costs, enhanced security, faster processing speed, scalability and expansion.

Render Payment is the first organization dedicated to leveraging smart contracts built on the blockchain to create and foster a financial service platform for high risk merchant services. MCIG's focus is on providing a solution not currently available to the 33,000+ cannabis businesses worldwide, with an economic impact of $44 billion per year.

4. Surcharge Revenue

When you lease or purchase an ATM, you set the transaction fee customers are charged when they use it. This fee then goes directly to you, providing your business an additional revenue stream. While you must spend some time and money on ATM maintenance, it's minimal compared to the income the machine generates. If you choose to have an ATM placed, instead, you still get a percentage of the revenue and you won't have to do any of the ATM maintenance. Either way, this is a great new revenue stream for your business.

mCig can either sell the machines directly to the merchant or to a third party provider who services them and leases them to the merchant (unless they decide to do the leasing and servicing themselves). Either way, mCig gets sales (or lease) revenue on the machines, a charge for the software and software maintenance and perhaps a portion of the transaction fees.

5. Customer Retention

When a customer is at your business, they may or may not have the cash on hand to make a purchase. If they don't, and there's no ATM in your building, they must leave to find cash. This creates an opportunity for the customer to change their mind and decide not to return to make the purchase. Having a convenient ATM in your building will prevent customers from leaving to gather the funds necessary to make a purchase.

Unless they have a crypto ATM, customer's with crypto currency may have to leave to get the cash, maybe to another dispensary that does have a crypto ATM.

Debunked Again!