Ahhh…Remember 1992.
In 1992, the payphone business was doing a lot of people very well. The internet hadn’t even made its way into mainstream America. A payphone distributor was living high on the hog. Put a machine in, split the revenue and all is well. The only thing you had to sell was a few square feet, putting in a phone line, and split revenue with the location.
Then…..Remember 1994
In 1994, cell phones started to take off. Instead of looking like a unit needed to call in troops to the front line, the designs became sleeker, smaller, and more attractive. The payphone business had peaked and the decline was beginning. Some people in the payphone business were smart enough to see this and realize they needed to do something. Many of them looked to the ATM. What the ATM did was leverage the relationship with the location, took advantage of the phone line that was already there, and it provided an income stream that they were familiar with. The ATM, however, took more work. There was the loading of cash, the programming of the machine, increased reporting, and definitely more work for the money. Distributors that jumped on this are doing well today. Those that did business as usual, that didn’t look outside the box, went down like the Titanic.
We are sitting on the next 1994. We can see transaction counts flattening out. We can see interchange being reduced. We can see the writing on the wall. At Tranax we saw it long ago and aren’t waiting around to see our distributors sink. We aren’t just throwing them life supports either….Tranax is building a bigger and better platform for our distributors to continue to grow and flourish.
If you haven’t learned about CHECK CASHING, GIFT CARDS, BILL PAY, or other self service products, then you need to. We have partnerships with industry leaders that will separate you from your competition, give you new lines of revenue, and continue to take you into the next century.
If you haven’t looked into it, you need to, before it’s too late.
Now is the time to take advantage of the blue water that is self service.