OBERLIN, Ohio The National Association of College Stores has hired Diebold Inc. as an automated teller machine franchise broker.
Diebold will supply ATMs to stores in the $8.9 billion sector. The goal is to reduce bounced checks, credit card fees, and checkout times while increasing convenience, flexibility, and safety for student customers.
Members of the store association will lease space to Diebold for the installation and operation of cash dispensers and pay Diebold a monthly fee of $84 to operate and service the ATM. In return, the stores are to get a share of each withdrawal surcharge, based on monthly transaction volume.
College stores are a natural fit for an ATM franchise program because of their convenient, on-campus locations and ready supply of students looking for cash, said Brian Cartier, chief staff officer of the store association.