Point of Banking
Point of Banking Systems are designed to work with your customer’s bank and ATM/PIN Debit cards, giving them access to their cash and allowing them to spend more inside your store. Point of Banking machines are similar to standard credit card processing machines. The difference is the terminal is loaded with a custom software program so it only runs PIN based transactions with a small convenience fee that the cardholder pays. This fee serves to pay for the processing costs incurred that way there are no processing fees to the merchant.
Not everyone qualifies for or carries credit cards with them. In fact, over 80 million consumers cannot qualify for a credit card, so they rely on their ATM cards. Adding a point-of-banking system to your store provides convenience for your customers because they don’t have to go to the bank to get cash, or use an ATM that charges them an outrageous fee and then their bank charges an additional fee on top of that, about $ 5.00 total. Please remember that banking regulations don’t allow a convenience fees to be charged to customers when using a traditional credit card machine.