Cashless ATM or Point of Banking
Cashless ATM or Point of Banking services are a cashless payment allowing businesses to cut the cord with traditional merchant services.
Cashless ATM or Point of Banking services are a cutting edge cashless payment method that offer many advantages. Businesses can use them to cut the cord with traditional merchant services, offer as a customer service to reduce your merchant account fees, become an additional revenue center, or even a card payment system for industries who are prohibited from traditional merchant accounts to accept credit cards.
It is a traditional credit card terminal and PIN pad that is programmed to process transactions over the banking EFT networks rather than through the interchange network (governed by major card brands). Much like a regular Automated Teller does transactions are made in increments of $5 and the customer pays the transaction fee.
Simple! The customer swipes their debit card, enters their secure PIN, selects an amount to pay for their goods or services (in $5, $10, or $20 amounts), agrees to the service fee, and change is made by the cashier if necessary. The business owner can choose to be responsible for a portion of the service fee, have the customer pay for all of it, or even mark it up and turn their point of banking service into a revenue center.
Yes, a cashless ATM can be a revenue center for your business Bankcard Brokers can help you determine what the appropriate service fee would be in your area and if it makes sense to mark it up for your business.
Contact Bankcard Brokers to learn more about Cashless ATM or any other merchant solutions.