PIN Terminals - Point of Banking Terminals

Point of Banking terminals provide the perfect solution for retail merchants to accept all forms of bankcards without having to pay the expensive processing fees associated with having a traditional credit card processing terminal.

Rather than the merchant paying for the sales transaction by merchant credit card processing, the processing is paid by the consumer. The cardholder pays a small terminal convenience fee that is added onto the transaction total price. Few customers will decline the charge but they may inquire about the charge, when the cashless surcharge is implemented before approval of the final sale, the customer will be aware of the merchant fee. Most merchants limit their fee to less than $1.00 to avoid any angry customers.

Most businesses have the cashless terminal right at the register where their customers pay for products and services. This would be the ideal place to keep the point of banking terminal for a higher use rate.
Merchants are saving so much money with Point of Banking Terminals; they are making money on each and every transaction rather than paying a percentage of the sale for credit card processing.

Point of Banking machines essentially look like a traditional credit card processing terminal however the "cashless ATM's" provide the ability for merchants to process transactions with a 'customer convenience fee' which is almost identical to the surcharge from a standard ATM. The major difference between purchasing an ATM and a PIN Machine is that the point of banking terminal prints out a scrip receipt in which the customer pays for the merchants products or services provided. ATM machines allow customers to pay with cash, PIN Terminals allows customers to pay with a cash 'receipt.' Not only can the customer pay with a cash value receiptbut they can also get cash back from the merchant, only at the merchants place of business.

How PIN Terminals Work - Cashless ATM Processing

Your customers simply swipe their ATM, debit, credit or EBT card through your cashless PIN Terminal and follow the instructions on the screen. They will be prompted to choose which account to withdrawal from(if multiple), the dollar amount for the purchase and then asked for their personal security PIN code. Once they complete these steps, the PIN Terminal will send the transaction details to the processing networks which contacts the customers correct bank account for withdrawn funds approval.

Once the transaction has been approved by the bank, the terminal receives notification and it then prints a two part receipt. One receipt is for the customer to keep and the other the merchant should get a signature on their receipt especially if there is any cash back to the customer provided. It generally takes up to 3 business days for merchants to receive the funds electronically into their bank account.

PIN Terminals can be setup for merchant or customer use - this means it can be used by the cashier similar to a traditional credit card processing machine or it can be used and run by the customers prior to making the purchase.


Purchase a Point of Banking Terminal - Cashless ATM

VeriPhone 1000se PCI
The VeriPhone 1000se PCI is a highly-ergonomic pinpad that offers a fast and simply way to collect money from customers using the latest technology. This merchant upgrade meets new PCI PED security standards and is also a perfect replacement to merchant credit card processing. These are not encryped and can be used with any processor. (processor must encrypt before using.)

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