Point of Banking
The cashless ATM.
Point of Banking System – Cashless ATMs from Painless Processing
Merchant account costs and ACH fees add up for small businesses, and it’s impossible for some owners even to utilize these services. Point of Banking (POB) systems are a worthwhile solution for reducing expenses and helping businesses process credit cards without merchant accounts. These operate like ATMs but are cashless, giving customers the convenient experience they expect and pays back the merchant at the same time.
Painless Processing offers cashless ATM processors for businesses who need to accept credit card payments. We pair merchants with the right POB system for their business, assist with the install, and provide support to ensure efficient and reliable transactions.
Point of Banking Solutions for Merchants
With a POB, businesses can accept credit cards without merchant accounts. In some instances, it’s not easy for owners to obtain one of these accounts, as they are costly. Cashless ATMs are an easy fix for many merchants as they are small, resemble traditional credit card readers, and include a convenience fee for all transactions. It takes only four steps to use the ATM and complete a sale or cash withdrawal.
STEP 1: Merchants ring up the purchases, or set up a cash withdrawal transaction.
STEP 2: Customers swipe their debit or credit card on the POB machine. They walk through prompts such as the desired amount of cash back and then enter their 4-digit PIN code (required). They are charged a convenience fee for the use of the machine.
STEP 3: The merchant’s register prints two receipts. One that verifies funds were transferred to the merchant’s account, and the other for the customer’s records.
STEP 4: If a purchase was made, the sale continues as usual. The customer receives their change, their cash back, or withdrawal. All merchants have to do is keep a record of all transactions.
The Advantages of Cashless ATMs
Setup and use of a POB terminal is much easier than installing a traditional ATM and offers a range of benefits. Small and compact, they only take up a few inches of space on the counter. All merchants have to do is plug the machine in and follow the setup instructions, which Painless Processing is happy to assist with. Once connected, merchants never have to send customers to an outside ATM, making it easier to retain business.
Once the customer has used the system, the money is instantly transferred to the owner’s bank account, negating any batch timelines. The convenience fee more than covers ACH transfer costs. Beyond recording transactions, our POB systems offer real-time reporting capabilities, connecting merchants with valuable data including time of purchase, transaction amount, products purchased, and more. This allows owners to adjust their business based on customer habits and take card payments without ever setting up a merchant account.
Fraud and chargebacks are all but eliminated since customers must enter a PIN code to complete their purchase. Most fraud is committed without the use of a 4-digit code, so merchants can feel at ease knowing the purchases are all but guaranteed to be completed.
Contact Painless Processing for Cashless ATM Systems
Begin accepting debit and credit card payments without a merchant account today. Apply for a POB system with our company, and you’ll enjoy personal assistance from one of our agents.
How a point of banking terminal benefits your business.
Easy to Use
Plug and process set-up with easy to use instructions.
Avoid Bulky ATM's
Eliminate taking precious floor space or sending customers out of your store to nearby ATM’s.
Funds deposit immediately and clear within 48 hours.
Reporting & Support
All terminals have full, real-time reporting capabilities, full back-end support and assistance.
No Merchant Account, No Problem
Perfect solution for merchants who cannot obtain a merchant account.
Eliminate Chargebacks & Fraud
4-digit pin code required to complete a transaction.
This program is a direct push-pay system and transactions are processed in real-time.
ATM Machine or Cashless ATM?
We’ll let you decide.
A cashless ATM works just like a cash transaction.
Merchant rings up the sale of goods.
Customers swipe their card, follow the prompts, and complete their digital ATM withdrawal by entering the 4-digit pin code associated with the card being used.
A receipt is printed that verifies the cash withdrawal was completed and funds were sent to the merchant’s bank account.
Merchants keep the receipt for accounting record and complete the transaction as if it were a cash purchase providing change if necessary.
Want to know more about cashless ATM's?
Accept card transactions without a merchant account.
Known as a cashless ATM, point of banking works just like an ATM. The only exchange of cash, if any, is the change given back to the customer. Having a cashless ATM at your register avoids the need for a big, bulky ATM in your store taking up valuable floor space, or having to send the customer out of the store to go withdraw cash from the nearest ATM. For merchants that cannot get a merchant account for their retail store because of the products or services they sell, don’t have the credit or financial position, or have been blacklisted by the Visa or MasterCard brands; this is the closest solution you will find to a real merchant account.
Ready to go cashless?