Point-of-Bank Payments
for Cannabis Merchants
How it Works:
The most common payment acceptance model for dispensaries today!
Point-of-Bank – A “Cashless ATM”
A cashless ATM is very similar to a regular ATM where cardholders can request funds using their debit card and 4 digit PIN. However, instead of receiving cash, they will swipe their card through a pin-based terminal and receive a receipt from the merchant. The merchant will receive the funds via ACH, comparable to debit and credit card payment systems.
Cashless ATM transactions are considered ATM withdrawals. The card must be present, and the four-digit pin number must be entered correctly in order for the transaction to be approved.
Features:
- Receive a state-of-the-art Ingenico terminals (includes storefront and wireless units).
- Card present pin-based transactions effectively reduce chargebacks and fraud.
- Unlike a traditional merchant account, there are NO rates or fees for any Cashless ATM transaction.
- The Cashless ATM transaction cost is charged to the customer in the form of an ATM fee.
- There is peace of mind and sense of security for all parties involved as these transactions are handled in a cashless manner.
- Installation is easy. Simply plug the units in (or power on the wireless units) and you are ready to process.
- Transactions are discreet and shown as ATM withdrawals on your customers bank statements.