ATM Processing

Innovative Payment Processing Systems in Use

New age payment processing systems are among the most essential requirements of merchants and shop owners. The latest trend in shopping and buying pattern of consumers indicate that nowadays people want to pay for the stuff purchased through their ATM Cards rather than paying in cash.

According to analysis of payment patterns of modern consumers, it is clearly visible that they prefer making payments through ATM Cards only. Rate of payments made through Credit Cards have decreased.

READ MORE » ATM Processing

ATM Processing

Merchants - Here's How You Can Reduce Credit Card Processing Fees With an ATM Machine

If you are a merchant that accepts credit cards, you more than likely get charged a transaction fee every time someone pays you with a credit card. On top of that, you probably pay a processing fee of between 1% and 3% of the purchase.

If your business does even average credit card volume, when you add in the "miscellaneous fees" that many credit card companies charge you, like statement fees, service fees, etc., you could easily end up paying $500-$1000 or more just to accept credit cards from your customers.

One way of reducing the monthly credit card processing fees that you pay to your credit card company every month is by having an ATM in your business.

With an ATM machine, there are no processing fees like there are with a credit card terminal. Instead, you earn money every time someone gets cash from your ATM. The owner of the cash machine gets to keep the transaction fee (usually around $2.00 per transaction) or surcharge profits from the machine every month.

How does having an ATM reduce credit card processing fees?

People need cash. And instead of standing in line at the bank the way they used to, they get cash from privately-owned ATMs when they are doing things like shopping, getting gas, or running other errands.

READ MORE » ATM Processing