In the POS business service, the client or customer requests transactions like withdrawal, transfer, or bill payment and presents the debit card.
Next, the agent selects the type of transaction on the POS terminal device and enters the amounts, then, insert the debit card into the device and ask the client to secretly enter the four-digit pin.
Using the network, the General Packet Radio Service (GPRS) connects with the bank’s server to authorize the transaction.
When successful, it immediately prints out
the receipt. This process can be repeated for as many customers as
you can, as long as you abide by the transaction rules of your host
(bank). Click here to register and get cash backs instantly.
The Importance Of POS Business
With a Point Of Sale business services, banks now reach a larger demographic. Also, they offer more flexible and convenient access to existing and new customers.
In addition, they ensure the safety of customers and help reduce traveling long distances to have access to banking. Most importantly, it plays a big role in boosting financial inclusion especially to people in rural areas.
Also, the business has provided job opportunities and financial stability by helping the agent make money in the following ways; Commission; Banks pay agents commission based on the volume of transactions carried out on their behalf.
Service Charges; By rendering service to customers, you can also charge them a particular amount especially on bills payments, taxes, and subscriptions. Float; Depending on your cash management policy, you can also make use of cash deposits, net of withdrawal for your primary business.
By operating this business, you are not only increasing your stream of income, but you are also serving the needs of the people in your community.
A Point Of Sale business service is an additional way of getting income. Aside from your existing business, it is a way to expand service offerings and one of the best methods to cross-sell your products/services to walk-in customers.
The business needs to situated in places where there are no bank branches or busy environments with enough security measures in place. You are sure to increase your daily revenue if you get everything right.
Are you considering this business or are you already a banking agent? We would like to hear your thoughts in the comment.
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