Innovative Payment Processing Systems in Use by Josef Toth

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.

In order to provide attractive benefits of making payments through ATM cards, merchants have adopted state of the art payment processing systems that can process ATM cards payments.

Merchant's Benefit on Such Payments through Cashless ATM

Merchant's can make money on each transaction made by ATM cards through Cashless ATM's, like traditional payment processing systems they don't have to pay processing costs for every transaction. That means added profits for merchants or storeowners using such Cashless ATM Machines.

Benefit's of Customers on Payments through Cashless ATM

Making payments through Cashless ATM's or Scrip ATM's are the most convenient way. Customers can get cash back when making purchases. For this convenience they have to pay a nominal processing fee (usually less than the processing cost incurred in Credit Card payments). The customer has to slide their ATM card through cashless ATM and then they have to enter their PIN (Personal Identification Number), after verification customers get a slip/coupon that can be redeemed at stores.

Security Concerns in Cashless ATM's

As the name suggests, Cashless ATM's hold no cash, so there is almost no risk. There is no need of any security personnel to guard the ATM Machine (as in case of conventional ATM's used by Banks that provides facility of withdrawing cash). So, it is secure for both merchants as well as customers. Even if you lose your ATM card, no one can use it without the correct PIN. That means, only authorized people can use Cashless Scrip ATM's.

What Kind of Payment Processing Systems Merchants Are Using Nowadays?

Nowadays, different kinds of Cashless ATM's are in use. Merchants have the possibility to choose from a wide variety of Cashless Scrip ATM's. They can select from Counter Model, Wall Unit, or normal Cashless ATM's that resembles ATM's used by Banks.

Please check out the new book by Josef Toth, ATMs for Amateurs. 

Cashless ATMs - Reducing Your Worries While Travelling Around US by Josef Toth

Carrying cash is among one of the major worries of people while travelling. They need cash at each and every place during their journey. In order to purchase journey tickets, other travelling expenses like buying food stuff, magazines and book people need cash. This is really a great worry for frequent travelers.

However, you don't have to worry about carrying cash anymore, if you are travelling to any part of United States. Most of the merchants and stores have adopted a new tradition of receiving payments from customers. The new concept of Cashless ATMs has changed the way people used to make payments. Now you don't need to pay in cash when you purchase your favorite Pizza from any of the popular food chains in United States.

Use of cashless scrip ATMs by merchants on most of the departmental stores, gas stations, and food chains has simplified the process of making payments. This new phenomenon of Cashless ATMs is not only popular in major cities and metropolitans. You can find all stores and gas stations on highway equipped with modern cashless ATMs. That means you don't have to worry about cash anymore while you are travelling through state or national highways.

The popularity of Cashless ATMs has also attracted nightclub and bar owners to install them at their place. That means you can enjoy the excellent nightlife with music, dance and total fun without being worried about the payments. You can do it through your ATM card.

You must be wondering what is there in a Cashless ATM machine that changed the whole scenario of shopping and making payments. The reason is the dual benefit provided by these Cashless scrip ATMs to merchants as well as customers.

Installing a Cashless ATM requires less investment and makes you eligible for receiving payments from a wide array of Banks. After installation of Cashless ATM at their place merchants don't have to pay heavy processing fee (as charged in case of receiving payments by Credit Card). They have to pay a fixed amount every month for unlimited number of transactions. Even, customers love the convenience of using Cashless ATMs. They have to pay less convenience fee if compared to the heavy processing fee by Credit Card companies.

Cashless ATMs are very common in United States. Most of the stores have adopted them and rests are also adopting the trend. That means when you will be travelling to different part of United States for touring or business purposes, you don't have to worry about carrying Cash anymore.

Also please check out the new book by Josef Toth, ATMs for Amateurs

ATMs for Amateurs by Josef Toth

If you're stuck in a dead end job or career, check out ATMs for Amateurs by Josef Toth and get all the information you need to start in a new career in ATM sales and marketing.

Buy the book here. 

Cashless Transactions: Need of Today's Consumer and Merchant by Josef Toth

Need of cashless transactions in US was realized a long time back. The reason was obviously the ease of making payments and potential benefits for both consumers and merchants associated with them. With the introduction of this advanced and beneficial payment technology, attitude of today's consumer's towards making payments has completely changed. Nowadays, people are primarily dependent on their credit or debit cards to pay for any product or service they buy.

People prefer to go cashless nowadays, be it for shopping, movies, eating or even for traveling. But why is it so? Reason is self explanatory and well-understood by common man. It is always risky to carry cash. However, when it is time to shop something very costly, it is not a wise step to carry such a huge money amount. Moreover, sometimes it is not even possible to pay cash, when it is matter of buying a huge vehicle like car or something else of a very high cost.

In such conditions cashless transaction is a convenient and above all safe payment mode to opt for. Cashless scrip ATM's have been installed everywhere, be it departmental stores, luxurious clothing and shoe showrooms, vehicle showrooms of all types, multiplexes, restaurants or hotels. Moreover, in parking lots too cashless scrip ATM's have been installed. This lets people to pay with the help of their debit cards and offer them an opportunity to get rid of the risk associated with carrying cash.

As far as the benefit of merchants is concerned, it is really worth for them to accept payments through cashless ATM's, rather than credit card processing machines. If you are a merchant who accepts or has ever accepted payments from customers through credit card processing machine, you must be aware of its drawbacks in terms of paying huge credit card processing fee. However, it is not the case with cashless ATM's. Also, as compared to credit cards, customers use their debit cards more freely, that helps merchants in increasing their sales and profits more and more with time.

Above discussed facts clearly confirm, why cashless transaction are getting widely accepted day by day. For consumers, it has been found the best payment mode ever and for merchants, it has been found a cheep and easy payment acceptance method that has left the age of credit cards processing machines back. With such a rapidly increasing acceptance around the globe, it has become a need of modern consumers and merchants. Therefore, go cashless, go free of worries.

New ATM Technology by Josef Toth of I Solutions

At a recent Consumer Electronics Show (CES), Diebold used the opportunity to roll out new technology fit for the 21^st Century and took advantage of the public’s affinity for smartphone technology.

At the Consumer Electronics Show (CES) in Las Vegas the firm showed off a new "conceptual ATM interface". The “conceptual ATM interface” has a similar platform to smartphone technology. Its touchscreen, navigation and controls mirror those of smart phones.

Consumers can now use their smartphones to complete many of the transactions available on the ATM. One exciting new technology is the cardless withdrawal. Customers scan a Quick Response (QR) code on the ATM using their phones. According to Bank Innovation, here’s how a QR code works.

“A retail customer goes to a designated, bank-branded app to indicate that she wants to take out cash from an ATM. The app authenticates the consumer. When the customer gets to any ATM in the system, she scans the onscreen QR code with her mobile device. The QR code relays the customer’s location to the server, and the server matches the customer’s request with the ATM location and dispenses the requested cash.”

Diebold believes that by using this system a number of security risks are reduced. For instance, the chances of losing their card, or having it stolen, are reduced significantly by using this system.  The chances for skimming are also reduced. Skimming occurs when thieves are able to use software to swipe data, including the PIN, from ATM cards. Because no card is used, that threat is significantly reduced.  This system also increases privacy in general because personal information is entered on the phone rather than into the ATM. Most skimming schemes involving installing software that reads information entered into the ATM.

The firm is also developing a payment feature which allows customers to pre-approve future payments to third parties. The sender enters payment information along with information about the receiver of the payment and the time and date of payment.  Once all that information is confirmed, the payment recipient receives a one-time code. That individual is able to use that code at an ATM or branch to receive money.

Another exciting development is the use of cloud-based services. Cloud based services allows for significantly reduced hardware and electricity costs. Cloud based services use the internet to store information, and thus, they don’t require bulky computers.

Frank Natoli, chief innovation officer at Diebold, said, “Mobile devices are driving user experience expectations in all facets of commerce. It was only a matter of time before the familiar multi-touch interface style made its way to the ATM. With the burgeoning buying power of the Millennial generation, Diebold envisions this technology will further influence user experiences at the ATM."

Check Cashing to Card Better Alternative

Check Cashing to Card better alternative

by Josef Toth

The most important key in developing a good prepaid product is to develop a better alternative then the services being offered by check cashers.

A typical check casher in the under banked world has a tough experience and high fees. Here is an example.  As quoted from the Green sheet by DeDios, a native of Jalisco, Mexico.

“Every Week I would go with my father to the check cashing outlet to get his compete paycheck cashed,” she said. “Then we would go somewhere else to buy money orders. And we would give those to the utility companies. Sometimes we’d have to drive there to make the payments.”

“And then we would go to a local grocery store that ha a money transfer service. And that’s when we would use to send money back to my grandma back in Mexico. So that was an expensive venture.”

Therefore, we at I Solutions feel our check to card program when packaged together with our Prepaid and Bill payment is a superior and economical solution for the under banked population here in the United States.

Our Program allows customers to cash Payroll and government checks to a Prepaid Card at reasonable rates. In addition, customers can pay their bills and use international cross border payment systems to lower their fees tremendously from the old system of doing this.

The Avg customer is saving over $792 annually from using these types of systems.

Please visit us at www.intel-solution.com

ATMs for Amateurs By Josef Toth of Universal Service ATM

Are you stuck in a dead end job? Are you looking to make your own opportunities? Do you have an entrepreneurial spirit? If you answered yes to all those questions then take a look at the opportunities available in the sales and management of Automatic Teller Machines (ATMs).

In a new booklet due out this fall entitled ATMs for Amateurs by Josef Toth, Chief Executive Officer of I Solutions, all the opportunities available in ATM sales and management are explored.

“ATMs are a modern day gold rush with the new technologies,” said Toth. 

I Solutions provides consulting, sales, and marketing services for ATM machines.  Josef Toth Joe has over 20 years’ experience  in non-cash payment methods, ATM machines, Credit Card, Check Cashing and Bill Payment Methods. Josef Toth has serviced  businesses of all sizes, including retail, mail order, and Internet. From mom and pop Business to well-known national chains like Walmart, and Shell oil, he services accounts nationwide.

Whether you have tens of thousands to get started or you don’t even have ten bucks, there are opportunities available in ATMs. Are you making six figures? Would you like to? For an investment of less than three dollars, you can find opportunities to do just that with ATMs for Amateurs by Josef Toth of I Solutions.

ATMs for Amateurs is scheduled to be released later this winter.