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