You are not tied to power or an obstructing cable. Your customers can pay everywhere and nowhere and - not unimportantly at this time - it is both safe and hygienic. Interest in mobile ATMs is skyrocketing and we understand very well why. Then there remains one equally important question: how exactly does such a device work? We explain it to you below!
We do not want to say that fixed ATMs are passé. That is simply not the case. But in some situations, a mobile card reader is just the perfect solution.
If you manage a home flower service, just to name a few. If you are a plumber. Have a market stall. Or when Your business normally does not need an ATM at all, but the situation happens to be such that you have to be able to accept incidental transactions. And maybe you have a restaurant and you want to have both a fixed and mobile copy available. After all, your customers can then choose: do they want to pay at a central point or rather at the same terrace table where they just drank their mint tea?
GPS and GPRS
You take such a mobile device with you everywhere you go. This is all possible thanks to its wireless character. A fixed version works with a cable, but this is missing from this portable version.
Instead, the system has technology that can be described as General Packet Radio Service , or GPRS.
This technique is a kind of expansion of the GPS network and is also found in mobile phones, among others. This allows your smartphone to transmit details quickly and effectively - and your mobile ATM can do that too, thanks to the presence of GPRS.
The result: your ATM works wherever your mobile does. Practically everywhere.
Pay with a mobile card machine
Any transactions take place in the way you are used to: just enter or enter, enter your PIN and voilà - you know it. When the customer has paid, your card reader will contact a so-called transaction processor.
That processor then transmits the signal to the two relevant banks: yours and the customer's. All relevant details are checked immediately, such as the PIN code, both balances and daily limits.
Mobile ATMs offer consumers the option of paying in several ways. Most variations process all passports, in addition to Maestro, for example, also American Express, Maestro and Visa. In addition, paying with Apple Pay and Android Pay is also possible.
Just like with a fixed ATM, customers can also pay in different ways: by entering the card, but also contactless.
Providers of mobile ATMs
Mobile ATMs come in different shapes and sizes. In some cases you buy a machine. That is a one-off (small) investment, but then the device is yours. A kind of rental construction is being set up with other providers. You then pay a fixed amount per month.
Providers of mobile PIN devices work with a principle that can be somewhat compared with taking out a mobile telephone subscription. In some cases you add an amount per transaction.
The exact amounts vary and vary by provider - from $ 0.05 to $ 0.30 per transaction. This construction is useful when you do not need the device often, but have to process relatively large amounts each time.
This is the case, for example, with a plumber who wants to give customers the option to pay immediately instead of sending and accepting an invoice.
It may also be that you have to process many transactions, each of which comprises a relatively low amount. It is then advisable to look at a provider who charges a percentage of the transaction. This is the case, for example, in the example of the restaurant mentioned above.
Some providers use their own online environment to which the customer's money is transferred. In the case of iTransact, this is the myPOS bank account. You will receive a debit card, so the iTransact account simply functions as a normal bank account. But keep in mind that it may cost money to transfer the amount from that account to your own bank account. With iTransact this costs $ 3 per transaction.