What is POB? This is “Point of Banking, a payment card processing system developed to charge a small convenience fee to the cardholder, which is added to the approved transaction amount. Thanks to such system, retail merchants are given an opportunity to accept card payments for free. The thing is that the mentioned small convenience fee covers the transaction processing costs.

The operation of a POB terminal is similar to that of a standard credit card machine. Only, this type of terminal is loaded with a custom software program. There’s no cash inside. Thus, it’s used only for Personal Identification Number or PIN-based transactions with a small convenience fee charged to the cardholder.

As for customers, they can feel more secure with this type of transaction processing. Why? They keep control over their card and enter their PIN when completing the transaction. POB machines run transactions in whole dollar amounts that’re increments of either 5 or 10. The cashier, in return for the receipt, issues change to the customer as of the customer has presented cash.

By the way, a credit card machine can use Point of Banking too. Merchants, who have both types of terminals, can save processing costs with POB. When it comes to monthly fees, the processor requires a monthly maintenance or batch fee.

Are you a merchant trying to find alternatives in high risk credit card processing? Why not go with Point of Banking (POB) and use it as your credit card payment processing service? Just turn to a respectable payment processing company if you’re interested in POB payment processing and you’ll get all you need for your business.

POB payment processing provides an alternative high risk credit card processing for merchants that saves them some technical difficulties associated with chargebacks and revenue lost on transaction fees.

As to the difference between POB and regular credit card processing, be aware that the customer shoulders the transaction fee as opposed to the merchant. As a result, merchants aggregate savings on each sale as opposed to paying a percentage fee.

As for setup, the Point of Banking program is the most user-friendly option to use for accepting bank cards. You can place a Point of Banking machine anywhere with a business location.

Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants to help them with POB payment processing and more. His passions include producing music and traveling.