Q. What is an Atm Scrip Machine?
A: A scrip machine works like a traditional ATM except the Scrip Machine holds no cash. The Scrip machine prints out a receipt for preset dollar amounts (that the merchant controls) and the cashier redeems it for products, services, and/or cash back for the customer. This allows you to offer your customers the convenience of ATM service without the expense, security risks or the refilling of cash like traditional ATMs. It's truly a hassle free way to offer card payment options and cash back to your customers!
Q. How is Scrip Dispensing different?
A: A scrip dispensing atm gives the customer a two part receipt for redemption at checkout to pay for products, and/or services. The customer keeps the customer portion of the scrip receipt for his/her records, and the merchant keeps the merchant portion for their records.
Q. Can I really increase my sales by offering a Scrip ATM?
A: Yes. More people carry ATM, debit, and bank cards than own a credit card. Because of this, the industry is projecting the number of ATM machines in the United States to double by 2005. The best part is people will spend more if they have the option of using their debit cards. Also, scrip machines pay you each time it is used.
Q. As an ATM Scrip Machine owner, what are my responsibilities regarding installation?
A: We ship our scrip machines pre-programmed and ready to use. All you have to do is plug in the power cord to a standard wall plug, and connect the machine to your phone jack and you're ready to offer ATM services to your customers.
Q: Do I need a dedicated phone line?
A: No, you can use your existing line. Just make sure your phone line is not in use when a customer is using your ATM scrip machine. Normally, business phones aren't tied up for long periods of time so this set up works just fine in most cases.
Q: Do I have to pay for paper supplies?
A: No. We supply paper for as long as you're processing with us, through our optional machine replacement warranty program. Please call for details...
Q: Is there a monthly fee?
A: Yes. there is a monthly maintenance fee that runs $10.00 per month and provide a hard copy printout that is mailed to the machine owner each month for the previous month's transactions, as well as toll-free tech support, paper supplies, machine replacement warranty (including shipping, both ways!) for as long as you're processing through us in the event the machine ever breaks down due to normal usage. Physical damage to the machine is not covered under this warranty, but would be covered by the merchant's business insurance provided the machine has been added to the policy.
Q: Do I have to provide insurance for this unit?
A: We do not require you to have insurance coverage on your machine since you are buying it and own it outright. However if you carry an insurance policy on your business assets, we recommend that you call your agent and add you machine to your list of insured assets.
Q: Is there any signage provided?
A: We provide decals for your business' doors, a 3-sided hang down Atm sign (to hang from the ceiling above the machine in your location), and a window sign that says "Atm Inside". The machine comes with a countertop kiosk that also has signage on it. Banners, florescent Atm signs, standup kiosks, and other promotional materials are available at an additional charge.
Q: How fast do merchants get their funds?
A: The funds that merchants pay out when honoring scrip recepts from the machine will be deposited into their bank account in about 3 business days (not counting weekends, when the banking industry is idle) through the Federal Reserve where all funds are FDIC Insured. The profits made from the surcharge will be deposited into the merchant's account once a month, for each previous month's transactions.
Q: This is an Atm machine, so why doesn't the merchant get their funds the next day?
A: Actually, Cashless Atm machines are POS terminals, not Atm machines (even though they work like an Atm for the public). Because the banking industry considers these terminals to be POS machines, they treat transactions as though they are POS transactions, which have always taken several days to reach the merchant's bank account, just like it does when a business uses a regular credit card machine.
Q: How much do I earn on each transaction?
A: That depends on the amount you decide to set your surcharge at. The amount above the merchant (or machine owner) buy rate is what the profit will be on each transaction.
Q: What is the machine's power requirement?
A: Standard 110 volt outlet within 10 feet of the unit.
Q: When transactions are dialing out, does this result in long distance charges?
A: No. Our machines dial-up a tollfree number so you don't have to pay any long distance charges
Q: Will the unit be permanently secured?
A: No, with no theft element, it is not necessary to secure the unit to the wall or floor.
Q: What happens if the machine runs out of paper?
A: The machine issues a warning when the paper supply is low. When this happens, you will still have plenty of time to replace the paper roll. If the paper runs completely out, the machine will take itself out of service and refuse to process any transactions until the paper is replaced.
Q: How much is the surcharge that the customer pays when using the machine?
A: The average surcharge amount is $1.75 or $2.00. Gentlemen's clubs, and other specialty locations, sometimes charge $3.00, or more. The merchant decides what the surcharge amount will be on their machine.
Q: Once I sign up, how long before I can expect my equipment?
A: You can expect your scrip machine to be delivered in about 7 to 10 business days after we receive payment for the machine, along with the necessary paperwork.
Q: Do you have a unit that will work for our drive thru windows?
A: Yes. Pin Pads are available with long cords so your drive through personal can hand the unit out to the customer so they can enter their PIN number with convenience without getting out of their car. Ask for a quote.
Q. What About Chargebacks?
A: Charge backs are not an issue with cashless atm machines, since they only performs PIN based transactions.
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