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Why do businesses install cash dispense terminals? Figure out what the benefits are

Some entrepreneurs and trade objects in the regions today are increasingly installing terminals with the possibility of issuing cash. This means that customers can withdraw cash directly at a store, cafe or other service point. This service is in demand where there are no bank branches or ATMs nearby. But why does a business need it? We understand.

The possibility of issuing cash from a card at trade and service organizations appeared several years ago. Since the launch, the service has become widespread, especially in the regional settlements of Belarus. Moreover, the benefits were felt both by customers – visitors to the stores, and by the business owners themselves.

About 2,000 organizations have evaluated and actively use the bank acquiring service with cash withdrawal from Belagroprombank. Most of these outlets are located outside the city. The service is popular with buyers all year round, but especially during the summer season.

For business, the installation of such a terminal is beneficial due to the appearance of an additional service. It increases customer loyalty, has a positive effect on business turnover and, as a result, contributes to the development of the shopping facility as a whole.

The entrepreneurs themselves who connected the service told us about the advantages of Belagroprombank acquiring with the possibility of cash withdrawal.

For example, the director of two grocery stores in the Grodno region at the beginning of 2022 connected the bank acquiring service with cash withdrawal from Belagroprombank. According to him, cash is withdrawn at the cash desks of his stores not only during the periods of salary and pension transfers, but also on ordinary days. The entrepreneur believes that this is a very important social service for the population. But it also benefits the development of his business.

– Customers who know about the cash withdrawal service in my stores actively use it. We gave out money already in the first month after connecting the service. Within a few months, the number of clients increased noticeably. Then I felt the benefit: due to the influx of customers who want to withdraw money, the volume of purchases made by them also increased. In addition, the cost of cash collection has been reduced. It’s nice that the bank charges a very small fee for the provision of the service.

Another client of Belagroprombank, an entrepreneur from the Minsk region, who connected the cash withdrawal service through terminals in his stores, said:

– This is the benefit for my business: the frequency of collections is reduced, the delivery of proceeds to the bank is simplified. More people certainly come to such stores where cash desks with the ability to withdraw money from a card are installed. They not only withdraw cash, but also buy goods. Therefore, it is beneficial to everyone – both customers, and the store, and the bank. By the way, the terminals in our stores also read mobile applications, so customers can receive banknotes simply if they have a smartphone.

How can a business connect a bank acquiring service with cash withdrawal from Belagroprombank?

Step 1. Purchase terminal equipment from one of the suppliers of Belagroprombank.

Step 2 Leave an application on the website of Belagroprombank (when filling out an application, you must select the type of acquiring – “Standard acquiring”) or contact the bank’s sales point. Agree on the terms of service and conclude an acquiring agreement with cash withdrawal.

Step 3 Within 10 working days from the moment of registering the terminal, you can start using it.

When can I start dispensing cash at the cash desks of retail outlets?

Activation of the service will take up to 10 working days. During this time, an application for connecting the Belagroprombank service will be processed, as well as terminal equipment with the possibility of cash withdrawal will be installed and configured.

How do customers find out where they can withdraw cash from the card?

Points of sale where there are terminals with the possibility of issuing cash, a bright purple sticker is placed. It can be located at the front door or in the checkout area. Stickers are provided by Belagroprombank at the time of signing the contract or when installing the terminal.

How much can be withdrawn from the card at a time?

The minimum withdrawal amount for one transaction is 10 rubles, the maximum is 5 base units (185 rubles). Issuance is made by cards of payment systems BELKART, VISA, Mastercard, MIR.

How to withdraw money through the cashier of the store?

To dispense cash, the cashier:

  1. specifies the amount of cash withdrawal from the client;
  2. checks whether there is enough money in the cash desk to carry out the cash withdrawal operation;
  3. carries out the operation of issuing funds at the terminal and at the cash desk.

At a point of sale, unlike an ATM, it will not be possible to check the balance of the card, so the buyer should make sure in advance that there are enough funds on the card.

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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