A payment system is any system used to settle financial transactions through the transfer of monetary value, and includes the institutions, instruments, people, rules, procedures, standards, and technologies that make such an exchange possible. First National Bank (FNB) has understood the importance of efficient payment systems. The introduction of the FNB Integrated Solutions is a testimony in this regard. FNB Merchant Services Integrated Solutions integrates your point-of-sale (‘POS’) / till system with payment acceptance devices (‘PED’) used to accept a card payment. Aiming to deliver a best-in-class payment acceptance solution to all multi-lane retailers.
An integrated card payment acceptance system assists you with faster payment authorisation and acceptance times (on average less than four seconds per transaction) resulting in positive customer experience and shorter queues, reduction of fraud practices with real-time transaction monitoring via a personalised web portal, reduction in risk exposure from manual human interventions in the payment acceptance process as well as the ability to leverage loyalty and coupon / voucher-based incentives, secondary revenue opportunities (eg. airtime vouchers, electricity and gift cards etc) and new technologies (eg. Contactless).
Special benefits coming out of this product offering include security through the reduction on fraud and risk exposure, it eliminates transposition errors between payment devices and the point of sale solution, automated reconciliation reporting reduces administration requirements and enhances accuracy of the settlement reconciliation mark-off process, it integrates with the point-of-sale solution for greater integrity of receipting reconciliation and product / stock management and it also delivers a faster check out experience at the point of sale.
You also get free device installation, free fraud training for your staff, free device training, free tally rolls and free onsite technical support.