A point-of-sale terminal offered by Verifone can provide customers with the option to receive cash along with their purchase. This service allows customers to withdraw money from their checking or savings accounts using their debit card at the time of payment, eliminating a separate trip to an ATM. For example, a customer purchasing groceries for $50 might request an additional $20 in cash, resulting in a total debit card charge of $70 and the customer receiving $20 in hand.
This functionality offers convenience for customers and can drive increased foot traffic for businesses. By providing an additional service, merchants can attract customers who value the ease of withdrawing cash during their regular shopping trips. Historically, this feature arose as ATMs became more prevalent, and merchants sought ways to integrate this popular service into their existing point-of-sale systems. This integration streamlined transactions, benefiting both consumers and retailers.
