We’re all familiar with the original financial services kiosk–the bank ATM, but today there are several different types of kiosks that support the finance industry. Financial services kiosks enable users to pay bills, transfer cash, convert currency, or handle other financial transactions. The purpose behind these kiosks is to deliver convenience. And while many of these transactions can be completed online, an online application or…
Read moreIs cash dead, or is it still a viable way for your customers to pay for bills, goods, and services? If you are like most business owners, you are trying to identify the best methods to collect payments amidst a rapidly changing consumer environment. In response to the COVID-19 pandemic, the U.S. Centers for Disease Control and Prevention (CDC) encouraged businesses to use…
Read moreLOS ANGELES, Calif., October 9, 2019 — Olea Kiosks of Los Angeles welcomes the Franklin Bill Pay kiosk as the newest addition to its self-service line-up. This secure and versatile kiosk is built to handle payments of any kind, anywhere. The Franklin Bill Pay kiosk has the ability to accept and dispense dollar bills, dispense coins, read checks and take credit card payments. Because it’s…
Read moreCash Provisioning For Bill Pay Kiosks Although it remains to be seen if the use of cash as a form of payment will eventually disappear, don’t expect it to happen any time soon. Consumers used cash in 26 percent of transactions last year, according to the Federal Reserve’s 2019 Diary of Consumer Payment Choice. Although that’s down from 30 percent in 2017, it’s…
Read moreA bill payment kiosk improves revenue and reduce labor costs, but only if deployed correctly. The Bill Pay Kiosk, Underbanked and Unbanked There are all sorts of situations where a company needs to accept regular payments from their customers. Utility payments, cellphone bills and store credit cards are just a few of the situations where customers make regular payments. And if one…
Read moreAs long as a meaningful portion of the population is underbanked, self-service solutions will drive positive ROI for billers, deployers and their hosts In Part I, we examined the various business models that can undergird deployments of bill-payment kiosks. Here, in Part II, the focus is on how to be successful with the deployment, whatever model is employed. Once the modus operandi of…
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