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10 Top Reasons Why Sellers Lose Lots of Money During POS Transactions

It’s Tuesday, September 18, 2018. Time is 2pm in the afternoon. A client walks into a retail shop to buy merchandise. Purchase is concluded and it’s time to pay. Client brings out her ATM Card and motions for the POS device. Cashier hands over the POS device to the customer after inserting the ATM card into POS device along…

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Failed POS Transactions: How to Avoid Losing Your Hard Earned Money to Banks(Merchant’s Perspectives)

Is Your Bank Stealing Your Money?

Merchants (sellers, service providers, mall owners or retail traders etc) lose lots of money when using POS devices/systems to take payments for goods sold or services rendered. Some reasons why such losses occur include genuine, but time-bad and false chargeback claims, ineffective processes in controlling,reconciling and review of POS transactions on a daily basis and,  manual processing interventions (from…

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POS/ATM Transactions: Is Your Bank Stealing Your Money?

How to Avoid Losing Your Hard Earned Money to Banks

        Its Friday, 20th July 2018. 11a.m precisely. The July rains are slowly drizzling outside the premises of the branch of a highly capitalized Nigerian commercial bank, Mrs Onome Arikpo (not real names) walks into the banking hall and heads straight to the customer services personnel, “Please am here again for my POS matter, you asked…

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Are POS Transactions the Greatest Threat to Finances of Retail Businesses?

ARE POS TRANSACTIONS THE GREATEST THREAT TO FINANCES OF RETAIL BUSINESSES?

The quick answer to this question is a resounding Yes and No! Yes, if you belong to the retail business sector that grapple daily, with the nightmares of transaction failures and unending chargebacks by banks; and No, if you belong to the banking sector or other E-payment organizations involved in the POS management chain. However, our research and experience…

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