In this era of cashless society, banking transactions have gotten a leap. In modern banking, Microfinance Banks customers are issued customized prepaid debit card for the purposes of cash payments and withdrawals.
Nowadays, Microfinance Bank customers need not visit the bank for loan repayments, Esusu mandatory deposits, opening of voluntary savings account, term & time deposits, and target savings. Microfinance Banks now takes business to their customers through technology and internet in real-time.
Technologically savvy Microfinance Banks have competitive edge over conventional Microfinance Banks because Point Of Sale (POS) helps banking customers save valuable time they would have expended in visiting the bank to transact monetarily.
This ease or convenience helps bank customers to make more money within these specific periods. This Point Of Sale outdoor service is applicable to traders, Small and Medium scale Enterprise.
Microfinance banking halls of technologically-inclined banks are rarely populated by existing and prospective customers in this current age.