What does POB stand for?
POB stands for “Point of BankingTM”, which is a payment card processing system that charges a small convenience fee to the cardholder, which is added to the approved transaction amount. This type of card payment processing enables retail merchants to accept card payments for free because the small convenience fee that the cardholder pays covers the cost of processing each transaction. Q. What is a Point of BankingTM Terminal? A: A Point of BankingTM terminal works very similar to a standard credit card machine. The difference is the terminal is loaded with a custom software program so it only runs PIN based transactions with a small convenience fee that the cardholder pays. This fee pays for processing costs so the merchant doesn’t have to pay this expense which increases the merchant’s profitability. Q.
