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TEXAS MERCHANT
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How It Works
Specifications
Loan Kiosk
Consumer Loans - PayDay Loan
The new loan kiosk easily obtains customer information for a
Consumer Loan, PayDay Loan, or Check Cashing in just minutes |
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Consumer - PayDay Loans
- The first time customer enters all the personal information that
is require on the touch screen (name, address, ss#. etc.). The
kiosk will retain all personal information on existing customers.
- The customer selects the loan type.
- The kiosk verifies customer's personal information.
- The customer
will fill out a check to be scanned by the kiosk, submitting the check for approval.
The repayment of the loan is via ACH.
- The customer reads all the documents and the kiosk captures the
customers signature.
- The loan is electronically processed for approval.
- The kiosk prints a copy of all the loan documents, ACH agreements, and
a check for the customer, or the funds could be put onto a
debit card.
- The customer cashes the check at the service
counter in the retail store, or the funds could be loaded onto a debit
card.
- The kiosk sends a copy of the loan documents to the
lender.
Check Cashing
- The first time customer enters all the personal information that
is require (name, address, ss#. etc.) The kiosk will retain all personal information on existing customers.
- The customer inserts the payroll check to
be scanned by the kiosk.
- If the check is approved the customer will
be instructed to take the check, along with an approval document to
the service counter in the retail store. The service counter
will dispense the cash to the customer keeping the check and a portion
of the approval document. The funds could be placed onto a debit
card.
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