When your application for ALLPS-POS services has been approved, a Mercantile AET Bank Account will be opened in the name of your business. All the proceeds from the POS devices will first be settled into your Mercantile AET Bank Account before being transferred to your commercial bank account.
The Mercantile AET (Automated Electronic Transfer) Bank Account is a bank account that automatically transfers all the available funds on a daily basis from the Mercantile AET Bank Account to the commercial bank account of your choice.
"Same-day settlement" occurs because the transfers take place daily at 12:00, Monday to Friday, and at 07:30 on Saturdays. The funds received after these times will be eligible for transfer the following business day.
No. All the costs associated with the Mercantile AET Bank Account and the daily transfers are included in the ALLPS-POS monthly rental fee.
ALLPS-i is our advanced web-based front-end Card Point of Sale (POS) management solution that allows you to consult and review the information relating to all the card transactions (past and present) that you conduct with the ALLPS-POS devices.
ALLPS-i will assist you in your daily cash-up duties since it eliminates the tedious task of adding up your transactional receipts at the end of the day. ALLPS-i will provide the cash-up transactions and totals.
In addition, ALLPS-i offers unique and convenient management tools that enables you to view enriched transaction information and will thereby assist you in having ultimate control over the POS transactions conducted within your business.
We don't require a payment for devices, deposits, or installation fees and you don't have to enter into any long-term contracts with us in order to get started. All you have to do is complete the application form, supply the required documentation, and merely wait for delivery, installation, and training. An Intecon Consultant will be assisting you every step of the way.