03 January 2018
The Bank continues to push for the POS merchant solicitation services to generate additional income for the Bank. Currently, the Bank has 10 POS terminals installed at Don Mariano Marcos Memorial State University in San Fernando, La Union (8 terminals) and Cebu GEMS Innovations and Career Development Center (2 terminals) in Cebu and Manila.
Number of transactions from the eight (8) terminals in La Union significantly increased from 196 transactions in 2016 to 478 transactions in 2017 (with ₱1.4 million in terms of amount), with ADB deposit increased to almost ₱40 million. On the other hand, the other two (2) terminals installed in Cebu and Manila decreased number of transactions from 55 in 2016 to only 30 transactions in 2017. However, the ADB deposit significantly increased to ₱1.4 million from the initial amount of only ₱30,000.
A POS (Point of Sale) System is a combination of software and hardware that allows merchants to take transactions and simplify key day-to-day business operations which streamlines retail operations by automating the process and tracking important transactions data.