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Mastercard and RCB JV Allows Cash Withdrawals at Cyprus POS Terminals

July 27, 2020 / Verdict Staff

US-based RCB Bank has partnered with payments giant Mastercard to roll out new cash withdrawal service at point-of-sale (POS) terminals in Cyprus. Dubbed Cash@POS, the solution enables consumers to withdraw cash inside a shop at an RCB POS terminal. Cash@POS is said to be a cash withdrawal service, which will serve as an alternative to ATMs. Consumers can use the RCB Cash@POS service to withdraw small amounts of cash while they are shopping. They can do so by tapping their debit card on the POS machines during purchase and withdraw up to a maximum of €100, subject to the merchant’s discretion. The new service will also benefit the merchants as it does not have any cash handling fee or transaction fees associated.