POS

What is a PoS (Point of Sale)?

PoS or EDC (Electronic Data Capturing) Machine as it is popularly known is a technological instrument provided to a Merchant Establishment (ME) to carry out the sale of goods or services to customers in a cashless environment. All the customer has to do is swipe his/her Debit, Credit or Prepaid Card.

Benefits

• Apart from increased sales, the merchants can avoid the risk of handling soiled/counterfeit notes.
• The response time for billing can be reduced.
• The risk of fake currency is totally eliminated.
• Credit risk can be minimised as the machines will instantly debit the customer account.

Features

• Debit/Credit Card Purchases on one simple and user friendly platform.
• Gain access to All the VISA/MASTER Debit / Credit/Prepaid Cards.
• Equipped with PIN security for Debit Card transactions.
• Both GPRS and PSTN enabled Terminals. (GPRS - General Packet Radio Service - Enables mobile - SIM card based processing of transactions. PSTN- Public Switched Telephone Network- works on ordinary telephone line)
• Detailed report to Merchants.
• Toll-Free Number for Machine Support
• No more handling cash.

Eligibility

• The merchant should have a current account with our bank with a satisfactory account operation, at least 6 months either with us or other Banks.
• The merchant should be in retail/over the counter trade and shall not be in the negative list of Visa/Master card for malpractices.
• The proposed turnover of the merchant through cards should be over Rs.1 Lakh / month.
• The merchant shall have a fixed landline/ ready to acquire a GPRS (Mobile) connection

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