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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