Point of Sale (PoS)

A PoS (Point of Sale) machine is an electronic device through which a customer can make payment to merchant in exchange for goods or after provision of a service through debit/credit/prepaid cards or QR scanning. Merchant may issue a printed receipt / e-receipt for successful transaction.

Types of PoS

• Android PoS – PoS terminal having Android Smartphone functionality with full touch, printer & inbuilt camera. Works with GPRS/Wifi connectivity along with battery backup.
• GPRS PoS – PoS terminal with keypad and with printer. Works with GPRS/Wifi connectivity along with battery backup.

How to avail PoS:

• Submit PoS application and Agreement to the nearest Indian Bank Branch.
• Enrollment of Merchant done upon receipt of application recommended by Zone.
• After enrollment, Unique merchant ID (MID & TID) is created and terminal is dispatched to the merchant after validation.
• Installation call made to the merchant for activation.
• Two models are available for obtaining PoS viz.,
  • Rental model: Pay monthly charge till PoS is active (Monthly rent waived if Rs. 10.00 Lakhs transacted in a month through Credit Card)
  • Onetime Payment model: Pay once for purchase of PoS and enjoy nominal monthly fee till PoS is active (Monthly fee waived if Rs. 5.00 Lakhs transacted in a month through Credit Card)

Value added Services:

• Cash[at]PoS – Cardholder can withdraw cash upto Rs. 2000/- through PoS machine.
• QR[at]PoS – Payment acceptance through UPI-QR code generated in PoS machine.
• EMI[at]PoS – Credit card holders can convert the payment into Equated Monthly Installment (EMI) through EMI facility enabled in PoS machine.
• Sodexo acceptance – Sodexo supplied food cards acceptance in PoS machine.
• International card acceptance Facility – Foreign country Bank issued cards acceptance in PoS machine.
• Integration of PoS with Merchant software – PoS can be integrated with merchant billing software solution for payment collection.
• Android billing solution – In-app billing solution in Android PoS machine.
• PoS manager app/PoS web portal – Merchant can view transaction details, raise complaints, paper roll requests etc in the mobile app as well as web portal.

Commercials:

• No installation charges, paper roll charges, late batch settlement charges, low usage charges and duplicate/backdated statement charges for any location or type of business.
• Nil PoS monthly rent for IB-ifreedom Prime Current Account customers.

Advantages of PoS:

• Portable; Take anywhere inside India
• Eliminates the need to carry Cash
• Faster and Easier
• Facility for Manual/auto batch settlement of PoS transactions
• Eliminates man power for physical cash maintenance
• Quick confirmation/ transaction status will be sent to the merchant by SMS
• Consolidated transaction details are sent through SMS/e-mail

For more details, contact your nearest Indian Bank branch.