POS
Indian Bank offers Point of Sale Solution for enabling merchants to accept cashless payment for goods/services using all types of Debit/ Credit/Prepaid Cards.
Key Features of IB POS
- Cashless, hassle free collection.
- Next day settlement of fund.
- Rent free for IB i-freedom Prime Account holders/ Merchants with transaction volume more than 5 Lakhs per month.
- Variable rent based on transaction volume for others.
- No installation Charges
- No Transaction charges for petrol bunks.
- 365 days round the clock Comprehensive Training / Handholding/ support for the merchants.
- Customised transaction reports at free of Cost.
- POS stationery free of cost.
- No Late batch settlement fee.
Target customers
Any person can avail POS for collecting money through debit/credit/prepaid card,
Eligible Merchant List (list not Exhausted)
- Retail Merchants
- Proprietors
- partnership firms
- Trusts
- Corporate
- Educational Institutions
- Government Organisations
- Tax/charges collection agents
- Hospitals
- Supermarkets
- Shopping Malls
- Food Delivery Chains
- Ecommerce Delivery Partners
- Hotels
- Petrol Bunks
- Gas Agencies
- Goods Distributors/Suppliers
- Publishing and printing service provider
- Miscellaneous personal service provider
Easy Way to Avail POS:
- Submit POS application form along with KYC documents and necessary Agreement to the nearest Indian bank Branch.
- Enrolment of Merchant ID done at CO:DBD upon receipt of application forwarded by Branch and Zone.
- After enrolment. Unique merchant ID is created and terminal is dispatched to the merchant after validation.
- Merchant can track the despatched terminal using consignment number sent as SMS to merchant registered mobile number.
- After successful validation the terminal will be dispatched to the merchant location. The consignment number will be sent to the merchant registered mobile number.
- Bank will make installation call to the merchant upon receiving the terminal and activate the terminal through tele-training.
Benefits to the Merchants:
- Cashless Payment Acceptance.
- Hassle free reconciliation
- Eliminates physical cash handling.
- Reduces risk of counterfeit Notes.
- Next day settlement of fund.
- No Rental Charges for IB i-freedom Prime Account holders.
- Customised transaction reports at Free of Cost.
- No minimum transaction volume.
- Supply of POS stationery at free of cost.
- Exclusive Mobile App for Viewing Transaction summary, raising and tracking service request.
- No Transaction charges for petrol bunks.
Commercials:
- Cost of terminal is borne by the bank.
- No monthly connectivity charges for PSTN terminals.
- Flexible rental slab for merchants based on the volume of transactions.
- MDR charges for Debit cards are as per RBI guidelines.
- All charges as per the Merchant Establishment Agreement signed by you with the bank shall apply.
- 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.
- All charges are excluding taxes/ GST.
( Last modified on Oct 31, 2019 at 06:10:27 PM )