A PoS machine is a point of sales machine 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- Terminal having Android Smartphone functionality with full touch, printer & inbuilt camera. Works with GPRS/Wifi connectivity along with battery backup
• Handheld GPRS PoS- Terminal with keypad and with printer. Works with GPRS connectivity along with battery backup.
• Digital PoS – Terminal with keypad and without printer. Works with GPRS connectivity along with battery backup

How to avail PoS:

• Submit PoS application form along with KYC documents and necessary Agreement to the nearest Indian Bank Branch.
• Enrolment of Merchant done 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.
• Installation call made to the merchant for activation.

Two models are available for obtaining PoS viz.,

Rental model: Pay as you use

Outright Purchase model: Pay once and enjoy PoS facility for lifetime

Value added Services:

• Cash@PoS- Cardholder can withdraw cash upto Rs.2000/- through PoS
• EMI on PoS- Credit card holders can convert the payment into EMI through EMI facility enabled at PoS
• Amazon pay- Customers make payment using their Amazon pay wallet
• Sodexo acceptance- Food cards acceptance
• International card acceptance Facility-Foreign cards acceptance
• Integration of PoS with Merchant software- PoS can be integrated with merchant billing software
• UPI QR on PoS- Payment acceptance through QR code displayed in PoS
• Android billing solution: In-app billing solution in Android PoS
• PoS manager app- Merchant can view transaction details, raise complaints, paper roll requests, etc.

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 Rent for IB-freedom prime customers
• PoS at free of Cost for MSME traders with exposure more than 25 lakhs

Advantages of PoS:

• Portable; Take anywhere inside India
• Eliminates the need to carry Cash
• Faster and Easier
• 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 or 1800 425 00 000.