PoS machines are absolutely FREE

for IB i-Freedom Prime account & MSME traders with exposure above 25 lakh

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.
• SoftPoS – Mobile application based payment acceptance facility with Tap-n-Pay and QR functionality.

How to avail PoS(Android/GPRS):

• Submit PoS application and Agreement to the nearest Indian Bank Branch.
• Enrolment of Merchant done upon receipt of application recommended by Zone.
• After enrolment, 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 as you use
  • Outright Purchase model: Pay once and enjoy PoS facility for lifetime

How to avail Indian Bank SoftPoS:

• Download “Indian Bank SoftPoS” from Google Playstore.
• Merchant can self-on-board by providing required details & uploading relevant documents.
• Upon successful completion; Unique merchant ID (MID & TID) will be generated.
• After verification of the documents uploaded; merchant can start transaction.
• There is no monthly fee for using “Indian Bank SoftPoS”.

Value added Services:

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

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-ifreedom prime Current Account 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
• 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 or 1800 425 00 000.