Merchant Acquiring Services(POS)

Accept Payments Seamlessly with SIB POS Solutions

Merchant Acquiring Services (POS) enable businesses to accept digital payments at their point of sale, including all variants of Visa, Mastercard, RuPay Cards and BQRs. This eliminates the need for cash handling, increasing sales by offering customers convenient payment options in this digital era. POS terminals simplify the shopping experience for customers by allowing them to pay without carrying cash.

Key Features

Multiple Payment Modes
Secure & Hassle-Free Transactions
Smooth Settlements
24/7 Customer Support

Types of POS Terminals provided by the bank

Android POS Terminals:

Android POS terminals are versatile devices powered by the Android operating system. They offer a range of capabilities, including accepting digital payments through in-app solutions or seamless integration with existing Enterprise Resource Planning (ERP) systems.

GPRS POS Terminals:

GPRS POS terminals are wireless devices that utilize a SIM card for network connectivity. These terminals offer greater flexibility for both merchants and customers by providing enhanced mobility.

The Sound Box:

The QR Sound Box provides instant voice confirmation of digital payments received via QR code at the merchant location.

Charges involved in POS transactions

Merchant Discount Rate (MDR): Merchants are responsible for paying a small percentage of the transaction value to the acquiring bank as a processing fee.
Rental Fees: A monthly rental fee may be applicable depending on the type of POS terminal used.
Cardholder Charges: Typically, cardholders do not incur any charges for using their cards for POS transactions, except in specific cases like fuel purchases at gas stations.

How to Apply for a POS Machine?

Merchants can apply for a POS machine by submitting an application form and required documents to their bank branch. The bank will review the application and approve it based on eligibility criteria. Upon approval, the bank will install the POS terminal at the merchants location.

For more details, visit your nearest branch or contact our customer support.

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