POINT OF SALE

 

POS

A point of sale (PoS) is the place where sales are made. On a macro level, a PoS may be a mall, a market or a city. On a micro level, retailers consider a PoS to be the area where a customer completes a transaction, such as a checkout counter. It is also known as a point of purchase.

Physical PoS

Necessary conditions for service initiation:

  • Handheld Device with card and /or bio-metric  reader
  • Merchant Bank a/c
  • Internet connectivity GPRS/ Landline

Service Activation:

  • Paper work with Bank for merchant bank a/c
  • Deposit certain amount
  • Collect device
  • Configuration and training to operator

What is required for Transaction:

  • Any Card
  • Resident for bio-metric authentication (AEPS)
  • Assisted Mode

Funds Transfer limit:

  • No limit for regulator
  • Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Service Available from no. of operators:

  • Source RBI – Aug’16
    • 14.62 lakh
    • Interoperable

Mobile PoS

Necessary conditions for service initiation:

  • Smartphone
  • App from bank
  • Integrated or external card and /or bio-metric  reader
  • Reader connects using jack or bluetooth
  • Internet connectivity 2G/3G/4G, or Wi-Fi
  • QR code and Bar code reader

Service Activation:

  • Merchant Bank a/c
  • Download App
  • Register device and/or mobile with merchant bank a/c and bank
  • May require training or readable instructions

What is required for Transaction:

  • Any Card
  • Resident for bio-metric auth (AEPS) for registered devices
  • Wallet account
  • Scanner for  reading QR Code and Bar Code
  • Self-service and/or Assisted mode

Funds Transfer limit:

  • No limit for regulator
  • Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Virtual PoS

Necessary conditions for service initiation:

  • Smartphone and /or Web browser
  • Internet connectivity 2G/3G/4G, or Wi-Fi or landline
  • E-payment gateway
  • Virtual A/c for transactions
  • May need QR code

Service Activation:

  • Merchant Bank a/c with some merchant credentials
  • In case of QR code for pull transactions
  • May require ability to identify or authenticate user for service delivery

What is required for Transaction:

  • Any Card
  • Wallet Account
  • Scanner for  reading QR Code and Bar Code

Funds Transfer limit:

  • No limit for regulator
  • Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.