Customers are aware that we have started implementation of PoS machines at merchant establishments on 29.09.2017.
Now it is to inform the Customers that Monthly rental of the PoS machine is reduced and also there are not charges (Merchant discount rate) uptoRs. 2,000.00 swiping (purchased amount) by Rupay debit cards.
Customer name,A/c No, Address details, contact details, Type of machine required.
Our IT department will inform the details to the PoS service vendor M/s India Transact Services ltd. All the remaining works like installation of PoS machines etc would be taken up by the vendor. Branch is to execute agreement with the merchant.(profarma of agreement attached)
Settlement, reconciliation etc..all the works would be taken care by the vendor M/s ITSL.
A. PSTN model -Rent per month is Rs.399.00 + GST per month.
B. GPRS model -Rent per month is Rs.550.00 + GST per month.
C. MPOS (Mobile PoS model) - Rental is Rs.250.00 + GST per month.
Merchant discount rates.
For Debit cards
Upto purchase amount of Rs.2000.00 - No charges.
For the purchase amount greater than Rs.2,000.00
Merchants with turnover less than 20 lakhs
0.40% of the purchase amount
Merchants with turn over more than Rs.20 lakhs
0.90% of the purchase amount
For Credit cards swiping merchant discount rate is as follows.
Standard credit card - 1.40% of the swiping amount.
For Premium Credit card - 1.95% of the swiping amount.
After deduction of the above discount the remaining amount will be credited to merchant current account on the next day of the transactions.
We are pleased to inform the branches that Ecommerce service live in our bank on 21.04.2016.
1. Ecommerce services are maintained by National Payments Corporation of India.
Using this service our customers who were issued RuPay Debit cards can make online purchases by selecting the payment option ‘RuPay Debit card’ in the merchant website.
2. Brief description of the process:
At the time of first purchase, one time registration process takes place as under.
From next time, for making the transaction no registration is required and the customer is to follow as under