Indian Bank waives the rental charges of POS swipe machines
Posted on: 23/Nov/2016 10:07:09 AM
Indian Bank has announced that it has waived the rental charges of POS swipe machines for the merchants in order to encourage the people to use digital transactions.
In a press release the Indian Bank has mentioned: Since the central government has demonetized 500 and 1000 rupee notes there is shortage in cash. Indian Bank has started a special PoS (point of sale) campaign at all its branches, waiving the monthly rental on the PoS machines availed by the merchants till March 31, 2017. Indian Bank has also waived the merchant discount rate (MDR) on transactions done using its RuPay debit cards in their PoS machines with immediate effect till December 31, 2016. In addition to PoS, Indian Bank also provides a scan and pay facility. In this facility a QR code printed on a paper is displayed by the merchant, and customers can scan the QR code using Indian Bank mobile app IndPay, enter the amount to be paid and send the money to merchant`s account instantly. Both merchant and customer will receive SMS instantly confirming the payment,
