SBI introduces MOPAD for multiple payment methods
Posted on: 09/Aug/2018 6:53:27 PM
State Bank of India (SBI) on Wednesday officially launched the MOPAD - the Multi-Option Payment Acceptance Device for enabling the option of multiple payments through a unified system.
With this unified payment option customers can pay through credit cards, debit cards, Bharat QR, UPI- Unified Payment Interface and SBI buddy payment. The option can ease out the payment methods for the public and also the merchants operating the transaction through a complete digitalized scheme.
Even charge slips for Bharat QR, UPI and SBI buddy payments as a proof of payment can be provided with the help of MOPAD option. Management Information System (MIS) will categorized under a single transaction system for the merchants helping out the complex financial transactions and cash flows. The state-run bank mentions the introduction of this new option as a unified system to encourage the digitalized flow of e-money for a less-cash society. SBI will install the facility on all PoS terminals on a divided phase operation for which 6.23 lakh terminals are deployed.
