DIGITAL PAYMENT METHODS POS

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.


Source:http://cashlessindia.gov.in