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Point of sale

RBI issues draft regulations for payment aggregators; here is all you need to know

RBI issues draft regulations for payment aggregators; here is all you need to know

Wed, Apr 17, 2024

RBI latest news today: The Reserve Bank of India has released two sets of draft regulations for payment aggregators, broadly concerning certain activities carried out at physical points of sale (PoS). The central bank also made certain amendments to certain existing directions and invited public comments by May 31. Here's a lowdown on what these guidelines are all about.

Now train passengers can pay for their food via debit, credit cards

Now train passengers can pay for their food via debit, credit cards

Tue, Jan 29, 2019

IRCTC has introduced over 2000 Point of Sale (POS) hand-held devices in Mail/ Express trains so that passengers can pay their food bills through credit or debit cards on-board.

Mumbai property: Cash problems? No problem!

Mumbai property: Cash problems? No problem!

Thu, Oct 25, 2018

Mumbai property transactions are set to see a big change. People out to register their property-related documents at the department of registration and stamps can pay through e-wallet or e-banking soon. So, be prepared for a pleasant surprise.

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Govt to bear MDR charges on small transactions for next 2 years

Govt to bear MDR charges on small transactions for next 2 years

Fri, Dec 15, 2017

The RBI rationalised the framework of Merchant Discount Rate (MDR) into three category for debit cards transaction.

RBI rationalises framework for Merchant Discount Rate; details you need to know

RBI rationalises framework for Merchant Discount Rate; details you need to know

Wed, Dec 06, 2017

Performance debit card transaction at point of sales (POS) terminal has seen major boost after the announcement of demonetisation drive.

Govt's digital payments push making banks suffer a loss of Rs 3,800 crore: SBI

Govt's digital payments push making banks suffer a loss of Rs 3,800 crore: SBI

Thu, Sep 28, 2017

The number of point of sale (PoS) terminals post demonetisation increased from 13.8 lakh in March, 2016 to 28.4 lakh in July, 2017.

Why are ATMs in India suddenly running dry again?

Why are ATMs in India suddenly running dry again?

Fri, Apr 21, 2017

As per LocalCircles survey, from April 13 - April 16, nearly 46% of Indian citizens could not find ATMs dispensing cash. In the first week of April 2017, about 36% of citizen has reported the similar problem.

Digital payments in India reverse trend, grow in March

Digital payments in India reverse trend, grow in March

Wed, Apr 19, 2017

Vivek Kaul, author of Easy Money trilogy said, "There is a seasonality factor as well. March is the last month of the financial year and digital payments seem to go up during the course of the month, as people pay their taxes (advance income tax and service tax) as well as settle business payments between them."

Two reasons why RBI shouldn't print entire demonetised currency

Two reasons why RBI shouldn't print entire demonetised currency

Fri, Mar 31, 2017

Currency in circulation as on March 24, 2017, was Rs 13.12 lakh crore, Rs 4.85 lakh crore less from total currency of Rs 17.97 lakh crore which stood at pre-demonetisation level.

POS machines likely to outshine ATMs as India hurries towards less-cash

POS machines likely to outshine ATMs as India hurries towards less-cash

Tue, Dec 20, 2016

M B Mahesh, Nischint Chawathe and Abhijeet Sakhare of Kotak Institutional Equities said, “With 0.2 million ATMs and 1.4 million POS machines, Indian banks are getting an unexpected benefit coming through demonetisation as the bulk of 0.6 billion debit cards and 0.02 million credit card holders have started to look seriously at newer channels of payment.”

Government asks banks to install additional 10 lakh PoS

Government asks banks to install additional 10 lakh PoS

Tue, Dec 06, 2016

A total of 2,73,919 camps have been organised so far in which 24.54 lakh accounts have been opened.

Digital banking may eat into ATM business

Digital banking may eat into ATM business

Fri, Dec 02, 2016

According to V. Balasubramanian, President, Financial Software and Systems (FSS), the demand for ATMs is unlikely to be affected in the next couple of years, but "it is not possible to make a growth estimate after two years given the changed situation".

How to avoid cyber fraud in card transaction

How to avoid cyber fraud in card transaction

Fri, Nov 18, 2016

To secure the POS system, any Wi-Fi systems should be password-protected.

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