The majority of clients nowadays choose to pay using a debit card or credit card. This makes it critical for any small, medium, or large-scale business owner or merchant to accept electronic payments from clients in order to increase sales volumes. SBI Merchant Acquiring Services are accessible at more than 15000 SBI PoS locations across the country. SBI PoS (Point of Sale Terminal or PoS Terminal) is an Electronic Data Capture machine or a PIN pad used in stores to simplify sales and transactions.
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What Exactly is SBI Pos?
The point of sale, or pos, is the location where a customer completes a transaction or makes a payment for goods and services. Credit card processing, transaction management, and other post-transaction processes are all services provided by a PoS system. A Pos Terminal is essential to process card payments whether a merchant operates a retail store or a restaurant. Through their latest PoS technology, SBI offers a multitude of services to retailers who have an SBI Current Account.
SBI PoS Terminal Types
A merchant can obtain the following possibilities with SBI PoS:
- PSTN – This can be connected using the regular telephone line
- Desktop GPRS – This can be connected with a GPRS SIM that is installed at the outlet
- Portable GPRS – This can be connected using a GPRS SIM and is powered by an inbuilt battery. This can be used anywhere as it is portable
- Mobile PoS
- ECR (Electronic Cash Register) Based Terminals
- Bio Metric Desktop GPRS
- Bio Metric Portable GPRS
- NFC Enabled Terminal
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Charges for SBI PoS
SBI provides the most affordable and appealing PoS installation options for all merchants. Fees and charges for SBI PoS systems are as follows:
- SBI is responsible for all terminal costs.
- The merchant is not needed to pay a monthly fee for the installation of a PSTN terminal.
- The monthly rental fees for the installation of Portable GPRS and GPRS terminals are minimal.
- For Off-us and On-us transactions, all merchants have the option of choosing between integrated and differential rates. On-us transactions are any transactions performed with an SBI ATM, Debit Card, or Prepaid Card issued by the SBI Group and utilised at SBI POS terminals.
- Off-Us transactions are any transactions conducted using ATM Cum Debit Cards or prepaid cards issued by other banks.
- Exclusive merchant reward programmes based on the volume of sales made at the PoS terminal are available to merchants.
- All applicable charges will be listed in the Merchant Establishment Agreement, which the merchants will sign to verify that there are no anomalies.
- SBI PoS charges no installation fees for any type of business in any location.
- All charges will be subject to GST or other relevant taxes.
Eligibility Criteria for SBI PoS
In order to apply for an SBI PoS, the consumer must have the following:
- A legal business entity that is currently operational and generates some revenue and activities.
- A company that has been in operation for at least 6 months.
The merchant can apply for an SBI PoS terminal by contacting the nearest SBI branch. Merchants should contact Multi-Product Sales team executives and supply the following documents:
- Fill out the merchant application form completely.
- ID Proof such as voter’s ID/ Passport/ Adhaar Card/ Driver’s License.
- Address Proof such as the Rental Agreement/ Adhaar Card/ Passport/ Driver’s License.
- Business Establishment Proof such as Registration/ Shop Act License/ Partnership Deed or ITR.
Merchants can also apply online at www.mab.sbi.co.in by following the steps below:
- On the homepage, click on the Apply Now button.
- Fill out the form and attach the required papers.Merchants must supply information such as the type of business, contact information, the number of POS terminals necessary, the typical number of transactions per day, and other business information.
SBI executives will contact the merchant for document verification and POS installation.
SBI PoS Features and Benefits
- SBI Merchant Acquiring’s mission is to deliver an advanced suite of PoS Services to new and existing merchants to assist them accept all chip-based and PIN-based cards. These EMV-compliant PoS Services provide retailers with the following capabilities and benefits:
- Increases sales volume: A point-of-sale system allows customers to pay with cards. Because currency is not available, sales are not restricted. This boosts client loyalty while also increasing sales margins on specific items.
- Faster payment and better cash management: When a merchant accepts payments by card, transactions are completed faster and electronically credited to the merchant’s account according to the transaction cycle selected by the merchant.
- Saves you time: When a merchant accepts card payments, he or she might eliminate other procedures like counting cash or going to an SBI branch to have the cash deposited. This frees up a merchant’s time to focus on other activities like marketing and expanding their firm.
- Provides protection: Because the funds are directly credited to the merchant’s account, he or she avoids the risk of keeping significant quantities of cash on hand.
- These terminals are also EMV compatible and can accept chip-based cards. This means that even customers are protected against fraud during their transactions.
- Excellent customer service: With SBI PoS, a merchant receives prompt and dependable help in the event of a PoS terminal breakdown or any network interruption that could affect sales. These services are available at all times and are simple to use.
- SBI Cash@Point-of-Sale: All SBI debit card users can withdraw cash by swiping their SBI ATM cum Debit cards at SBI PoS terminals at merchant locations.
How can I Apply for SBI Point of Sale?
- First, go to https://mab.sbi.co.in/
- Under the ‘New Merchant’ area, click ‘Apply Now.’
- The merchant will be sent to the SBI Pos Form, where he or she must complete the needed fields.
- To successfully apply for SBI PoS, click ‘Submit.’
- The merchant will be contacted by an SBI official for document verification and POS installation.
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Customer Service at SBI POS
Any merchant can check transaction data and file a complaint by logging into their merchant account at www.mab.sbi.co.in. Customer service can also be reached through these channels:
For PRIZM Serviced Terminals:
- Toll-free number: 18004250727
- Non-Toll-free number: 1860 524 0767
- SMS: Send ‘POS’ to 56677
- Email: care.Pos@prizmpayments.com
For ATOS Serviced Terminals
- Toll-free number: 1860 233 2332
- Non Toll-free number: 022-4042 6060
- SMS: Send ‘HELP’ to 56070
- Email: awl-in.merchanthelpdesk@atos.net