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  • Digital transaction failed? Your bank will now pay you a penalty Sep 20, 2019 08:37 PM IST

    Digital transaction failed? Your bank will now pay you a penalty

    The banking regulator has prescribed a penalty of Rs 100 per day to be paid by the bank for delay beyond the timeframe set for auto reversal of such transactions.

  • Paytm looks to enter card payment business, plans to roll out PoS machines Jun 12, 2018 04:24 PM IST

    Paytm looks to enter card payment business, plans to roll out PoS machines

    The company will likely introduce both traditional PoS terminals, which work on GPS or landline, and mobile PoS terminals, which are operated through smartphones

  • Withdraw up to Rs 2,000 from PoS machines free of charge: SBI Apr 19, 2018 04:30 PM IST

    Withdraw up to Rs 2,000 from PoS machines free of charge: SBI

    As per the RBI guidelines, the withdrawal limit from PoS machines at retail outlets in Tier 1 and 2 cities per card per day is Rs 1,000 and Rs 2,000 for smaller towns.

  • Insurers to line up products to be sold by point of sale persons Apr 04, 2017 02:25 PM IST

    Insurers to line up products to be sold by point of sale persons

    As per the IRDAI guidelines, life insurers can sell pure term insurance products, immediate annuity products and non-linked non-participating endowment products through the point of sale persons.

  • Now, devotees can donate by scanning QR codes Feb 24, 2017 08:11 PM IST

    Now, devotees can donate by scanning QR codes

    After mobile wallets and point of sale machines, Paytm has set up QR codes at places of worship.

  • Union Budget 2017-18: Govt removes all taxes on PoS machines to push e-payments Feb 01, 2017 01:30 PM IST

    Union Budget 2017-18: Govt removes all taxes on PoS machines to push e-payments

    Elcina Electronic Industries Association of India said the exemption should be only for short-period to meet immediate needs to address shortages of such machines. In the long-term can, exemption to such machines can be detrimental for local manufacturing.

  • Norms eased for PoS devices import till March 31 Jan 20, 2017 09:12 AM IST

    Norms eased for PoS devices import till March 31

    PoS devices and sealed secondary cell/batteries containing alkaline or other non-acid electrolytes for use in portable applications have to be mandatorily registered with BIS.

  • SBI waives debit card charges for small merchants for 1 year Jan 09, 2017 05:40 PM IST

    SBI waives debit card charges for small merchants for 1 year

    This is to help the small merchants overcome the apprehensions towards joining this journey by installation of Point of Sale (PoS) terminals in their shops.

  • Demonetisation: Special fund to aid spread of digital payment infrastructure Jan 02, 2017 05:31 PM IST

    Demonetisation: Special fund to aid spread of digital payment infrastructure

    Govt mulling the creation of a special corpus to fund PoS-based and digital payment systems in rural and remote areas; announcement in Budget 2017-18 likely

  • Use e-wallets, PoS beyond 'hazardous area': Govt to petrol pumps Dec 27, 2016 04:15 PM IST

    Use e-wallets, PoS beyond 'hazardous area': Govt to petrol pumps

    Cashless payments can be carried out beyond an area of 1.2 metre, on either sides of the dipensing machine, and at a height of 45 cm from the ground, the official said.

  • Less-cash economy? Post-noteban card usage at PoSes plunges Dec 21, 2016 05:24 PM IST

    Less-cash economy? Post-noteban card usage at PoSes plunges

    The debit and credit cards transactions at PoSes were worth Rs 352.4 billion in value terms in November and Rs 181.3 billion till December 13, compared to Rs 511.2 billion in October.

  • Govt working with banks, global cos to ramp up PoS machines Dec 20, 2016 10:16 PM IST

    Govt working with banks, global cos to ramp up PoS machines

    The government is working with banks and international companies to ramp up point-of-sale (PoS) machines for cash transactions, Union Minister Piyush Goyal said today.

  • Aiming for 20-25% revenue growth in FY17: Mandhana Industries Dec 13, 2016 12:55 PM IST

    Aiming for 20-25% revenue growth in FY17: Mandhana Industries

    Speaking to CNBC-TV18, Manish Mandhana, Managing Director of the company said sales had dropped in November, but have recovered this month. Second half of the year is expected to be better with festivals and wedding season.

  • Govt asks banks to install additional 10 lakh PoS terminals Dec 06, 2016 08:42 PM IST

    Govt asks banks to install additional 10 lakh PoS terminals

    In order to promote digital transactions across the country, government has asked banks to install 10 lakh additional point of sale (PoS) terminals within four months.

  • Nucleus Software develops offline payment solution Dec 06, 2016 11:19 AM IST

    Nucleus Software develops offline payment solution

    Nucleus Software launched the world's first offline digital cash solutions - PaySe - this year and MD & CEO Vishnu R Dusad says this system will connect rural areas for e-payments.

  • RuPay card usage jumps 118% in 1st week of demonetisation Dec 02, 2016 09:24 PM IST

    RuPay card usage jumps 118% in 1st week of demonetisation

    RuPay card usage jumped by over 118.6 per cent in the week following demonetisation that took effect from November 8 mid-night while the overall debit and credit card transactions recorded an increase of 70.5 per cent.

  • Mastercard, Pine Labs to add 26,000 contactless POS in 12 mths Nov 29, 2016 08:48 PM IST

    Mastercard, Pine Labs to add 26,000 contactless POS in 12 mths

    More than 60,000 retailers across India depend on Pine Labs to securely and reliably manage their Payment Acceptance.

  • Excise exemption on PoS device manufacturing till March'17 Nov 29, 2016 03:18 PM IST

    Excise exemption on PoS device manufacturing till March'17

    In order to promote a 'less cash' economy, the government had yesterday removed 12.5 percent excise duty and 4 percent SAD (Special Additional Duty) on PoS machines and goods required for their manufacturing.

  • Maharashtra to supply 30,000 PoS machines in rural areas Nov 28, 2016 08:02 PM IST

    Maharashtra to supply 30,000 PoS machines in rural areas

    Maharashtra government has decided to supply 30,000 Point of Sale (PoS) machines to its 'Apale Sarkar' (Your Government') centres, mostly in rural areas, to support digital transactions and help the rural economy.

  • Paytm rolls back app POS service: Will it affect the brand? Nov 25, 2016 04:18 PM IST

    Paytm rolls back app POS service: Will it affect the brand?

    Even though Paytm claimed that the service was completely secure, just a day after the launch, the company announced its rollback in a blog.

  • 15 million PoS downloads by November end: Paytm Nov 23, 2016 08:38 PM IST

    15 million PoS downloads by November end: Paytm

    Paytm is now aiding around 70,000 merchants fight the money crunch with the new PoS (point of sale) update on its mobile app, says Founder Vijay Shekhar Sharma. Before the high denomination notes were discontinued, Paytm was only serving 40,000.

  • Demonetisation: Paytm launches app-based POS; to accept all debit, credit cards Nov 23, 2016 12:14 PM IST

    Demonetisation: Paytm launches app-based POS; to accept all debit, credit cards

    Users will be able to use debit and credit cards across associated merchant outlets which use Paytm app. The Noida-based company is registering 5 lakh users per day after demonetisation.

  • SBI pumps money in POS devices as cash pipeline dries-up Nov 22, 2016 08:10 PM IST

    SBI pumps money in POS devices as cash pipeline dries-up

    The move follows huge rush at banks and ATMs following the ban on old high-value notes of Rs 500 and Rs 1000.

  • Rupay debit cards can be used at PoS terminal: NPCI Nov 21, 2016 07:36 PM IST

    Rupay debit cards can be used at PoS terminal: NPCI

    There are over 300 million RuPay Debit Cards in circulation and on an average these cards record over 10 lakh transactions on PoS and e-commerce every day, NPCI said.

  • Demonetisation impact: RuPay records 8 lakh transactions per day Nov 11, 2016 02:06 PM IST

    Demonetisation impact: RuPay records 8 lakh transactions per day

    During last two days, RuPay usage on PoS / e-Commerce was around 8 lakh transactions a day compared with a daily average of 4 lakh transactions earlier. The value of transactions almost doubled.

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