SBI POS Machine | Eligibility, Charges | Applying Process- POSTerminal

SBI POS Machine

Today, the world becomes advance,the majority of the bank account holder intends to make the payment through online mode or via debit/credit card. Now it becomes essential for the small, medium, or large merchant to accept the payment via the electronic mode (debit/credit card). State Bank of India provides various services to merchants through the latest PoS technology. Pos that is Point of Sale Terminal or PoS Terminal is an Electronic Data Capture machine that is used by the various merchants to make the payment method much simpler. With the help of SBI POS, Machine merchants can accept the payment from their customers with debit/credit cards. Here we are providing the compete Eligibility, Charges | Applying Process of SBI POS Terminal. Let’s have a look.

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SBI PoS – Eligibility Criteria

Valid business establishment and such business has been in existence for at least 06 months

Types of SBI POS Terminal

  • PSTN
  • Desktop GPRS
  • Portable GPRS 
  • Bio Metric Portable GPRS
  • NFC Enabled Terminal
  • Mobile PoS
  • ECR (Electronic Cash Register) Based Terminals
  • Bio Metric Desktop GPRS

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POS Terminal- Features & Benefits

Transparent Cash Management and Fast Payment

By making the payment through the cards helps in making the transaction transparent, and the payment method becomes faster as card payment requires hardly a few seconds.

Reduce Theft and Frauds

As the payment is paid and received via bank account so there is no transfer of hard cash, which reduced theft, and there are not frauds of fake notes.

Increased Sales volume

The facility of the card payments helps the customer to spend well as they have directly paid via cards, which also helps in increasing the sale volume.

Saving of Time

As all the payments are made and received via card mode, so the merchant does not have to count or recount the cash, which helps in saving the time of the merchant

Customer Care-24 x 7 x 365 helpline available for any type of query or problem. In case any misshaping merchant can directly talk with the bank executive, it the help of the customer care number.

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SBI PoS Charges

  • The SBI will bear all the costs of terminal
  • There will be no charges for the monthly rental installation for PSTN terminal. Whereas, the bank will charge the nominal charges for the desktop GPRS and Portable GPRS terminals.
  • At present, there are no installation charges for SBI PoS.
  • The bank will do a Merchant Establishment Agreement; all the charges will be stated in agreement. And such agreement must be signed by the merchants.
  • The charges charged by the bank will also attract GST or other taxes as applicable.
  • Merchants have the benefit of exclusive merchant benefit plans which are based on the number of sales made at the PoS terminal

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Procedure To Apply For SBI POS Machine

  • Open mab.sbi.co.in that is the official portal of the State Bank of India (SBI) 
  • After that, go to the ‘New Merchant’ section and press the ‘Apply now’ link.
  • Now you will be redirected to another page where you will get the “SBI Pos Form.”
  • Fill the application form as per the rules and provided the correct details.
  • After filling the form press the ‘Submit’ button
  • Finally, SBI executive will meet/ contact you for the document verification and POS installation

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Munendra Singh

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