Special offer for retailers on Kotak POS/Swipe Card Machine and Kotak
Current Account this festive season. Avail waiver on rentals^ on Kotak Swipe
(POS) Machine. No NMC (Non Maintenance Charges) ^ on Current Account.
Make your Point of Sale a Point of Difference with our PoS Solution. It provides accurate and quick transactions at the counter. Choose what works best for you - wired Card Swipe Machine (EDC/POS) or Wireless Card Swipe Machine. Your customers will spend less time at checkout lines and won’t have to worry about carrying cash or change.
Freedom from cash management costs in a safe and secure manner
Daily Transaction Reports
Quick Installation
On-site Merchant Training
Instant Payment Receipts
Loan available against card receivables
Accepts Visa, MasterCard and RuPay Cards
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Our POS terminals have NFC (Tap & Pay), Chip & Pin, and Card Swipe facilities
^ Waiver of rental up to Rs 600/- per Quarter per account is subject to maintenance of Rs 1 lakh of AQB (Average quarterly balance) and monthly effective rental equal to or above Rs. 400 (excluding GST) per terminal per month. Customers with outstanding charges/Lien marked in the account will not get the benefit of rental reversal. If POS is discontinued, this offer will not be applicable and necessary balances need to be maintained as per defined GSFC. This is applicable only on Pro Current Account variant.
You are eligible as a Merchant if you already have a Current Account with the bank. Don't have one? No problem, simply open a Current Account with us to become eligible instantly.
Who can avail these benefits?
Note: Complete Know Your Customer (KYC) needs to be furnished for the opening of Current Account of new customers. In case of non-availability of the above documents, please contact your bank official for a complete list of acceptable documents.
| Particulars | Standard Charges | |
|---|---|---|
| Annual Maintenance Charges (Per TID) | GPRS | INR 1000 |
| PSTN | INR 2000 | |
| Bharat QR | INR 250 | |
| Transaction Service charges | INR 1 per Txn | |
| Late Settlement Charges | INR 350 per late settlement after 2 days | |
| Low throughput charges (Not Applicable for Bharat QR) | Nil transction | INR 350 per month |
| Upto INR 10,000 per month | INR 250 per month | |
| Between INR 10,000 and INR 25,000 per month | INR 150 per month | |
| Lost terminal charges | GPRS | INR 12000 |
| PSTN | INR 9000 | |
| Damaged terminal charges | Actual cost of repair + INR 500 | |
| Application Cancellation charges | INR 1000 | |
| Chargeback Management Fees | INR 500 per case | |
| Deinstallation | INR 3000 if deinstalled within 12 months | |
| Paper roll charges | As per actuals | |
| Processing of refund transactions | MDR Cost + INR 100 per refund | |
| Please Note: | ||
| Abbreviations Used: TID = Terminal Identification Number, QR = Quick Response, GPRS = General Packet Radio Service, PSTN = Public Switched Telephone Network, txn = transaction, INR = Indian Rupee | ||
| Charges are exclusive of the Goods and Service Tax (GST). With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time. |
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| Charges may vary as per the Banks discretion. All charges are subject to revision with an intimation of 30 days to the Merchant. | ||
| Services not available at all the locations. Please get in touch with your nearest Kotak Mahindra Bank branch for availability of Merchant Acquiring Services in your location | ||
I have been using the Kotak machine for the last 2 months, and it has been great. All the transactions are smooth & quick.
- Vinod (Owner, Sai Collection)
Kotak POS machine has made my transactions so convenient with all the advanced features – tap and pay , QR solution
- Parth Mehta (Galaxy Cycle Agency)
Kotak POS machine has resolved so many petty cash hassles, daily visits to the bank, social distancing at my shop with payments simplified.
- Keshavbhai Solanki (M Super Mart)
