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
Our POS terminals have NFC (Tap & Pay), Chip & Pin, and Card Swipe facilities
Eligibility Criteria
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?
Sole Proprietorship
Partnerships/Limited Liability Partnership
Private Limited Company
Co-operative Society/Subsidiaries and Associations/Trust/Club
Religious Organisation/ Educational Institute/ Government Body
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.
Fees & Charges
Particulars
Standard Charges
Annual Maintenance Charges (Per TID)
GPRS / Android / MPOS
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 / Android
INR 12000
PSTN
INR 9000
MPOS
INR 6000
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
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.
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
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