Merchant Acquiring Services(POS)

Accept Payments Seamlessly with SIB POS Solutions

South Indian Bank’s Point of Sales (POS) terminals empower merchants to accept payments effortlessly through debit cards, credit cards, and gift cards. By installing a POS machine at your establishment, you can reduce cash handling, enhance customer convenience, and increase business revenue.

Key Features

Multiple Payment Modes
Secure & Hassle-Free Transactions
Smooth Settlements
24/7 Customer Support

Types of POS Terminals provided by the bank

We offer two types of POS machines to meet different business needs:

Countertop POS Terminals - Connected via a direct PSTN landline, ensuring stable transactions. Currently, no monthly rent is levied on these machines.
GPRS POS Terminals - Wireless POS machines with mobility advantages, allowing PIN entry anywhere. A monthly rental of Rs.1000 + GST applies, with waiver options based on account balance

Charges Involved in POS Transactions

Merchant Discount Rate (MDR) - Merchants pay a small percentage of the transaction value to the bank, varying based on business type.
No Additional Charges for Customers - Customers are not charged for using the POS, except in specific cases like fuel stations.

How to Apply for a POS Machine?

Fill out the POS application form at your nearest South Indian Bank branch.
Submit necessary documents along with the form.
Upon approval, enter into an agreement with the bank.
The POS terminal will be installed at your business location.

Click here to download the application form

For more details, visit your nearest branch or contact our customer support.

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