All Bank Cash Withdrawal
The Withdrawal solution is offered at an enticing price point service (as a non-refundable deposit) with a
monthly rental fee of Rs. 150/- and a commission of per cash-back transaction or monthly mode. Any
legitimate business can open a zero balance account with Any Bank and any Android or Tablet with a WiFi or
data connection. For any Cash@POS transactions, the amount plus commission are settled the next day into the
bank account of the merchant.
With respect to Cash@POS, it is a proven solution in the US where any grocery store lets you pay with your
card and withdraw up to $100 then and there. RBI today allows a daily limit of Rs. 1000 per cardholder.
This solution is surely a great utility but as a consumer, how safe is this?-“The beauty of this solution is that it
is 100% certified by all the required standards and global best practices – EMV, PCI-PTS, PCI-DSS which are
standards in the Payments industry. This means that the card reader and the PIN entry are exactly on par and
certified as per the same standards as any other ATM,”
To introduce you to “Eze POS” – an mPOS solution to collect credit / debit card payments (card present)
through an innovative dongle like device that can be attached to a mobile phone / tablets.
With Eze POS, a store or an on-field agent of your company anywhere across the country can collect card payment - easily and securely – using their mobile handset or tablets. The product is now live and we are rolling it out across the country with a few key banking partners (attached is the brief overview).
- 1. Auto Statement:- On Eze Pos, transactions are settled automatically, whereas in traditional POS system settlement is a manual activity. Hence you will always get payment on time which is T+1 working day.
- 2. Integration & Auto Reconciliation:- Eze Pos system can be integrated with the billing system. Hence as soon as card payment is collected, the payment transaction will be posted into your system. In case of traditional POS system, billing and payment system are separate. Because of integration, transaction wise reconciliation is automatic.
- 3. Central Monitoring:- All card payment transactions can be monitored centrally on a real-time basis.
- 4. No Maintenance of Chargeslip:- As per banking regulations, merchants have to maintain physical copy of charge slip for every card transaction to fight charge backs. In case of Eze Pos, charge slips are maintained digitally and it can be easily retrieved.
