Indian Bank

Indian Bank provides point-of-sale terminals to merchants in India, either on a rental model or with purchase of the equipment. The listed services are merchant acquiring and POS.

Product features The product includes QR and UPI acceptance, instalment payments, foreign cards and integration with billing and cash-register software. These options let a retailer take cards, UPI and QR codes through one bank relationship.

Requirements and onboarding Merchants need a settlement account with Indian Bank. To apply, documents are submitted at the nearest branch of the bank, so the process runs through the branch network rather than through an online-only application.

Who it suits The offer suits Indian shops and service businesses that already bank with the institution or are willing to open a settlement account with it, and that prefer to choose between renting and buying terminals. Rental charges, merchant discount rates, device prices and settlement timing are not given in the data. A merchant should compare them at the branch with the cost of alternative acquirers before choosing the rental or the purchase option.