How to Sell Point of Sale (POS) Systems to Small Business Owners?
It was already a big question to the retail bankers now it becomes more challenging.
According to RBI data, the UPI platform now has more than 50 million #merchants onboarded.
In the monetary policy announced on 08th June, RBI permitted the linking of credit cards with UPI.
That means, you can effectively pay with your credit card account, without having to swipe the credit card at a POS machine.
Merchants are likely to be sold on to the idea of UPI linked credit cards.
The merchants does not require any infrastructure other than making the QR codes available.
-> A merchants do not have to invest in a POS machine.
-> credit cards have an MDR charge while UPI is free of cost
-> POS transactions are settled in T+2 or longer, while UPI linked transactions would be quicker