The total tally of PoS (point-of-sale) installations of Karnataka Bank Ltd has reached 10,000 with the handing over of the 10,000th PoS installation to Ravichandar, Chairman and Managing Director of Bengaluru-based Nandana group of hotels on Monday.
The bank has been offering PoS services since 2011. A press release said here on Monday that this service enabled the merchant establishments to accept card payments and boost their business.
The bank is also providing ‘PoS Manager’, an android mobile app, to help merchants monitor and keep track of their counter transactions besides providing an interface to contact the bank and service provider for further information and escalations.
Quoting P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, it said that the bank has introduced several digital products during the current financial year.
He said that there is a substantial growth in the bank’s digital transactions and customer acceptability after demonetisation. The bank has added more than 7,000 new PoS installations during the current financial year.
He said that the bank has crossed the target given during demonetisation by the Finance Ministry on the installation of PoS terminals.
“Reaching 10,000 PoS-mark is a very satisfactory feeling which also amounts to fulfilling one of the goals set under ‘KBL Vision 2020’,” Bhat said.