SBI launches MOPAD, a unified payment terminal
By Nehal Chaliawala
State Bank of India, the largest lender with a fifth of the market share, launched a payments machine that would help merchants eliminate the multiple choices that they keep to facilitate transactions from cards to QR code based payments.
The new device titled MOPAD, or Multi Option Payment Acceptance Device, is a Point of Sale (PoS) terminal that would along with cards accept payments through UPI, Bharat QR, and SBI Buddy wallet which till now required different tools to receive payments.
“It will be of great convenience for the customers because they won’t have to carry cards, they can just scan the QR code to make the payment. Don’t carry cash, don’t carry card,” said Rajnish Kumar, Chairman, SBI, at the launch of the device here.
SBI has 6.23 lakh PoS terminals where debit and credit cards are swiped to make payments. It plans to roll-out this new facility on all these terminals in a phased manner.
State Bank of India, the largest lender with a fifth of the market share, launched a payments machine that would help merchants eliminate the multiple choices that they keep to facilitate transactions from cards to QR code based payments.
The new device titled MOPAD, or Multi Option Payment Acceptance Device, is a Point of Sale (PoS) terminal that would along with cards accept payments through UPI, Bharat QR, and SBI Buddy wallet which till now required different tools to receive payments.
“It will be of great convenience for the customers because they won’t have to carry cards, they can just scan the QR code to make the payment. Don’t carry cash, don’t carry card,” said Rajnish Kumar, Chairman, SBI, at the launch of the device here.
SBI has 6.23 lakh PoS terminals where debit and credit cards are swiped to make payments. It plans to roll-out this new facility on all these terminals in a phased manner.
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