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Axis Bank, India’s third largest private sector bank, has become the first Indian Bank to cross 2,00,000 Point of Sale(PoS) terminal installations in the merchant acquiring space in the Country.
Axis Bank PoS network is present across all major segments like Departmental stores, Pharmacies, Super and Hyper markets, Jewelers, Hotels, Retail fashion, Hospitals, Education Institutions, Government utility payments, Insurance, Dinning and fuel pumps in over 692 cities. Customers can avail the benefit of Axis Bank PoS terminals at Merchant Outlets across Ladakh in North to Kanyakumari in South and from Rann of Kutch in West to Nalbari (Bhutan Border) in North-east.
Speaking on this landmark achievement V. Srinivasan, ED, Corporate Banking, Axis Bank said, “We are moving towards a cashless economy with increasing number of card holders and growing card based transactions. Axis Bank understands customer’s need and is proud to be a front-runner in offering cashless transactions to customers through PoS terminals.”
Axis Bank also leads in innovation on the acquiring side and is a clear market leader in providing the option of Desktop PoS (PC-PoS) to various organized retail chains which facilitates faster reconciliation and ease of operations for the retailers.
Axis Bank has been a pioneer in launching technological solutions. Earlier Axis Bank launched Dynamic Currency Convertor (DCC) which offers the flexibility to international cardholders to pay their local currency and has already introduced the facility of cash disbursement on PoS network through -Everywhere Teller Machines (ETMs) at these Point of Sale terminals.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.