With the RBI mandate requiring PIN verification of chip-based cards now in place, ICICI Merchant Services, one of India’s leading payment processing companies, plans to replace more than 25,000 traditional Point-of-Sale (POS) machines with portable handheld POS terminals. Most of these terminals are being deployed in restaurants, hotels and the broader hospitality sector.
Currently, ICICI Merchant Services manages more than 2 lac POS terminals in the country. In accordance with the RBI notification, post 1st December 2013, domestic debit as well as chip- and PIN-based credit cards holders must enter a PIN in order to successfully and securely complete a transaction with a merchant. With ICICI Merchant Services’ move to introduce portable handheld POS terminals, card users now have the ease of authorizing card transactions when the terminal is presented to them.
Prior to installing the handheld POS terminals, most restaurants asked customers to pay at the POS terminal, often located far from their table. Hotels also are embracing the portable POS terminals as a more convenient way to accept payments from their customers.
Currently, ICICI Merchant Services manages more than 2 lac POS terminals in the country. In accordance with the RBI notification, post 1st December 2013, domestic debit as well as chip- and PIN-based credit cards holders must enter a PIN in order to successfully and securely complete a transaction with a merchant. With ICICI Merchant Services’ move to introduce portable handheld POS terminals, card users now have the ease of authorizing card transactions when the terminal is presented to them.
Prior to installing the handheld POS terminals, most restaurants asked customers to pay at the POS terminal, often located far from their table. Hotels also are embracing the portable POS terminals as a more convenient way to accept payments from their customers.
“More merchants, especially in the hospitality sector, will adopt our handheld terminals because it allows for the POS terminal to come to the customer rather than the other way around. This is a real convenience,” said Nitish Asthana, executive director of ICICI Merchant Services. “We believe this solution will boost card transactions, as now over 70 percent of all cards in India require PIN authentificiation in order to successfully complete a transaction.”
“We continue to focus on providing a world-class dining experience to our guests through a unique combination of both food and beverage selections and service,” said Mr. Vijay Punjabi, AVP Finance from Hakkasan – A unit of KA Hospitality Pvt. Ltd. With PAY@TABLE, we have succeeded in providing our customers with a more convenient, swifter and more secure check-out option, which is an integral part of the world class experience we offer.”
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