Banks need 3,000 swiping gadgets

Lead District Manager S. Sundaramoorthy said that the demand for Point of Sale (PoS) terminals had gone up.

The banks in the district had asked for nearly 3,000 PoS terminals from head offices.

The PoS terminals process credit and debit cards and would boost cashless transactions.

Mr. Sundaramoorthy told reporters that the gadgets would be supplied to the ‘current account’ holders of various banks who were mainly traders and businessmen.

“Though the gadget will be distributed free-of-cost, rental charges and commissions will be levied by the banks for transactions made using it,” he said.

[Source:-THE HINDU]