Karnataka Bank reaches 10000 POS Terminals

Karnataka Bank reaches 10000 POS Terminals

Mangalore Today News Network

Mangaluru, Mar 27, 2017: Karnataka Bank, a Premier Private Sector Bank of the country, as part of its digital initiative, has reached the total tally of 10,000 POS installations on 27.03.2017.

The 10,000th POS terminal is handed over by Mr P. Jayarama Bhat, Managing Director & CEO of the Bank to Dr. Ravichandar, Chairman & Managing Director of M/s Nandana Group of Hotels, Bengaluru, one of its valued customers, at the function held at Bank’s Bengaluru Regional Office.


Since 2011, Bank is offering POS (Point of Sale) services, which enabled the merchant establishments to accept the card payments and boost their business. Landline, GPRS (Handheld & Desktop) and Digital POS are the type of terminals presently being offered to merchants. Digital POS terminal is the most advanced & sophisticated terminal, on successful transaction which will send the URL link to customer mobile, through which they can generate & retrieve the charge-slip (receipt).  Further, Bank is providing “POS MANAGER”, a first of its kind android mobile app, which will help the merchant to monitor & keep track of their counter transactions besides providing an interface to contact the Bank/service provider for further information & escalations.


“In its pursuit to provide seamless banking experience to customers, Bank has taken various initiatives and bringing out new digital channels & striving hard to provide more value additions to the existing channels on continuous basis. During this financial year, Bank has introduced several digital products, to name the few major -KBL SMARTz UPI App, new & upgraded versions of Mobile Banking & Internet Banking, RuPay Platinum Debit Cards etc. After demonetization, there is a substantial growth in Bank’s digital transactions, and customer acceptability is also very high. During the current fiscal, Bank’s performance in POS business is splendid & noteworthy, total 7000+ new POS installations are added. Bank has crossed the POS terminals target given by DFS, MOF during demonetization. We offer the POS service at very competitive & affordable rates. Reaching 10,000 POS mark is a very satisfactory feeling which also amounts to fulfilling one of the goals set under KBL VISION 2020. We are committed to take ‘Digi bank’ initiative to new highs in the days to come” said Shri. P Jayarama Bhat, Managing Director & CEO of the Bank. Bank’s Chief General Manager Shri Mahabaleshwara M. S, C.E.O of M/s MRLPosnet Mr. Pratap P.V,  Bengaluru Regional Head of Karnataka Bank Mr. Gokuldas Pai and others were present on the occasion.