City banks are still reeling under the shortage of Point of Sale (POS) machines. Even as nearly 15,000 traders have applied for POS machines in Chandigarh, they said they are not getting them because the banks claim that they have still not received any stock. General Secretary of Bank of India staff association, KS Thakur said, “We have been given one month of waiting for the POS machines. As fewer people preferred such machines earlier, the banks never kept many with them. Now all of a sudden, thousands of people have written to us for the machines.”
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Chairman of Chandigarh Beopar Mandal, Charanjiv Singh said that every other small trader has also applied for POS machines.
“It has been nearly a month, traders have written for POS machines but the banks say that they will be not be made available soon. Nobody wants his or her business to suffer if a customer wants to use a card but the machine is not there,” said Charanjiv.
The machines are manufactured in Chennai, Bangalore, and Mumbai, and are imported from abroad as well. They are procured by the headquarters and cannot be taken by any zonal or branch office.
There are two types of PoS machines — one a fixed line machine and the other a wireless machine. While some traders purchase machines costing between Rs 800 and Rs 5,000 (different charges for fixed line and wireless) from banks, some banks give the machines free of cost and charge a monthly rent varying from Rs 250 to Rs 700. Banks even waive the rental charges in case of old customers who bring a good earning to banks by using PoS machines through the transaction charges.
With the aim to become a cashless society, the Chandigarh administration will soon hold awareness sessions to encourage online payments. It has asked traders to encourage customers to make payments through POS machines as well.