SBI launches Multi Option Payment Acceptance Device (MOPAD) for the convenience of customers and merchants
New Delhi, Aug 9 (KNN) For the convenience of merchants and consumers, State Bank of India has launched its Multi Option Payment Acceptance Device (MOPAD) in Mumbai.
Under this, the customer will be able to make payments digitally through cards, Bharat QR, UPI and SBI Buddy (e-wallet) on a PoS terminal.
This initiative aims at providing digital convenience to customers and ease of doing business for merchants at the same time.
It was launched by Rana Ashutosh Kumar Singh, Chief General Manager, SBI, Chandigarh Circle.
The bank also said that customers would receive a charge-slip as a proof of payment after processing any type of transactions through MOPAD.
“This is not available for traditional Bharat QR / UPI / SBI Buddy transactions. The merchants get single MIS for all types of digital transactions, helping them to have total control on the cash flows. It is expected that this multipurpose initiative will enhance the digital ecosystem and help the bank in driving the economy towards a less-cash society,” SBI said in a press release.
Talking about this initiative, SBI chairman Rajnish Kumar said, “MOPAD will help merchants integrate different kinds of transaction through one PoS machine, which will help in eliminating their operational inconvenience and streamline cash flow.”
He said that this is another initiative by the bank towards less-cash economy, which will empower merchants and customers to opt for more digital transactions.
As per the statement, the new initiative will roll-out on all SBI PoS terminals in a phased manner.