Updated By: LatestGKGS Desk
Karnataka Bank Ltd Launches 'Cash@PoS' facility to withdraw cash from PoS terminals
Karnataka Bank has launched 'Cash@PoS' facility to withdraw cash from PoS terminals: Details, Highlights, Purpose, About
Karnataka Bank Ltd has introduced 'Cash@PoS' facility through its network of 13,100-plus Point of Sale (PoS) terminals installed at various merchant establishments throughout the country.
The facility is available for Karnataka Bank and other banks’ debit/prepaid cardholders, subject to respective banks (issued by banks in India) enabling the Cash@PoS facility for their cardholders.
As per with the guidelines of the Reserve Bank of India, customers can withdraw up to Rs 1,000 a day per card in tier-I and tier-II cities, and Rs 2,000 a card per day in tier-III to tier-VI centers through Cash@PoS.
The merchant establishment will not apply any charge for dispensing cash as the charges will be levied by the card issuing bank.
Cash@PoS is an avenue for income generation for the merchants as they will receive fees/incentives on such transactions which will be reimbursed/paid by the bank,
Karnataka Bank
Founded: 1924
Headquarters: Mangalore
CEO: Mahabaleshwara M S
Tagline: Your family bank across India
