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Canara Bank for merchant acquiring biz

Canara Bank is wanting to set up and operate merchant acquiring business through POS on a revenue sharing model. It has sought proposals from service providers for the purpose. The bank wants the selected service provider to set up, manage and operate the business covering minimum 10,000 POS terminals every year over the period of next 5 years. The selected service provider will also supply, install, commission and maintain POS EDC terminals, along with operating system and other peripherals, transaction processing, field services etc. at various merchant locations for acceptance of all types of cards, issued in association with VISA, Master Card & RuPay. The bank desires to offer the POS EDC machines delivery channel to merchant establishments of bidder/banks and subsidiaries and other banks with which the bank may forge tie-ups. The bank wants the POS EDC terminals being deployed to be fully EMV compliant, be in the approved terminal list of the EMV Co and be chip-compliant and capable of PIN acceptance for chip cards.

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