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Karnataka Bank installs 10000th PoS terminal

Karnataka Bank has completed 10,000 installations of its PoS terminals. The 10000th PoS machine was installed at the Bengaluru-based Nandana Group of Hotels recently. The bank has been offering PoS services since 2011. The bank has also introduced ‘PoS Manager’, an android mobile app, to help merchants monitor and keep track of their counter transactions besides providing an interface to contact the bank and service provider for further information and escalations. P Jayarama Bhat, MD and CEO of the bank, said that there has been a substantial growth in the bank’s digital transactions and customer acceptability after demonetization. The bank has added more than 7,000 new PoS installations during the current financial year, he said, adding the bank has crossed the target given during demonetization by the finance ministry on the installation of PoS terminals.

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