Canara Bank Soft-PoS: The Future of Cost-Effective Digital Payment Solutions

Canara Bank introduces “Canara Bank Soft-PoS,” (Software Point-of-Sale) a new digital payment solution for Merchant Establishments (MEs), effective from 07.12.2024. This innovative service allows MEs to accept debit/credit cards (Rupay, VISA & MasterCard) and Dynamic QR Code (UPI) for contactless payments through NFC-enabled Android devices without requiring physical PoS machines.

This user-friendly platform caters to a diverse range of businesses, including small retailers, delivery services, grocery shops, and restaurants. By offering a modern digital payment solution, Canara Bank aims to attract fresh business while maintaining a competitive edge in the evolving digital payment market.

Table of Contents

Features of Canara Bank Soft-PoS 🌟
Monthly Rentals 🤝
On-Boarding Process 📋
Canara Bank Soft-PoS App Link 📲
SOP for Application Usage 🧾

Features of Canara Bank Soft-PoS 🌟

No physical PoS device need to be delivered to ME as their NFC enabled android mobile 📱 can be used as a PoS by simply downloading the application.
It is capable of accepting digital contactless payments through 💳 cards, UPI and wallets.
There is zero installation & hardware cost 🛠️ as no additional PoS device is required and ME’s mobile itself will work as a PoS device.
Paperless transaction receipts 📜 will also be sent to consumer through SMS instantly.
A cost-effective 🤑 variant of PoS suited for all kind of MEs from micro & small retailers, to delivery & courier services, small grocery shops, restaurants, and departmental stores, this device helps accept payments even on-the-go.
Make the payment experience seamless, secure 🛡️ and increasingly contactless.
Transaction Limits 📈 are as fixed by card issuers or as set by card-holder, whichever is less.

Monthly Rentals 🤝

The standard monthly rent fixed for Canara Bank Soft-PoS is Rs. 100+GST per Terminal ID (TID) issued.

On-Boarding Process 📋

Merchant can submit a request for PoS to their home Branch and once it is approved by Bank, service provider will on-board the Merchant and a welcome SMS will be sent to the Merchant’s registered mobile number.
Merchant can download the “Canara Bank Soft PoS” application from Google Play-Store.
Once sign-up is completed successfully, Merchant is good to go for accepting contactless digital payments through Tap-n-Pay cards and UPI.
Since, it is a Software based PoS where no physical device will be delivered, the merchant enrolment agreement will be executed digitally at the time of merchant on-boarding by PoS service provider.