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SBI launches unified payment terminal 'MOPAD': Details, Features, Benefits
SBI launches unified payment terminal 'MOPAD': Details, Features, Benefits
State Bank of India (SBI) has launched its Multi Option Payment Acceptance Device (MOPAD) for digital payments convenience of merchants and consumers.
This SBI initiative aims at providing digital convenience to customers and ease of doing business for merchants at the same time. SBI will roll-out this new initiative on all SBI PoS terminals in a phased manner.
About Multi Option Payment Acceptance Device (MOPAD)
MOPAD also aims at providing convenience to merchants by eliminating multiple machines that they keep in order to facilitate transaction from different sources. It will allow customers to make payments through cards, Bharat QR, UPI and SBI Buddy (e-wallet) on single Point–of–Sale (PoS) terminal.
MOPAD will help merchants to integrate different kinds of the transaction through one PoS machine, which will help to eliminate their operational inconvenience and streamline cash flow. Customers will receive a charge-slip as proof of payment after processing any type of transactions through MOPAD.
This multipurpose initiative will also enhance the digital ecosystem and help the bank in driving the economy towards a less-cash society.
