POS FAQs

1. What is a Point of Sale (POS) machine?

- A Point of Sale (POS) machine is a device used to process card payments at retail locations or merchant outlets. It allows customers to make purchases using debit cards, credit cards, or other payment methods.

2. Where can I use a POS machine provided by Indian Overseas Bank?

- POS machines provided by Indian Overseas Bank can be used at various merchant outlets, retail stores, restaurants, petrol pumps, and other establishments that accept card payments.

3. What types of cards can I use with an Indian Overseas Bank POS machine?

- You can use debit cards, credit cards, prepaid cards, and other payment cards issued by banks and financial institutions that are part of the card network supported by Indian Overseas Bank's POS machines.

4. Is it safe to use my card with an Indian Overseas Bank POS machine?

- Yes, Indian Overseas Bank's POS machines are equipped with advanced security features to ensure the safety and confidentiality of card transactions. These features include encryption, tokenization, and EMV chip technology.

5. How do I make a payment using an Indian Overseas Bank POS machine?

- To make a payment using an Indian Overseas Bank POS machine, simply present your card to the merchant, who will insert, swipe, or tap the card on the POS terminal. Follow the prompts on the screen to complete the transaction, including entering the PIN if required.

6. What should I do if my card is declined at an Indian Overseas Bank POS machine?

- If your card is declined at an Indian Overseas Bank POS machine, check if you have sufficient funds in your account or if there are any transaction limits imposed by your bank. You can also try using an alternative payment method or contact your bank for assistance.

7. Can I get cashback on transactions made using an Indian Overseas Bank POS machine?

- Some merchant outlets may offer cashback facilities on transactions made using Indian Overseas Bank's POS machines. However, availability and conditions for cashback may vary depending on the merchant's policy.

8. Is there a limit on the amount I can spend using an Indian Overseas Bank POS machine?

- Indian Overseas Bank may impose transaction limits on card payments made through its POS machines, depending on factors such as the type of card, merchant category, and regulatory guidelines. Check with your bank for specific transaction limits applicable to your card.

9. How can I verify the transaction amount before making a payment at a POS machine?

- Before making a payment at a POS machine, the merchant should display the transaction amount on the screen or provide you with a printed receipt showing the amount. Verify the amount before proceeding with the transaction.

10. What should I do if I suspect fraudulent activity on my card after using a POS machine?

- If you suspect fraudulent activity on your card after using an Indian Overseas Bank POS machine, contact your bank immediately to report the incident and request for card blocking. Monitor your account statements regularly for unauthorized transactions.

11. Can I request for a printed receipt after making a payment at a POS machine?

- Yes, after making a payment at an Indian Overseas Bank POS machine, you can request a printed receipt from the merchant as proof of the transaction. The receipt will typically contain details such as the transaction amount, merchant name, date, and time.

12. How can I locate merchants accepting card payments through Indian Overseas Bank's POS machines?

- You can locate merchants accepting card payments through Indian Overseas Bank's POS machines by looking for the POS terminal at the merchant outlet or checking for signage indicating card acceptance. Additionally, you can inquire with the merchant directly.

13. Can I use my card for contactless payments at Indian Overseas Bank's POS machines?

- Yes, Indian Overseas Bank's POS machines support contactless payments using cards equipped with Near Field Communication (NFC) technology. Simply tap your card on the POS terminal to make a contactless payment.

14. Are there any charges associated with using Indian Overseas Bank's POS machines?

- Indian Overseas Bank may levy merchant service charges on transactions processed through its POS machines as per the charges defined by Regulatory Guidelines and Consortia card networks. However, MDR will not be passed on to the end user customers as per prevailing guidelines by their card issuer.

15. What should I do if I encounter technical issues while using an Indian Overseas Bank POS machine?

- If you encounter technical issues while using an Indian Overseas Bank POS machine, inform the merchant immediately, who may troubleshoot the problem or provide an alternative payment method. If the issue persists, contact Indian Overseas Bank's customer support for assistance.

16. Can I use Indian Overseas Bank's POS machine for EMI transactions?

- Yes, Indian Overseas Bank's POS machines support Equated Monthly Instalments (EMI) transactions for eligible purchases. You can inquire with the merchant about the availability of EMI options and terms.