Swipe machine for our shop - which bank to choose

Swipe machine for our shop - which bank to choose

Score: 4 Votes: 4
Score: 4 Votes: 4
Score: 4 Votes: 4
Score: 4 Votes: 4
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Deal Subedar
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hi guys,
we have a small shop and due to this 500/100 ban, people started asking for swipe and pay but we dont have any in our shop.

so any recommendation for merchant account in bank for swipe machine.
Thanks

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28 Comments  |  
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Deal Newbie
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Have the same query

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Deal Subedar
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+1

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Deal Lieutenant
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Also one more question by me…
My friend asked for this…

Will it be beneficiary to install PayTM QR code scanner in local general store shop???

Can they give any offers in near future at its installation?

Giphy2
Deal Subedar
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@Amit Goyal wrote:

Also one more question by me…
My friend asked for this…

Will it be beneficiary to install PayTM QR code scanner in local general store shop???

Can they give any offers in near future at its installation?

Yep if you got store get Paytm or Freecharge as payment

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Deal Subedar
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@Amit Goyal Buddy, I will suggest your frnd to go for Swipe Machine, better than PayTm QR Code Scanner.

Chances of any offer is very less i think.

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Deal Subedar
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sherlock wrote:

@Amit Goyal Buddy, I will suggest your frnd to go for Swipe Machine, better than PayTm QR Code Scanner.

Chances of any offer is very less i think.

all users dont have smartphone with internet, so swipe machine or EDC machine is better

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Deal Cadet
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I would also suggest to see payumoney POS. Its pricing is very lower.

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Deal Subedar
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are you having a current account for the shop? if yes, first check with the same bank for the charges of POS swipe machine. they might give you the most competitive rates. all swipe machines have transaction charges. in contrast, the e-wallets normally do not have transaction charges and only charge for withdrawal to bank. the decision to opt for swipe machine or ewallet, or both, would depend on your customer profile as well as individual transaction values. there are practically no charge of setting up paytm but there are certain charges of setting up swipe machine.
I would suggest that you start with paytm and see the response. if your customers still want swipe machine, you can consider that as a second stage.

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Deal Cadet
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go for union bank of india or sbi

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Deal Lieutenant
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All big retailers have Plutus/Pine swipe machines .This is provided pine labs . Check their fees and structure .

https://www.pinela...om

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Deal Cadet
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check out payumoney swipe machine

https://www.payumoney.com/mpo...ml

Bank POS :
Avg monthly rental of Rs. 700/Month
Over 3 Years it costs Rs. 25,200
PayUmoney POS:
One time cost of Rs. 8500

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Deal Cadet
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PayUmoney is good option. Till you get your pos machine, get paytm as option.

Every shop here is using paytm

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Deal Cadet
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Also get registered on UPI, and encourage customers to do so as well. Almost free transfers, directly to your bank accounts. Much better than paytm.

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Deal Subedar
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ymind13 wrote:

Also get registered on UPI, and encourage customers to do so as well. Almost free transfers, directly to your bank accounts. Much better than paytm.

main problem is many banks, including even SBI, have not linked themselves with UPI.

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Deal Subedar
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pentiumd wrote:

check out payumoney swipe machine

https://www.payumoney.com/mpo...ml

Bank POS :
Avg monthly rental of Rs. 700/Month
Over 3 Years it costs Rs. 25,200
PayUmoney POS:
One time cost of Rs. 8500

banks own the machine and you pay rental. so in case of machine problem, they will replace without charge. from the model of payumoney it appears that the payment is for upfront purchase. in that case, what happens if there is a technical/hardware problem with the machine.

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Deal Subedar
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@Amit Goyal wrote:

Also one more question by me…
My friend asked for this…

Will it be beneficiary to install PayTM QR code scanner in local general store shop???

Can they give any offers in near future at its installation?

Take all the modes of payment which u can….

Only take care that money comes …..

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Deal Cadet
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panchabhut wrote:

banks own the machine and you pay rental. so in case of machine problem, they will replace without charge. from the model of payumoney it appears that the payment is for upfront purchase. in that case, what happens if there is a technical/hardware problem with the machine.

payumoney has to take care if there is machine technical problem. they just cant loose a customer paying 2% on every transaction. they will get bad name if they do so.

if there is any problem then they may arrange another machine immediately. just replace SIM card & start transactions.

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Deal Subedar
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pentiumd wrote:

payumoney has to take care if there is machine technical problem. they just cant loose a customer paying 2% on every transaction. they will get bad name if they do so.

if there is any problem then they may arrange another machine immediately. just replace SIM card & start transactions.

do you have any personal experience or know someone who had a personal experience. normally in this model, the user would be forced to pay again the upfront cost of the new machine.

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Deal Subedar
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Today show in paper Paytm going to launch POS

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Deal Cadet
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BATMAN07 wrote:

With Paytm, can we get swipe machine?

Apps has enabled feature that can let customer enter his card number and he gets OTP and then payment is made to merchant

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Deal Cadet
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Bro, out of 100, only 10 people will use it. People usually do not enter their card details easily. Flop idea by Paytm

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Deal Newbie
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Hie
I am also a retailer I have taken swipe machine from Ongo there plans are really good. There is a lifetime free rental plan which cost rs. 20700 for a GPRS enabled machine. There services are also good.

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Deal Cadet
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Try m swipe

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Deal Subedar
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pikkuboss wrote:

Bro when i try to apply for merchant, It’s showing Internal server error.

same happening here…

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