SBI plans 1.5 lakh POS terminals next fiscal

Last Updated: Friday, January 1, 2010 - 18:16

New Delhi: In a bid to expand its fee-based
income, country`s largest lender State Bank of India is
planning to place about 1.50 lakh point of sale (POS)
terminals for debit and credit card payments across the
country in the next fiscal.

"The present EOI (expressions of interest) is for the
purchase of around 1.35-1.50 lacs POS terminals across the
country during the first year of operations or 2010-11 and
also for the managed services during the warranty period or
the first year of deployment," SBI said in its Request For
Proposal (RFP).

The last date for submission of bids is January 25, it
said, adding, it plans to deploy six lakh POS terminals in the
first five years of its operations.

Last year, the bank had floated RFP for selection of
Joint Venture (JV) partner for merchant acquiring business and
the selection process is at an advanced stage.

The merchant acquiring business would be carried out
through a wholly-owned subsidiary, which would include
acquiring bank identification numbers (BINs) from the schemes,
as well managing services for PoS terminals among others.

The managed services would include deployment of POS
terminals at customer location, their replacement, merchant
training and maintenance among others.

PTI



First Published: Friday, January 1, 2010 - 18:16
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