State Bank of India has launched all in one Pos terminal ‘MOPAD’ to accept any type of digital payments i.e. Credit Cards, Debit Cards, Bharat QR, UPI and SBI Buddy (eWallet). MOPAD stands for ‘Multi-option payment acceptance device‘.
SBI insisted that MOPAD will change the existing digital payment services at merchant outlets and customer need not to carry any thing other than a mobile. Customers would receive a charge-slip as a proof of payment as against the existing practices where payment made through Bharat QR doesn’t generate the charge slip.
MOPAD facilitate transactions from cards to QR code based payments. This would help merchant to eliminate multiple payment machines for different type of payments.
SBI has 6.23 lakh PoS terminals where debit and credit cards are swiped to make payments.