Point of SalePOS
बिक्री बिन्दु
Also called POS Terminal, Card Swipe Machine
NRB rules
NRB limit: No extra charge may be taken from customers for card payments at merchant POS or POT machines
NRB Payment System Unified Directive 2082, Directive 5/082 · applies from . Limits change with each monetary policy and directive, so check the latest notice before the exam.
A POS terminal is a device at a merchant's counter that accepts card and other electronic payments for goods and services.
Explained
A POS terminal reads the card by chip insertion, magnetic stripe swipe or contactless tap, captures the PIN where needed and sends the transaction for authorisation. Modern terminals may also display dynamic QR codes.
The flow of a card payment is:
- The cardholder presents the card at the merchant's POS.
- The terminal sends the request to the acquiring bank (the merchant's bank), which routes it through the card network or switch to the issuing bank (the cardholder's bank).
- The issuer checks the balance or credit limit and approves or declines.
- Approved transactions are later cleared and settled, and the acquirer credits the merchant's account after deducting the merchant discount rate.
POS terminals reduce cash handling and provide transaction records. In Nepal, banks deploy POS terminals to merchants, and domestic card transactions are increasingly routed through national switching arrangements. The term point of sale also refers more broadly to the place and system where a sale is completed.
In Nepal
Licensed institutions must ensure that customers paying by card at a merchant's POS or POT machine, such as a department store, mart, hotel or shop, are not charged any extra fee.
व्यापारीको काउन्टरमा राखिएको, सामान तथा सेवाका लागि कार्ड र अन्य विद्युतीय भुक्तानी स्वीकार गर्ने उपकरणलाई POS (बिक्री बिन्दु) टर्मिनल भनिन्छ।
व्याख्या
POS टर्मिनलले चिप, म्याग्नेटिक स्ट्रिप वा कन्ट्याक्टलेस ट्यापबाट कार्ड पढ्छ, आवश्यक भए PIN लिन्छ र कारोबार स्वीकृतिका लागि पठाउँछ।
प्रक्रिया:
१. कार्डधारकले व्यापारीको POS मा कार्ड प्रयोग गर्छन्। २. टर्मिनलले प्राप्तकर्ता बैंक (व्यापारीको बैंक) मा अनुरोध पठाउँछ, जसले कार्ड नेटवर्क वा स्विचमार्फत जारीकर्ता बैंक (कार्डधारकको बैंक) मा पुर्याउँछ। ३. जारीकर्ताले मौज्दात/सीमा जाँची स्वीकृत वा अस्वीकृत गर्छ। ४. पछि क्लियरिङ र फर्छ्यौट भई प्राप्तकर्ता बैंकले मर्चेन्ट डिस्काउन्ट दर कटाएर व्यापारीको खातामा रकम जम्मा गर्छ।
नेपालमा
डिपार्टमेन्टल स्टोर, मार्ट, होटल, पसल लगायतका मर्चेन्टको पीओएस वा पीओटी मेसिनमार्फत कार्डबाट भुक्तानी गर्दा ग्राहकसँग कुनै पनि अतिरिक्त शुल्क लिन नपाइने व्यवस्था अनुमतिपत्रप्राप्त संस्थाले मिलाउनुपर्छ।
Related
Sources
- NRB Payment System Unified Directive 2082, Directive 5/082 (limits and fees)Nepal Rastra Bank
- Wikipedia: Point of saleArticle
- Wikipedia: Acquiring bankArticle
In the syllabus: NBL/RBB/ADBL L4 III
Updated