J&K Bank launched a two-month special merchant acquisition drive today offering a host of concession to business establishments. The drive was formally launched by Sahibzada Ghulam Mohi-ud-Din, President of the Bank, at the bank's corporate headquarters at a simple function.
While speaking on the occasion, Sahibzada said that a shopkeeper or any business establishment could reap lot of benefits and see his business grow by installing a Point of Sale Machine (PoS) at his business unit. "Instead of drawing cash at an ATM and then using it to buy goods at shops, cardholders should be encouraged to use the cards directly at the merchant establishments. This is a step towards a cashless era. For the shopkeepers, the advantage of PoS transaction is getting the money credited to their accounts immediately. So, they don't have to worry about cash management. They also avoid the hassle of handling soiled notes."
He further stated that merchants should now prefer the J&K Bank PoS terminals, because documentation and back-end work is taken care of. "Besides, the card usage also helps to avoid the problem of counterfeit notes that some of them face. Migrating from cash to ATM is to save cost and time. But moving from ATM to PoS means more convenience for the customer," he said.