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MOPAD: SBI launches unified payment terminal

SBI makes accepting digital payments easier India's largest bank- State Bank of India (SBI) has launched its Multi Option Payment Acceptance Device (MOPAD) for digital payments convenience of merchants and consumers.
MOPAD: SBI launches unified payment terminal
  • It aims at providing digital convenience to customers and ease of doing business for merchants at the same time.
  • SBI will roll-out this new initiative on all SBI PoS terminals in a phased manner.

About Multi Option Payment Acceptance Device (MOPAD):

  • MOPAD aims at providing convenience to merchants by eliminating multiple machines that they keep in order to facilitate transaction from different sources.
  • It will allow customers to make payments through cards, Bharat QR, UPI and SBI Buddy (e-wallet) on a single Point-of-Sale (PoS) terminal.
  • It will help merchants to integrate different kinds of transaction through one PoS machine, which will help in eliminating their operational inconveniences and streamline the cash flow.
  • Customers will receive a charge-slip as proof of payment after processing any type of transactions through MOPAD.
  • This multipurpose initiative will also enhance the digital ecosystem and help the bank in driving the economy towards a less-cash society.

Question:

Q. Keeping in mind the digital payments convenience of merchants and consumers, what has the State Bank of India launched?
a. Single Option Payment Acceptance Device (SOPAD)
b. Dual Option Payment Acceptance Device (DOPAD)
c. Multi Option Payment Acceptance Device (MOPAD)
d. None of the above
MOPAD: SBI launches unified payment terminal MOPAD: SBI launches unified payment terminal Reviewed by Inderjeet Virdi on August 10, 2018 Rating: 5

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