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Demonetisation: Swipe, press, click and pay to go cashless
These tools are meant to facilitate transactions not only for the payee, but also for merchants - both small and big. A merchant can acquire a PoS machine from a bank in which he or she holds an account. Different lenders have different eligibility criteria for deciding whether a terminal should be provided to a merchant or not. For example, the Union Bank has prescribed that the turnover of the merchant through cards should be over Rs 50,000 per month.
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