State Bank of India (SBI) has introduced a unified point-of-sale (PoS) payment terminal called Multi Option Payment Acceptance Device (MOPAD) to eliminate the need for multiple products for accepting different types of transactions.

The new machine accepts payments made using card, unified payments interface (UPI), Bharat QR and SBI Buddy wallet. It is aimed at offering digital convenience to customers and easy business for merchants.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

After every transaction on MOPAD, customer will receive a charge-slip as the proof of payment, which is not available for standard Bharat QR, UPI or SBI Buddy payments.

The merchants will have a single management information system (MIS) for all forms of digital transactions, thereby providing them with complete control over cash flows.

The bank expects its new multipurpose initiative to boost digital ecosystem and help in achieving a less-cash society.

SBI chairman Rajnish Kumar said: “MOPAD will help merchants to integrate different kinds of transactions through one PoS machine which will help in eliminating their operational inconvenience and streamline cash flow.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This is another initiative by the bank towards less-cash economy, which will empower merchants and customers to opt for more digital transactions.”

The bank currently has 623,000 PoS terminals, and plans to roll out the new facility for all these machines in a phased manner.

SBI said that this will lead to more digital transactions as only one terminal is required to be deployed by merchants.