http://www.rediff.com/business/special/the-foot-soldiers-of-modis-cashless-india/20161202.htm
Initial investment 25,000 to 35,000 rupees
Sim Card, Signal Connectivity, Electricity & Wiring, Place to allow customer to key-in the pin, printing paper, servicing of POS Machine(AMC), Settlements with bank (Time & charges for it)...
transaction fees:
Each transaction (free till end of 2016):
0.75% of transaction, if transaction amount < 2000 ==> (~20 Rs maximum)
1% of transaction, if transaction amount > 2000 ==> (minimum 20 Rs & upwards)
obvious, this will be borne by customer, which is incentive to use cash...
Who bears the cost of Initial investment?
To break even this investment in say 1 years...~69 Rs per day is the cost. POS Machine must provide business above 69 Rs.
Like police makes CCTV mandatory, this POS Machine will add to cost of operating business.
It is uncertain, if merchant & customer benefits, but all the intermediaries facilitating the POS Machine (Bank, POS Machine manufacturer, Servicing Company, Sim Card Provider, Electricity company..) will make a killing.
Initial investment 25,000 to 35,000 rupees
Sim Card, Signal Connectivity, Electricity & Wiring, Place to allow customer to key-in the pin, printing paper, servicing of POS Machine(AMC), Settlements with bank (Time & charges for it)...
transaction fees:
Each transaction (free till end of 2016):
0.75% of transaction, if transaction amount < 2000 ==> (~20 Rs maximum)
1% of transaction, if transaction amount > 2000 ==> (minimum 20 Rs & upwards)
obvious, this will be borne by customer, which is incentive to use cash...
Who bears the cost of Initial investment?
To break even this investment in say 1 years...~69 Rs per day is the cost. POS Machine must provide business above 69 Rs.
Like police makes CCTV mandatory, this POS Machine will add to cost of operating business.
It is uncertain, if merchant & customer benefits, but all the intermediaries facilitating the POS Machine (Bank, POS Machine manufacturer, Servicing Company, Sim Card Provider, Electricity company..) will make a killing.
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