KVB inks pact with Corp Bank
Karur Vysya Bank has entered into an MoU with Corporation Bank to launch point of sale (PoS) services.
MRL Posnet is the service provider for implementation of the PoS services. The company will help KVB by way of entering into agreements with merchants, placing the PoS machines at the merchant outlets, besides taking care of the settlement and reconciliation processes. Prizm Payment Services will provide the switching solution for the transactions.
PT Kuppuswamy, MD & CEO, Karur Vysya Bank, said, “the bank has been adapting technology to deliver value packed services to its customers at affordable prices. There has been a consistent demand for introduction of POS services from our branches and merchant customers and also inquiries for providing such services from others. KVB already has a Visa debit card base of over 1.7 million cards and merchant customer base of over 100,000.