CorpBank signs pact with Prizm, MRL Posnet

Mangalore-based public sector lender, Corporation Bank, has signed agreements with Prizm Payments Services Pvt Ltd and MRL Posnet Pvt Ltd for an end-to-end POS deployment engagement.

Under the agreement, the bank will act as a sponsor and settlement bank for the settlement of the card transaction amounts with the merchants relating to the card transactions done on the POS network deployed by the partners. Prizm Payments would provide the technology and transaction processing platforms whereas MRL Posnet will provide the front end activities of merchant sourcing, sign-up and merchant management.