Every sector across the globe is undergoing rapid digital transformation. Businesses are adopting newer technology to enhance their customer experience and operational efficiency, irrespective of size. POS (point of sale) system is one such digital solution that has become essential for businesses of all sizes today. The POS (point of sale) system and contactless payments like QR codes have become more relevant in India after the pandemic. The Government’s ‘Digital India’ initiative, implementation of Goods and Services Tax (GST), and e-commerce integrations have also contributed to the significant shift towards POS solutions and contactless payments.

POS systems not only enhance the overall customer experience but also streamline business operations and improve efficiency, which can contribute to India’s growth story. It is quite simple for businesses in India to avail the POS solution.

Banks like IndusInd Bank offer POS solutions and QR code-based payment solutions to their current account customers. This article aims to provide comprehensive details on what is POS and how businesses can digitally order POS machines, SoundBoxes, QR codes, etc.

What Is POS In Banking?

POS (Point of Sale) solutions in banking typically include hardware (POS terminal) and software applications that help merchants streamline their operations by accepting electronic payments. Any service-based business such as restaurants, retail stores, vendors, hotels, etc. can use POS solutions to enhance customer experience. It is a convenient and secure way to transact and improves efficiency for both customers and merchants.

IndusInd Bank’s POS Solution

IndusInd bank current account holders can avail of new-age POS solutions that back both contact and contactless cards with an array of POS machines. Security and competitive pricing are the key features of IndusInd bank POS solutions. You can easily open current account online and order a POS device with minimal documents. To order POS online, here are the simple documents needed:

1. Merchant application form (to be filled out online)
2. Identity proof
3. Address proof
4. Business legality proof

Merchants having IndusInd Bank current accounts can also avail of SoundBox, a hardware component of point-of-sale. It is quick and simple to open an IndusInd bank current account online. SoundBox generates an instant audio alert or confirmation of a successful transaction upon receiving the digital payment from customers. Merchants using IndusInd Bank’s POS and QR solutions are eligible to order Soundbox and it requires no additional documents.

Also read: All about Current Accounts – Types, Features, Eligibility, and more

IndusInd Bank’s QR Solutions

Quick response or QR code is a two-dimensional bar code that can be scanned using a smartphone camera/scanner to enable contactless payments. It is a secure and hassle-free facility that accepts payments through UPI applications like BHIM, Google Pay, PhonePe, and Paytm. You can open current account online and avail of the IndusInd Bank’s QR code solution digitally in no time. To apply for Bharat QR or QR solutions online, here are the simple documents needed:

1. Merchant application form (to be filled out online)
2. Identity proof
3. Address proof
4. Business legality proof
5. Agreement terms & conditions to be hosted through the link (PDF will be shared)
6. Any other relevant document as requested.

You can avail of the benefits of all these merchant acquiring services offered by IndusInd Bank when you open a current account online. Opening an IndusInd Bank current account is hassle-free work that can be done in a few minutes. Be it a small street vendor or a large retail chain, these digital solutions are essential for business growth.

Also read: Documents required to open a current account

Conclusion

In conclusion, POS solution plays a crucial role for businesses of all sizes that deal with transactions. Driven by digital innovations, POS solutions, QR, and SoundBox technology offered by banks and financial institutions are contributing hugely to business efficiency.  It enhances customer experience, streamlines transactions, and pushes the country towards a cashless economy.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.

Starting a business requires planning, especially in managing finances. One of the crucial steps for a new business is selecting the right current account. A variety of current accounts are available in the market, designed to meet the specific needs of start-ups. 

Here’s a guide to help you choose the right current account for start-ups and how it can enhance your business’s financial health.

How to Choose the Right Current Account for Start-ups?

Before you select a current account for your start-up, consider the following factors:

1. Business Needs

First, evaluate the financial needs of your business. Does your start-up require frequent transactions, or do you need an account for holding funds? Understanding these aspects will help you select an account that offers relevant features.

2. Business Scale and Goals

 Newer businesses may find certain current account types to be a better fit. In contrast, established businesses would require different things. It is crucial to review the existing scale of your start-up business and the growth goals you may have in mind. Depending on those, you can choose from a variety of current accounts. 

IndusInd Bank offers multiple current account options for diverse business types and needs, like:

1. Indus Tarakki Account – Ideal for smaller businesses, retailers, merchants, and traders.
2. Indus Premier Current Account – Suitable for sole proprietors, partnerships, trusts, limited companies, limited partnerships, and more.
3. Indus Freedom Current Account – Ideal for small to medium businesses. 
4. Indus Select Current Account – Ideal for medium-sized businesses.  

To open a Current Account with IndusInd Bank, visit our website or your nearest bank branch. 

3. Transaction Limits and Charges

Look for accounts with high transaction limits and low or no charges for account maintenance or other services.

Some transactions you need to be aware of include:

• Minimum balance non-maintenance charges 
• Cheque deposit fees
• Outstation cheque collection charges
• Chequebook issuance charges
• No transaction charges
• Cheque return charges
• Debit Card annual fee, and more. 

4. Digital Banking Services

As a start-up, you must choose a digital-savvy banking partner to make your banking experience easier. Opt for banks that offer seamless digital and mobile banking facilities, so that you can manage your finances on the go.

For instance, you can carry out complex transactions, such as bulk upload for salary credits, vendor payments and even multi-party NEFT/RTGS digitally with the Indus Direct platform by IndusInd Bank. 

5. Overdraft Facilities

Start-ups may face gaps in cash flow. Hence, an overdraft facility is crucial when choosing a current account for start-ups. This facility allows the account holder to access funds despite a low account balance. This can help the business resolve cash flow issues. 

Also Read: The Importance of Overdraft Facility in Current Account

Why Choose IndusInd Bank as Your Banking Partner?

By opening a current account with IndusInd Bank, you can get the following benefits:

1. Choice Money ATM

At our Choice Money ATMs, you can pick what denomination of notes you want to withdraw. 

2. Flexi-Transaction Current Account

With this feature, you can design your banking services to fit your start-up business needs with customisable transaction limits.

3. Check on Cheque

Access images of cleared cheques anytime via IndusInd Bank’s Net Banking portal. These images are also available in your monthly e-statement.

4. My Account My Number

Choose an easy-to-remember account number, such as your date of birth, mobile number, or any number pattern related to your business/personal identity. 

Conclusion

Selecting the right current account is important for the smooth financial operations of your business. Keep the above points in mind when choosing the best account for start-ups. With IndusInd Bank, you can enjoy tailored banking solutions that support your entrepreneurial journey.

Ready to take your start-up to the next level? – Open a Current Account online with IndusInd Bank now! 

Disclaimer:

The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.

Many banks offer a customised current account number. You can use any set of numbers as your account number. It is possible to select a customised account number at the time of opening a new bank account. This feature allows individuals and businesses to align their preferences with their banking needs. 

Whether it is for convenience, to stand out, or personal reasons, having an account number of your choice provides several benefits. 

In this article, we will explore how you can get a customised account number and the benefits it can offer. 

How to Get a Customised Account Number?

With IndusInd Bank’s ‘My Account My Number’ feature, you can get a customised account number and add a personalised touch to your banking experience. 

Here’s a step-by-step breakdown of how you can do that:

1. Visit the Bank or Website

Start by visiting your nearest IndusInd Bank branch or accessing the bank’s website. In case of the latter, navigate to the Current Account opening tab. 

You will be required to enter a set of personal and business details as a part of the current account application process.  

2. Choose Your Number

Think about the number you want. This could be something easy to remember, like an important date, a series of lucky numbers, or a pattern that resonates with you.

3. Check Availability

IndusInd Bank will check the availability of your chosen account number. Since every account number must be unique, it could happen that your preferred personalised account number has already been taken by someone else. In case of unavailability, you can use an alternative number. 

If your chosen account number is available, you can follow through with the rest of the account opening process. This includes entering important details, submitting the required paperwork, and awaiting approval. 

After approval, you will receive confirmation from the bank. Your new customised current account number will get activated, and you can start using it for all your banking needs.

Also Read: Do’s and Don’ts of Getting a Current Account

Benefits of a Customised Account Number

A customised account number is beneficial because of the following reasons:

1. It is Easier to Remember 

When you have an account number of your choice,  you are more likely to remember it. This can be useful for businesses with multiple accounts and for those who frequently share their account details with clients and partners.

2. It Can Help with Branding

You can choose an account number that aligns with your business identity, which can enhance your overall brand image. It adds a professional touch and can be part of a business strategy to establish a strong brand presence.

3. It Adds Significance to Your Banking

Having an account number that holds personal or business significance can make your banking experience more meaningful. Whether it’s a special date, a lucky number, or a unique pattern, it adds a personal touch.

4. It Shows Professionalism

A customised number can reflect the professionalism of your business. It shows attention to detail and dedication to creating a unique identity in every aspect of your operations.

5. It Adds a Level of Security

For some, a customised account number can add an extra layer of security. This is because one is less likely to guess it compared to a standard sequence of numbers.

By utilising the ‘My Account My Number’ feature from IndusInd Bank, you can enjoy the above benefits. 

Conclusion

A customised current account number is easy to apply. In addition, it offers a range of benefits, from enhancing your brand image to offering a level of security and more. Ensure to choose an account number that is in sync with your personal or professional preferences for an ideal banking experience. 

Ready to give your business a personalised touch? Open a Current Account online with IndusInd Bank today and enjoy the benefits of a banking experience designed just for you.

Disclaimer:The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.