Points of Sale (POS) Merchant Terminals
P.O.S is an abbreviation for Point of Sale which refers to electronic selling stations located in commercial centers, supermarkets and service providing establishments. Bill payment and purchase operations take place through using Visa or MasterCard and without using cash. Bank of Palestine owns a large network of machines distributed all over Palestine that accept cards issued by international organizations such as Visa and MasterCard, this service is provided by PalPay.
Features of POS Service
- Stores contracting with the Bank of Palestine as well as holders of Visa Card and Master Card can benefit from POS service.
- Using cards is less risky than using cash.
- By using P.O.S service, businessmen and women save time .
- Businessmen and women can increase the volume of their sales.
- All sales operations are secured according to Visa Card and MasterCard specifications.
- P.O.S provides wireless devices.
- Customers can be provided with PalPay advanced payment service.
- Bank of Palestine is the only bank in Palestine that provides debit and credit card acceptance service (POS).
- POS station accepts all kinds of cards issued by Visa Card and MasterCard for example such as MasterCard, Maestro, Visa, Visa Electron
Target customers include all businessmen and women, companies and organizations.
Terms for Receiving the Service
- Customers must have a current account or corporate account in the Bank of Palestine
- Customers must demonstrate relation between commercial activity and ownership of business.
- There is no need for documents if customers already have a current account.
- Customers must submit the following documents if they do not have a current account:
- A letter from the company to open a bank account (commercial register) specifying authorized signatories
- Certificate of incorporation
- Identity of authorized signatories on the account