NSE: 
Federal Bank - Electronic POS
Fed-e-POS

Fed-e-POS

Fed-e-POS

Now a merchant doesn't need a POS machine to accept card payments. Federal Bank presents the new Fed-e-POS, electronic point of sale, a self-service portal for merchants to accept cashless payments.

To accept payment, merchant will key in the mobile number and bill amount of the customer in the E-POS portal. Customer receives an SMS in his/her smart phone with the payment URL, which redirects them to the payment page. Customer can complete the transaction using the debit/ credit card credentials. In short, merchants can accept debit/ credit card payments without physical POS machines, monthly rentals etc.

 

Login to Fed-e-POS Payment Portal

  • Features & Benefits
  • Eligibility
  • Merchant Registration
  • Customer Payment
  • Payment modes
  • Settlement
  • Simple registration process
  • Collect payments instantly
  • Merchants can initially collect payments up-to a limit of Rs.25000. No upper limit once the documentation is completed
  • Merchants can use Fed-e-POS portal in their computer, laptop, Tab, Smart phone etc
  • Real time transaction status to merchant & customer
  • View reports on success/ pending/ failed transactions
  • Merchant need not be a Federal Bank customer to start using Fed-e-POS facility
 
  • Any merchant with wired / broad band internet connectivity is a prospective merchant for Fed-e-POS facility
  • Merchant shall perform a onetime registration in the Fed-e-POS portal https://epos.federalbank.co.in  by giving the necessary details. 
  • Password (Pin) will be sent to the merchant mobile number after successful completion of registration process.
  • Merchant logs into the Fed-e-POS portal using the mobile number and password received as SMS.
 
  • Customer approaches the merchant for making payment
  • Merchant enters customer mobile number, bill amount, bill number in the Fed-e-POS portal
  • Customer gets an instant SMS with a unique payment link.
  • Upon clicking the link, the customer will be redirected to the payment page to enter his/her card credentials (Card No, Card holder name, Expiry date, CVV etc)
  • Customer completes the transaction successfully
 

Merchants can collect payments through credit/ debit cards using Fed-e-POS portal. Payments through UPI, Net Banking (Fednet/ other Banks) will be enabled shortly.

Settlement to Merchant accounts (Federal Bank Customer)

 

  • The amount collected from customers through Fed-e-POS facility, will be first credited to an internal pool account opened exclusively for Fed-e-POS. The settlement from pool account to merchant account will be initiated once the merchant has visited the branch and completed the PG documentation formalities.
  • Settlement to merchant account (If the merchant is an existing Federal Bank customer)
  • Merchant visits his/her respective branch to receive the funds collected through Fed-e-POS to their savings/ current account.
  • Branch executes the payment gateway agreement after verifying the merchant profile and nature of business.
  • Branches will internally process the requirement for releasing funds collected by merchants through Fed-e-POS, configuring transaction rates and payouts.
  • Transaction amount collected through Fed-e-POS will be settled to merchant account after deducting the applicable transaction charges
  • After completing the above documentation formalities, merchants can use Fed-e-POS portal without any limit.
 

Settlement to merchant account (Non- Federal Bank Customer)

  • Merchant visits nearest Federal Bank branch to receive the funds collected through Fed-e-POS.
  • Merchant has to open current account with the branch to receive the funds collected through Fed-e-POS facility
  • Branch opens the merchant account after verifying the merchant profile, nature of business and executes the PG agreement.
  • Branch shall internally process the requirement for releasing funds collected by merchants through Fed-e-POS, configuring transaction rates and payouts.
  • Transaction amount collected through Fed-e-POS will be settled to merchant account after deducting the applicable transaction charges
  • After completing the above documentation formalities, merchants can use Fed-e-POS portal without any limit