POS is a small hand-held device that comes in two major versions – bio-enabled POS and normal POS. Bankers Realm EFT (BREFT) Switch is a high-end transaction routing engine that allows a
Bank / Macro Finance Institution to drive their ATM, POS or any other electronic delivery channels. The BREFT Channel Manager securely manages and integrates ATM/POS channels through which banking services are delivered, with utmost transparency.
A bio-enabled POS device is used to capture a customer’s biometric information and subsequently link it to their account for authentication purposes. The device can also be used to provide services like cash withdrawal, cash deposit, balance enquiry, mini statements, funds transfer etc. (thus, eliminating the use of ATMs). The added advantage of using prints for authentication with bio-enabled POS is the effective limitation of the margin for fraud.
Cards can be used on both POS devices, they are ideal for remote areas with minimal GPRS coverage. The POS’ battery and size makes it a preferred solution to increase an institution’s customer coverage. They communicate using the BREFT switch, through which data is routed and responses are forwarded. In most cases, these are used as a Mini Branch Solution by organisations that need to reach customers in remote regions.