HYDERABAD: With almost 30% rise in retailers' demand for swipe machines -point-ofsale terminals -to carry out cashless transactions, banks have failed to supply 35,000 devices across Telangana even a month after orders were placed. Banks, which have to procure machines from suppliers with import licences, confirmed that the deadline can be met only after February 2017.
"As a corporate policy , banks deliver swipe machines within 3-6 days. This is delayed due to a spurt in demand as these are not indigenously manufactured. At least 35,000 machines will be delivered in a phased manner," said Satish Dhawan, general manager of Micro, Small and Medium Enterprises wing of State Bank of Hyderabad (SBH) told TOI.Vendors import POS terminals from China and Vietnam.
According to data with banks, 60,000 applications are pending due to supply crunch.They are requesting suppliers to give them machines in a phased manner to customers, who need them urgently . In September, state had 33,026 machines and this rose to 34,677 in October. The number shot up to 50,951till December 8.
Another worry for bankers is that the service provider takes time to configure the ma chines with the software and provide identification numbers to buyers. "
Negligence in configuration can lead to money going to wrong accounts so service providers also want to go slow and they don't want to take chances despite the rush," a manager of the bank said.This can cause a week's delay after the machine is delivered.
Bank managers say supply of low-cost AMPOS where bills can be swiped through a mobile supply is better. But many don't prefer them as customers want receipts, instead of mobile alert messages for payment.
Shopkeepers waiting for machines remain a worried lot as they face losses with people still running low on cash.
Source: timesofindia.indiatimes.com