e-Circular

CORPORATE STRATEGY & NEW BUSINESSES. Sl. No. : 957/2011 - 12 Circular No. : CS&NB/CS&NB-MAB/37/2011 - 12 Thursday,February 02,2012. . The Chief General Manager State Bank of India, All Circles/ CAG/MCG Dear Sir/ Madam, Merchant Acquiring Business (MAB) Marketing Strategy: Floor Rates for MDR Merchant Acquiring Business is being conducted in-house by the Bank. Circles have been given a target for sourcing of 20,000 POS Terminals during the current financial year, to achieve a target of 25,000 POS terminals by 31st March 2012. 2. A special promotional campaign ‘Hamara Bank Hamara POS’ was launched from 21st November 2011 to 31st March 2012 to incentivise operating staff at all levels for sourcing of POS applications. 3. It is observed that, the business mobilisation in Merchant Acquiring Business is not gaining desired momentum. Therefore, in order to facilitate market penetration and also to minimise the uncertainties in MDR offering, it has been approved by the competent authority to quote the following floor rate by the branches/operating units, for a period of six months, w.e.f. 1st February 2012, subject to review after three months. MDR for Off-us Txns (Floor rate) 1.50% MDR for On-us Txns (Floor 1.10% Rate) Monthly Rental PSTN – Nil Desktop GPRS - Rs. 200/- p.m Portable GPRS - Rs. 400/- p.m. Note: While Circles will have the option to offer the MDR up to floor rate, in case of On-us and Off-us transactions, they should endeavor to book business above floor rate. 5. Please advise suitably all the branches/sales teams/operating units, under your administrative control, to make full use of the opportunity and book new business. Yours faithfully, Chief General Manager (CS&NB)

Sign up to vote on this title
UsefulNot useful