Q. What is an Oceanic POS Terminal?
A. Oceanic POS allows merchants to receive payment from their customer using their electronic card. With a POS terminal, a merchant has an alternative means of receiving payments rather than the traditional mode of accepting cash.
Q. Benefits to Merchants
A.
- No cash counting and cash movements.
- Lowers operational cost and minimizes cash theft
- Provides ease of payment for customers
- Eases merchant reconciliation at the end of the business day
Q. How does the POS work?
A. The cardholder swipes or inserts a debit card into the terminal and enters the amount and card PIN. The payment is made by debiting the customer's account in their Bank and crediting in the merchant's account in Oceanic Bank.
Q. How long does it take to settlement the merchant?
A. The merchant account is credited the next working day after the transaction was done
Q. Who needs an Oceanic POS terminal?
A. A merchant or anybody who is willing to accept electronic payments at his outlet in return for goods and services provided.
Q. Cards accepted by Oceanic POS terminals?
A. Interswitch - Verve Cards, eTranzact Cards, VPay & VISA Cards and Maestro & MasterCard (coming soon)
Q. How much will it cost to deploy Oceanic POS terminal?
A. The terminal is free to the merchant
Q. What are the charges associated with using Oceanic POS terminals?
A. Transaction charges vary per industry and platform. Please contact us for further information
Q. How long will it take to deploy Oceanic POS terminals?
A. One week
Q. Who do I contact for a faulty terminal?
A. Please contact your account officer or call E-business on 234-1-2712637 or email us: pos@oceanicbank.com
Q. How do I request for a new or additional POS terminals
A. Please contact your account officer or call Oceanic Bank’s Retail Banking on 234-1-2718013, 01-2714732 or email: rbge@oceanicbank.com
