Personal Banking


VII. FAQs about Business Express POS

1. Question: Which banks' UnionPay cards can your POS accept?

Answer: All cards bearing the UnionPay logo issued by all banks across China may be swiped for consumption.

2. Question: How are the handling charges for card swiping collected?

Answer: Our bank classifies merchants based on their attributes in line with the requirements of regulatory authorities and sets the handling charges for merchants based on their categories. The rate of handling charge ranges from 0.5% to 2%, and a preferential rate is also available based on the characteristics of different merchants.

3. Question: When can my funds arrive in account after I have a card swiped?

Answer: In general, the funds will arrive in your settlement account opened with IB in the early morning the next day.

4. Question: Is it difficult to operate a POS machine ? What shall I do if there's any problem during operation?

Answer: It is very simple and easy to operate a POS machine. After the execution of an agreement, we will provide professional training on operation. In case of any problem during the process of operation, you may contact IB in a timely manner via the number 95561-4, or contact your special customer manager.

5. Question: What procedure should I go through to install POS?

Answer: You first need to meet the basic requirement, that is, you should have a legal business qualification, provide photocopies of business license, tax registration certificate (or relevant proof for tax payment ), and ID card of legal representative or person-in-charge, and have fixed business premises, telephone line and power source. After the examination and approval of our bank, POS can be installed.

6. Question: If a customer receives a SMS notice from the issuing bank that indicates his or her money has been deducted for consumption, but POS indicates that the transaction fails and the purchase slip is not printed, how can we deal with such a situation?

Answer: Because there are many links in the process of using bank cards, there may be such a situation due to an error occurring in a link occasionally. If POS shows that a transaction fails and the purchase slip is not printed, generally speaking, the transaction is not su ccessful.

Under such circumstances, the merchant may swi pe another 0.01 yuan, and then request the cardholder to contact the issuing bank to check whether the money is deducted or not. If it is confirmed that the money is not deducted, you can swipe the card again.