Owners of many shops and establishments both in Srikakulam and Vizianagaram districts have been moving around banks to get ePOS (electronic point of sale) machines to improve their business in festival season.
Earlier, the banks used to promote use of the machines. But now shop owners are queuing up before banks for the facility. As they were left with no other option, they decided to get ePOS machines. Many banks don’t collect deposit amount for providing the facility as they would get transaction fee.
A few small and medium range textile shops have already introduced cashless transaction facility to improve the business which has been badly affected for the last one month due to scrapping of ₹ 1,000 and ₹ 500 notes.
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“Earlier, we used to worry about the transaction charges if payments were accepted through ePOS machines. But the government’s assurance to waive those charges made us to use the machine in our shop,” said B. Srinivasa Rao, a textile shop owner of Pusapati Rega, Vizianagaram district.
Around 24,000 machines were needed for all the shops and establishments in Srikakulam and Vizianagaram districts but the availability has not even crossed 6,000, according to sources.
Many owners are worried with the delay in supply of ePOS machines as the business would go to the shops which have them. “The government should take steps on a war-footing to supply the machines. Otherwise, many textile shop owners who kept huge stocks will incur losses in Sankranti season,” said J. Ramana, a textile shop owner of Balaji Market, Vizianagaram.
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Srikakulam Wholesale and Retail Cloth Merchants Association president P. Srinivasa Rao said that the traders and customers were ready for cashless transactions but the technological support was needed. He urged the government to permanently waive the transaction fee since the government would earn more income with the record of every business deal at all levels.
The Commercial Taxes Department has been monitoring the supply of ePOS machines on a day-to-day basis. “We are requesting the banks to meet the demand since the government is insisting on cashless transactions at grass root level. We hope to get more ePOS machines in a couple of weeks,” said Deputy Commissioner (Commercial taxes) N. Srinivasa Rao.