How does a typical card transaction work?
How do I open an ICICI Bank account?
On completion of the sign-up process, we would assist you in opening a bank account with ICICI Bank at any of the ICICI Bank locations across India.
Can I use my existing ICICI Bank account?
Yes. If you already have a current account with ICICI Bank, you may use it to receive payments.
What are the transaction charges?
There is a % fee that would be charged towards each approved transaction that would be deducted from the payment credited to your bank account. There is also a fixed monthly charge if the transaction values are below a specified threshold limit.
How can I receive payments from customers outside India?
Customers outside India can make payments using their International Credit Cards. Payments received from them will be credited to your account.
Can I use the same account for international transactions?
Yes.
What does a merchant need to start accepting card payments?
Starting card acceptance at your outlet is extremely easy. You will need the following to start accepting card payments.
Some basic financial and business documents
A current account with ICICI Bank
A telephone line to be connected to the POS terminal
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What documents do I need to provide for enabling card acceptance?
Your business would require to provide the following documents in addition to completed and signed copies of the Merchant Application form & Acquiring Bank agreement:
Business Details ( Any 2)
Shops and Establishment Registration certificate (current)
Sales Tax Registration certificate
Telephone / Electricity bill
Partnership agreement (compulsory for partnerships)
Trade License
Rent / Lease agreement
Certificate of Incorporation
VAT Certificate
Financial ( Any 1 )
Bank Statement
Income Tax
Return Balance Sheet
