How To Get Baxi POS: Baxi POS Charges, Daily Target, POS Machine Price and Requirements

Baxi POS is a digital payment platform launched by Baxi, India’s leading ridesharing app. It allows small merchants, shop owners, and service providers to accept digital payments through Baxi’s POS machines. With Baxi POS, merchants can take payments through credit/debit cards, UPI apps, and popular wallets.

Baxi aims to empower small businesses to adopt digital payments and manage their finances better through their POS offering. They are targeting merchants like grocery stores, pharmacies, restaurants, garment shops, accessory & gift stores, beauty salons, etc.

In this blog, we will look at the key details of Baxi POS including eligibility criteria, charges, daily target requirements, and POS machine costs that merchants need to know before getting on board:

Baxi POS Eligibility Criteria

To get Baxi’s POS machine, your business must fulfill the following eligibility factors:

Type of Business: You must own or work at a physical shop/outlet in segments like garments, pharmacies, restaurants, accessory stores, etc. Pure online businesses are not eligible.

Location: Your business location must be in an area that is serviceable by Baxi. Currently, they have launched services in Bengaluru only.

KYC Documents: You need to submit identity and address proof documents like Aadhaar, PAN, electricity bill, etc.

GST Registration: If your annual revenues exceed Rs. 40 lakhs, you must have a valid GST registration certificate.

If you meet the above criteria, you can proceed to register your interest on the Baxi Merchant app. The Baxi POS team will then contact you to complete onboarding formalities.

How Much Does Baxi POS Charge?

Here are the key charges associated with using the Baxi POS system for accepting payments:

• One-Time Fee: You have to make a refundable security deposit of Rs. 2,500 while taking the Baxi POS machine. This is fully refundable whenever you return the POS terminal.

• Transaction Charges: Baxi charges 2% as their fee on every credit/debit card transaction done on the POS terminal. No charges on UPI and wallet payments.

• GST Applicability: 18% GST is applicable on the 2% transaction charges as per government rules. This will be reflected in your payment statements.

So in effect, the overall fees with GST work out to 2.36% per credit/debit card swipe on the Baxi POS device. There are no annual maintenance or rental charges for the device.

Baxi Daily Payment Target

While giving the POS machines, Baxi sets a daily target for card payment transactions that merchants have to meet. This minimum target starts at 10 card payment transactions generating Rs. 2000 in GMV (Gross Merchandise Value) daily.

As your card payment volumes increase over time, Baxi keeps revising the targets upwards periodically. If you do not meet the targets consistently, Baxi has the right to take back the POS device allotted to you.

So you need to have a business plan to generate at least 10 card transactions worth Rs. 2000 daily through the POS machine. Otherwise, it does not make sense to opt for Baxi’s POS system.

Baxi POS Machine Cost

The Baxi POS android-based smart device is given to the merchants on a rental basis. You do not need to buy the POS machine hardware. Here are the costs involved:

• Refundable Security Deposit: One time fully refundable deposit of Rs. 2,500 that you need to pay upfront for getting a POS device.

• Rental Fee: Nil. Baxi does not charge any monthly rental or fees for the usage of POS devices.

• Hardware Replacement: Any POS machine-related damages or hardware issues will be taken care of by Baxi directly. No replacement costs for you.

So effectively, the POS hardware from Baxi comes for zero capital investment apart from the one-time refundable security amount. No other charges or rentals are applicable for usage of the POS terminals.

How To Apply for Baxi POS Machine?

If your business meets the eligibility norms highlighted earlier, here is the step-by-step process to apply and get a POS machine from Baxi:

Step 1: Download the Baxi Merchant App and sign up if you don’t have an account. Provide basic business details.

Step 2: Select the ‘Payments’ option and click on ‘Baxi POS’ to submit your interest.

Step 3: The Baxi team will get in touch with you for KYC verification and business details confirmation.

Step 4: After verification, they will schedule a location visit to approve your POS application.

Step 5: If your location/infra meets qualifications, Baxi will allot you a POS device with relevant paperwork.

Once the POS machine is allotted, ensure that you start using it immediately and meet the prescribed daily targets shared by Baxi as per their policy. Failing to meet usage thresholds can lead to device retrieval by the company.

Frequently Asked Questions About Baxi POS

What types of businesses can use Baxi POS?

Baxi POS is suitable for small physical retail stores like garment shops, grocery stores, chemists, salons, restaurants, etc. Pure e-commerce businesses cannot use it.

What cities is Baxi POS currently available in?

As of now, Baxi is offering POS machines only in Bangalore. They plan to expand it to other major cities in the coming months.

Do I need to pay any deposit to get the POS device?

Yes, you need to pay a fully refundable security deposit of Rs.2,500 at the time of taking the POS machine. This deposit is returned when you return the device.

Will I get trained on using the POS device features?

Yes, Baxi will give you full assistance in operating the POS system when installing it. They also have detailed manuals and videos on their merchant app.

How do I make card payments through the Baxi POS?

The POS machine is enabled to accept all types of credit cards, debit cards, and POS machines. It also accepts Paytm, PhonePe, and other UPI payments.

What are the transaction charges for the POS device?

2% transaction fees plus taxes on all credit & debit card payments. No charges for UPI and wallet transactions.

How do I get a refund of my security deposit?

You have to request the deposit refund in the Merchant app portal. The refund will be processed within 7 working days after you return the POS device to Baxi.

What is the standard daily target set by Baxi?

The initial target would be at least 10 credit/debit card transactions per day with a gross transaction value of Rs. 2,000. This keeps increasing as your POS volumes grow.

Conclusion

Baxi’s POS proposition allows small merchants and neighborhood stores to start accepting digital payments in a seamless, affordable manner. The POS hardware and usage come for zero investment with only per-transaction charges.

By meeting the daily card payment targets set by Baxi, retailers can easily recover the costs and grow their revenues. So if you have been planning to upgrade your store with digital payments acceptance, Baxi’s POS machine is meant for businesses like you.