Merchants - how
to enable IPS?

Devices for accepting instant payments

Instant payments can be accepted at points of sale via several channels: a merchant app that can be installed on a mobile phone or another mobile device, a solution implemented at the merchant’s cash register or by using the POS terminal.

How to enable instant payments at a point of sale for your buyers?

In order to enable instant payments at your point of sale, you should contact the acquiring bank and, based on your requirements and the specificity of points of sale, choose how to accept instant payment, i.e. the channel and method you intend to use. After deciding on the acquiring bank, the merchant concludes a contract on instant payment acceptance with such bank. Please note that all acquiring banks offering the service of payment card acceptance are required to offer to merchants instant payment acceptance as well. The list of acquiring banks offering this service is available at the following link: Banks providing the instant payment acquiring service at points of sale. Acquiring banks are required to agree on a merchant fee with merchants, with a separately disclosed multilateral interchange fee and the costs of the NBS IPS system. In this way, the merchant has a clear understanding of the share of costs and bank’s margin in the merchant commission.

Is it possible to enable instant payment acceptance via several banks?

Some of the available solutions enable instant payment acceptance via several acquiring banks (multibank acceptance). In this way, the merchant can make additional savings on the merchant fee and direct turnover to a specific bank in order to ensure more efficient cash flow management. If it decides to cooperate with several banks in this manner, the merchant concludes a contract on instant payment acceptance with each of these banks.

Merchants who, on their own or in cooperation with their technical service provider, implement the solution they intend to use for payment acceptance may also perform acceptance via several acquiring banks.

How to enable instant payment acceptance via merchant’s mobile app?

After you choose the acquiring bank and conclude a contract with it, the bank should provide you with guidelines for work and parameters for activating the mobile app. You should download the acquiring bank’s app from Google store, install it on your mobile device (telephone or tablet) and activate it in line with instructions. Once it is activated, the app is ready to be used and you can start accepting instant payments.

Merchant mobile apps are also used for collection in home delivery of goods as delivery companies do not need POS terminals in order to collect payments. Merchant apps support both methods – IPS SHOW and IPS SCAN – and the merchant decides which method to use depending on its requirements.

Is it necessary to print out a slip after an IPS transaction?

When making instant payment transactions at points of sale, it is not necessary to print out a paper slip confirming the payment, as in the case of card payments at POS terminals. Namely, all certified mobile apps for merchants have the option to generate a report on executed transactions in a simple manner. Thus, in case of supervision by a supervisory authority, the merchant can easily generate the report and send it in electronic form to the e-mail address specified by the competent authority. The generating and submission of the report on executed instant payment transactions in electronic form is officially accepted by the Ministry of Finance of the Republic of Serbia – Tax Administration.

Payment via merchant mobile app