Kochi: In an attempt to offer its customers solutions that are technology-driven, Federal Bank has launched its Point of Sale (POS) terminals. Within a year, the bank plans to deploy one lakh terminals throughout the country. The bank also plans to partner with educational institutions for institutional fee payment and corporates for business to business (B2B) payments, float products such as finance against POS receivables, extend financial inclusion services and value added services such as mobile recharge. The bank has partnered with Tata Communications Banking InfraSolutions to provide an integrated POS Acquiring Infrastructure as a service, which will enable the bank to start its Merchant Acquiring Business faster and with lower costs. For merchants, the advantage of POS transaction is that the hurdles of cash management are reduced with money getting credited to their accounts. Apart from increased sales, the merchants can avoid the risk of handling soiled or counterfeit notes. Currently launched with Visa acceptance, the bank will shortly announce the acceptance of MasterCard, PIN-based cards, cash withdrawal facility at POS and POS with Dynamic Currency Conversion feature for deployment at tourist locations.