Pos Terminal

• Installation and delivery of the POS terminal without any expenditure
• Free training for cooperation
• Free technical service
• Possibility of modern and secure payment
• Possibility of payment through cards, such as Visa and MasterCard
• Transaction free from minimal commission fee
• No monthly fixed costs

Aspired to ensure the safety of our customers, Credo Bank has invested in a new mechanism for shaping a risk monitoring framework, which will ensure monitoring of suspicious actions within Credo Bank’s plastic cards and operations via Point-of-Sale Terminals (POS Terminal).

The program will identify operations that could potentially be undertaken by non-holders of the respective cards, but other parties. Thus, in case a credit card operation will not commence successfully, please contact the Information Center of Credo Bank for unblocking the operation. Dial *4242 or visit the nearest Service Center.

Instant payment - (‘the payment’) - the mentioned service involves instant payment to merchants, in particular, when the client makes a payment with a card at the POS terminal in favour of the merchant, the amount paid is automatically shall be deposited on the merchant's account. Time of payment to merchants will be from 09:00 to 00:00. Any transaction made after 00:00 will be transferred to the merchant’s account the next day via standard payment procedures.

Instant payments for new merchants

A merchant who requires a POS terminal and registers as a merchant of Credo can use the instant payment service completely free of charge.

Merchants are assigned the daily limit categories automatically applied to their accounts.

Daily limits:

New merchants will be prescribed the following daily limits:

• POS terminal 2500 GEL
• POS terminal + cash register function 2500 GEL
• Mycredo Terminal 500 GEL

Standard limits will be revised and increased in the following manner:

The relevant department of the bank will monitor the merchant’s daily and monthly turnovers once a month. If the merchant’s average daily turnover of the previous month exceeds the current limit, then the limit will be increased until the 10th of the current month. The increased limit following the merchant's daily turnover can be determined in the following amounts:

POS terminal limit

1. 5000 GEL

2. 10000 GEL

Mycredo Terminal limit

1. 1000 GEL

2. 2000 GEL

If the merchant has an increased limit and the average daily turnover of the previous month is less than the standard limit, then the merchant will be returned to the standard limit.

Cancellation of instant payment:

If the merchant’s turnover of the previous month is equal to 0, then the service will be cancelled before the 10th of the current month.

In such a case, the merchant can request service activation from the start.

Note:

Instant payment will not be activated on the instalment terminals.

The pre-authorization service is an additional function of the POS terminal (standard type POS terminal and POS terminal + cash register function) that allows the merchant to remotely block the

booking amount (without physically registering the card) on the POS terminal, by entering the card data (16 digits of the card and the expiry date month/year).

In the case of using the pre-authorization function on the POS terminal, the cost of the hotel booking is blocked on the client’s account.

Completion of the pre-authorization operation, i.e. withdrawal of money from the client’s account, will take place only after the card is physically registered at the POS terminal.

The amount blocked with the pre-authorization function will be blocked for 30 calendar days. If the transaction is not completed within 30 days, or the merchant does not cancel the operation, the

block will be automatically canceled after 30 calendar days.

During the validity period of the blocking, the merchant can unblock the blocked amount in full or in part.

Note:

The pre-authorization operation can be completed for the full or less amount of the booking price, it cannot be completed for a higher amount.

The activation of the pre-authorization function on the POS terminal will take place within a certain limit, which includes the limit of performing operations with the pre-authorization function on the

merchant’s POS terminal, which will be prescribed for the merchant in a month, on one POS terminal located at one object.

To determine the pre-authorization limit, the bank shall study the following issues:

- Merchant’s credit history;

- Average occupancy of the hotel and determination of the average price of a room taking into

account the location;

- Merchant’s credit history with Credo Bank;

The monthly minimum and maximum limit of pre-authorization is established on Credo Bank’s POS terminal. The minimum pre-authorization limit comprises 3,000 GEL, and the maximum - 30,000 GEL.

The request for a limit above 30,000 GEL can be considered an exception by the relevant department of the Bank.

Before completing the pre-authorization application, the merchant must have a hotel registered on the online platform to be able to present the said link.