what is pos limit

POS (Point of Sale) limit refers to the maximum amount of cash that can be withdrawn per day using a debit card at a POS terminal. The limit varies depending on the tier of the center where the POS terminal is located. In Tier III to VI centers, the POS limit is up to INR 2,000 per day, while in Tier I and II centers, the limit is up to INR 1,000 per day per card. The POS terminal is a debit card reading machine available with banks and merchants that can be used to withdraw money using a debit card or an open system prepaid card. The POS terminal is also used by merchants to accept payments when customers pay using a credit or a debit card.