National Payments Corporation of India, the umbrella entity for digital payments in India, and SBI Payments have joined hands to launch “RuPay SoftPoS”, which is to offer seamless, cost-effective acceptance infrastructure to the retailers at a nominal cost, and assist deepen the digital payment acceptance among millions of underserved Indian MSMEs.
“Merchants can convert their existing android smartphone devices into a payment terminal by simply downloading a supported app. This solution will revolutionise the way micro and small merchants receive payments and create a demarcated shift in their tendency to deal in cash to accepting secure, contactless digital payments instead,” NPCI said.
Also Read: SBI partners NPCI to launch ‘SBI RuPay JCB Platinum Contactless Debit Card’
With the help of this alliance merchants will now be able to use their near-field communication (NFC)-enabled smartphones as point of sale (PoS) terminals to accept payment up to Rs 5,000 through a simple tap and pay mechanism.
