NPCI, SBI Payments partner to launch “RuPay SoftPoS” for merchants

NPCI, SBI Payments partner to launch RuPay SoftPoS for merchants

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.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.