“We are glad to associate with PayNearby, Paynext, Uvik and RBL Bank to facilitate the launch of the innovative RuPay PoS solution which will empower merchants across the country to onboard into digital payments ecosystem,” said Nalin Bansal, Head of RuPay & NFS, NPCI.
Shopkeepers can convert their Android smartphone into a payment acceptance terminal by simply updating their PayNearby app. With RuPay PoS, nearby local stores even in the remotest areas will now be able to process contactless payments on their smartphone.
“Through RuPay PoS, we wish to build an ecosystem by adding the number of acceptance points for easy and fast digital payments. This cost effective solution is targeted towards the 30 million+ small and medium merchants in the country and empower them with simple contactless payment solutions for their customers,” said Anand Kumar Bajaj, MD & CEO, PayNearby.
As a pilot, RuPay PoS can also accept offline transactions of RuPay NCMC, thus ensuring easy acceptance infrastructure for both online and offline card payments. Transactions of Rs 200 and below will not require online authorization. “This serves the dual purpose of eliminating internet dependency for micropayment processing and at the same time ensuring hassle-free shopping experience for customers,” said NPCI in a statement.
“We are happy to partner with RuPay and PayNearby to offer the unique RuPay PoS solution. This initiative is aimed at transforming the digital payments landscape and democratizing access to secure and convenient modes of transaction,” said Pushpendra Sharma, Head Digital Payments & Acquiring, RBL Bank.