Markets News

NPCI joins forces with SBI Payments to launch ‘RuPay SoftPoS’ solution

On March 5, National Payments Corporation of India announced it’s partnership with SBI Payments to launch ‘RuPay SoftPoS’ for merchants.

This solution has the capability to transform NFC enabled smartphones into merchant Point of Sale terminals for the retailers.

It will enable merchants to accept contactless payments of INR 5000 through a simple tap and pay mechanism on their smart phones.

Moreover, RuPay SoftPoS offers cost effective acceptance infrastructure to retailers at nominal cost.

Further, merchants can convert their existing android smartphone devices into a payment terminal by simply downloading a supported app.

This will facilitate the usage of NCMC cards and RuPay Tokenized Card on mobile.

It aims at making payments in a secure and time efficient manner.

In fact, the new app has the potential to revolutionise the way micro and small merchants receive payments.

Also, the app will assist merchants move towards accepting secure, contactless digital payments instead of dealing with cash.

However, the RuPay SoftPoS is convenient and helps to create a superior transaction experience.

After choosing the contactless menu, enter an appropriate amount, preferably less than Rs 5000.

Also, one can tap the RuPay card on the merchant’s mobile making these transactions process instantly.

The app generates the receipt of successful transaction in real time after the approval of transaction.

Moving forward, the RuPay SoftPoS solution benefits both the merchants and customers alike.

It creates a smart and user-friendly acceptance infrastructure for merchants while encouraging the customers to make secure, contactless payments.

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