National Payments Corporation of India (NPCI) has launched ‘RuPay SoftPoS’ in partnership with SBI Payments. Millions of shopkeepers will benefit from RuPay SoftPOS. Shopkeepers will be able to convert their NFC (Near Field Communication) enabled smartphones into merchant point of sale (PoS) terminals. With this initiative of NPCI, shopkeepers will now be able to take contactless payments of up to 5 thousand rupees on a single click on a smartphone.
According to the information, through RuPay SoftPoS, shopkeepers will be able to convert their Android smartphone device into a payment terminal. For this, they just have to download a supported app. This initiative of NPCI and SBI Payments will make it easier for Indian MSMEs to take digital payments.
This is how RuPay will pay on SoftPoS
RuPay SoftPoS is convenient. After selecting the contactless menu, the amount to be paid (maximum Rs 5 thousand), is to be filled. After this, the Roop card has to be tapped on the shopkeeper’s smartphone. After this, the transaction will be completed immediately. After the transaction is approved, its completion receipt will be generated in real time. According to the information given by NPCI, this facility can be used through NCMC Cards (National Common Mobility Card) and Rupe Tokenized Card.
Benefit from RBI’s decision
SBI Payments MD and CEO Giri Kumar Nair says that SBI Payments is working closely with NPCI to support the government’s Digital India campaign. According to Nair, he has a special focus on merchants in the north-eastern states. Under the partnership between SBI Payments and NPCI, the initiative will benefit small and medium scale businessmen located in semi-urban and rural areas. Nair said that the approval of RBI to accept payment of up to Rs 5000 under tap and go facility has the advantage and now more and more shopkeepers can be linked to it.