SBI Payments, NPCI launch new solution
SBI Payments and National Payments Corporation of India (NPCI) have joined hands to launch RuPay SoftPoS that will enable merchants to make contactless transactions of up to Rs 5,000 through their smart phones.
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New Delhi: SBI Payments and National Payments Corporation of India (NPCI) have joined hands to launch RuPay SoftPoS that will enable merchants to make contactless transactions of up to Rs 5,000 through their smartphones.
The solution has the capability to transform NFC (near field communication) enabled smartphones into merchant Point-of-Sale (PoS) terminals for retailers, SBI and NPCI said in a joint release on Friday.
Merchants will now be able to accept contactless payments of up to Rs 5,000 through a simple tap and pay mechanism on their smartphones.
RuPay SoftPoS will provide cost-effective acceptance infrastructure to retailers at nominal cost, it said, adding this will be able to proliferate digital payment acceptance among millions of underserved Indian MSMEs.
