PhonePe from Flipkart offers POS machines for small retailers

 PhonePe from Flipkart offers POS machines for small retailers

5,000 of these point-of-sale (PoS) devices will be sold by Flipkart's PhonePe in Bengaluru at first, and it will expand to more cities in the early months of 2019.

Bengaluru: As the firm accelerates its offline development, Flipkart's payments subsidiary PhonePe said on Tuesday that it has introduced its point of sale (POS) device based on Bluetooth technology allowing kirana shops, gas stations, restaurant chains, and other merchants to take digital payments.

Because most shops use standard calculators anyhow, the gadget is meant to be simpler to use for customers as an electronic calculator.

Customers must bring their smartphone near to the PoS device in order to make a payment; the bill amount will then appear instantly on the PhonePe app. There is no requirement for an internet connection for traders since the gadget operates via Bluetooth.

PhonePe's chief executive, Sameer Nigam, said that the business would begin selling 5,000 of these handsets in Bengaluru at a price of Rs 699 each before expanding to other cities in the early months of 2019. The gadgets will be delivered for free, however a refundable deposit will be required.

"PhonePe POS will contribute to the quickening of the digital inclusion process for millions of Indian local businesses and consumers. We will provide this technology to merchants at no cost at the time of market launch in return for a small security deposit. According to Nigam, it satisfies every need for the quick uptake of digital payments among Indian consumers since it is extremely reasonably priced, user-friendly, and environmentally friendly.

The introduction is a component of PhonePe's plan to position its platform as the industry leader in digital payments. Although millions of consumers utilize digital payments when making purchases online, relatively few physical retailers provide easy ways for patrons to make digital payments. In India's rapidly expanding payments market, PhonePe, which uses the Unified Payments Interface (UPI) technology, faces out against Paytm, a bigger rival, Bhim App, which is controlled by National Payments Corporation of India (NPCI), and other competitors. Does.

"Indian merchants and clients were taken into consideration throughout the creation of this gadget. It works on a standard battery and doesn't need an internet connection. Because Bluetooth serves as the foundational technology, the transaction protocols are reliable and broadly compatible. PhonePe's chief technology officer, Rahul Chari, said that the system provides many security layers to guarantee the security of user and merchant transactions.

Flipkart's biggest bet on digital payments after many unsuccessful efforts is PhonePe. Flipkart said earlier this month that it will grow its payments division by investing $500 million in PhonePe. This pledge is on top of the $75 million Flipkart had already given PhonePe since acquiring the company in April 2016.