RuPay ties up with RBL Bank to facilitate launch of RuPay PoS

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By Ashish Mitra --
Thursday, 31 Dec, 2020

RuPay has entered into a partnership with RBL Bank. The collaboration will facilitate the launch of RuPay PoS, a payment solution for Indian merchants in association with PayNearby. The said partnership was announced by National Payments Corporation of India (NPCI).

With the partnership in place, RuPay PoS aims to offer a cost-effective acceptance infrastructure to retailers at no additional capital cost. Merchants can convert their android smartphone into a payment acceptance terminal by simply updating their PayNearby app.

The companies stated that the new payment solution is expected to make smartphones work as merchant Point of Sale terminals for the retailers.
NFC-enabled mobile phones will enable merchants to accept contactless payments upto INR 5000, via tap and pay mechanism. Customers can make purchases using RuPay cards or have tokenised their RuPay Cards.

According to RuPay, the new payment solution can also accept offline transaction of RuPay NCMC. Transactions of Rs. 200 and below will not require an online authorization. This would make these transactions as quick and easy as exchanging cash.

In a statement, Anand Kumar Bajaj, MD & CEO, PayNearby said, “PayNearby aims to become the digital payments enabler to lead “Atmanirbhar Bharat” payment solution in the country. Through RuPay PoS, we wish to build an ecosystem by adding the number of acceptance points for easy and fast digital payments. These cost-effective solutions are targeted towards the over 30 million small and medium merchants in the country and empower them with simple contactless payment solutions for their customers. This is how we will bridge the digital divide among the masses and create an equal Digital India”.

Nalin Bansal, Head of RuPay & NFS, NPCI averred, “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. We believe this revolutionary mechanism of smartphone turning into a PoS machine will deepen the penetration of digital payments and strengthen the acceptance infrastructure in the country – thereby providing a seamless transaction experience for both merchants as well as customers.”

RuPay ties up with RBL Bank to facilitate launch of RuPay PoS. RuPay has entered into a partnership with RBL Bank. The collaboration will facilitate the launch of RuPay PoS, a payment solution for Indian merchants in association with PayNearby. The said partnership was announced by National Payments Corporation of India (NPCI).

With the partnership in place, RuPay PoS aims to offer a cost-effective acceptance infrastructure to retailers at no additional capital cost. Merchants can convert their android smartphone into a payment acceptance terminal by simply updating their PayNearby app.

The companies stated that the new payment solution is expected to make smartphones work as merchant Point of Sale terminals for the retailers. 
NFC-enabled mobile phones will enable merchants to accept contactless payments upto INR 5000, via tap and pay mechanism. Customers can make purchases using RuPay cards or have tokenised their RuPay Cards.

According to RuPay, the new payment solution can also accept offline transaction of RuPay NCMC. Transactions of Rs. 200 and below will not require an online authorization. This would make these transactions as quick and easy as exchanging cash.

In a statement, Anand Kumar Bajaj, MD & CEO, PayNearby said, “PayNearby aims to become the digital payments enabler to lead “Atmanirbhar Bharat” payment solution in the country. Through RuPay PoS, we wish to build an ecosystem by adding the number of acceptance points for easy and fast digital payments. These cost-effective solutions are targeted towards the over 30 million small and medium merchants in the country and empower them with simple contactless payment solutions for their customers. This is how we will bridge the digital divide among the masses and create an equal Digital India”.

Nalin Bansal, Head of RuPay & NFS, NPCI averred, “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. We believe this revolutionary mechanism of smartphone turning into a PoS machine will deepen the penetration of digital payments and strengthen the acceptance infrastructure in the country – thereby providing a seamless transaction experience for both merchants as well as customers.”