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- PhonePe Launches Low Cost Point of Sale Device
PhonePe Launches Low Cost Point of Sale Device
Press Trust of India | Updated: November 01, 2017 10:08 IST
Highlights
- The POS device launched by PhonePe is powered by Bluetooth technology
- The cost of the POS device is Rs 699
- The POS device can function without an active internet connection
New Delhi: Betting on the big push for Digital India, PhonePe launched a low cost and indigenously designed Point of Sale (POS) device, powered by Bluetooth technology. Resembling a calculator, the device is quite helpful for a wide range of traders starting from small retailers to petrol pumps and food chains, claim its promoters.
The cost of our product is just Rs 699 whereas the regular POS costs Rs 5,000. The first lot we manufactured abroad but now we are looking for the local partners. By year end we will be manufacturing it in India somewhere in either Hyderabad or Bengaluru, said Sameer Nigam, Chief Executive Officer of PhonePe.
Mr Nigam said the entire device has been designed in India right from soldering to the chip.
It is a 100 per cent Made in India product, designed and developed in India and for India. It is very cheap, easy to use and highly durable. It can run for 8 to 12 months on AA batteries, he said.
The start-up claims that the device makes transaction easier for its customers. All they need to do is bring their phone close to the POS device and it automatically shows the merchant details and amount to be paid. The merchant does not need internet to be able to confirm that a transaction was successful. Mr Nigam said the device is portable and has no scope for misuse.
Also Read: Cashless Payment Methods To Boost India's E-Commerce Growth
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
The cost of our product is just Rs 699 whereas the regular POS costs Rs 5,000. The first lot we manufactured abroad but now we are looking for the local partners. By year end we will be manufacturing it in India somewhere in either Hyderabad or Bengaluru, said Sameer Nigam, Chief Executive Officer of PhonePe.
Mr Nigam said the entire device has been designed in India right from soldering to the chip.
It is a 100 per cent Made in India product, designed and developed in India and for India. It is very cheap, easy to use and highly durable. It can run for 8 to 12 months on AA batteries, he said.
The start-up claims that the device makes transaction easier for its customers. All they need to do is bring their phone close to the POS device and it automatically shows the merchant details and amount to be paid. The merchant does not need internet to be able to confirm that a transaction was successful. Mr Nigam said the device is portable and has no scope for misuse.
Also Read: Cashless Payment Methods To Boost India's E-Commerce Growth
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Published: October 31, 2017 19:03 IST
NDTV along with MasterCard is launching a multi-platform campaign “Cashless Bano India”, to create digital awareness and educate the masses about digital payment solutions for day to day transactions.
The campaign aims to take the message of a cash free India to the country, all while educating them on the ways and means to do it.
We aim to reach out to people and educate them on:
1). Digital and financial literacy
2). New generation digital payment solutions
3). Enabling merchants and consumers to understand and adopt secured and safe payment Solutions
4). Ease of usage at point of sales
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