Digital payments platform PhonePe has today launched its own made-in-India Point of Sale (POS) device which is targeted towards small merchants such as kirana stores, petrol pumps, food chains and quick service restaurants among others.
The POS machine, which looks like a calculator, is powered by Bluetooth and will enable merchants to accept payments without the need of Internet. As per the company, the device can run for 8-12 months on AA batteries.
Initially, the device will be piloted across around 5,000 merchants in Bengaluru and later, the device will be rolled out to other merchants across the nation.
Sameer Nigam, CEO – Phonepe, said,
PhonePe POS device ticks all the boxes for Indian shopkeepers to adopt digital payments rapidly – it is very cheap, easy to use and highly durable. The PhonePe POS will help accelerate the pace of digital inclusion for millions of local merchants and customers in India. At market launch, we will be giving the device for free to merchants, against a nominal security deposit.
The company’s CTO, Rahul Chari said:
The device has been built keeping Indian merchants and customers in mind. It does not require an internet connection and runs on a regular battery. The use of Bluetooth as the underlying technology makes the protocol used for the transaction robust and widely compatible. The solution provides several layers of security to ensure merchant and customer transaction safety.
The launch is part of company’s strategy to establish its platform as the pre-eminent digital payments brand in the country. In digital payments space, it competes against the likes of Paytm, Bhim app, which is owned by the National Payments Corp. of India (NPCI), and others.