Indians are actively adopting digital payments in India. While many consumers use UPI systems to make transactions there are still many who use debit and credit. Considering this, fintech company BharatPe on Tuesday launched India's first all-in-one payment product. This new product from the company incorporates POS (point of sale), QR, and speaker into a single device.
The newly introduced product is called BharatPe One. It is designed to streamline transactions for merchants, offering versatile payment acceptance options including dynamic and static QR codes, tap-and-pay, and traditional card payment options.
The company plans to launch the product in over 100 cities in the first phase and further scale it to more than 450 cities over the next six months.
"By combining multiple functionalities into one cost-effective device, we're providing a comprehensive solution tailored to the varied needs of small and medium businesses across diverse sectors," Nalin Negi, CEO, BharatPe, said in a statement.
As per the company, the device offers a smooth and hassle-free experience for both merchants and customers alike.
It comes equipped with a high-definition touchscreen display, 4G, and Wi-Fi connectivity, and is powered by the latest Android operating system. It delivers improved performance and security, the company said.
"We have received an overwhelming response from our merchants in the pilot phase and we reckon that this will be another game changer for the digital payments ecosystem, further consolidating our position as a trailblazer in the fintech industry," said Rijish Raghavan, Chief Business Officer - PoS Solutions, BharatPe.
Meanwhile, the NPCI Board, with the approval of RBI, has launched NPCI International Payments Limited (NIPL) to expand the usage of RuPay (domestic card scheme) and UPI (mobile payment solution) beyond India. The NIPL acceptance network for RuPay and UPI enables Indian travelers to use these payment channels in their destination country, making their international transactions hassle-free. Currently, UPI is available in six countries, namely Bhutan, Mauritius, Singapore, Sri Lanka, UAE, and France.
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Inputs from IANS
