RuPay SoftPoS

RuPay SoftPoS

National Payment Corporation of India launched the “RuPay SoftPoS” for merchants

RuPay SoftPoS
Photo credit : Lokmat English
Five minute reads :

National Payment Corporation of India ( NPCI ) in association with the SBI payments have announce to launch “RuPay SoftPoS” for millions of Indian merchants.

RuPay SoftPoS will provide cost effective acceptance infrastructure to retailers at nomial cost.

Merchants will now able to accept contactless payments of up to ₹ 5,000 through a simple tap and pay mechanism on their smartphones.

This technology will be helpful in transforming the NFC enabled smartphones in to merchant point of sale ( PoS ) terminals for retailers.

Important takeaways of National payment Corporation of India :

  • It is an umbrella organization that operates the retail and settlement systems across India .
  • It was founded in December 2008.
  • It was set up by Reserve Bank of India and Indians Bank Association.
  • NPCI is not for profit organization which is registered under section 8 of the Companies Act 2013.
Reference : https://www.livemint.com/news/india/npci-partners-with-sbi-payments-to-launch-rupay-softpos-solution-11614931942586.html

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