Mastercard, Axis Bank and Worldline launch Soft POS

Chennai: Mastercard, Axis Bank and Worldline have launched Soft POS to become
the first financial payments service in India to transform everyday smartphones into merchant Point ofSale terminals.

The solution comes with various features for the merchant community, according to a press release.

“Merchants who have traditionally accepted cash payments, now have a simpler and more secure way to manage transactions. The merchant community can start using Soft POS almost instantly as the online registration process with the acquiring bank takes less than 30 minutes. The solution is available as a white label solution to all banks and payment aggregators in the industry,” it said further.

The solution addresses the needs of small businesses, especially during these challenging times of Covid-19.The solution enables face-to-face payments with Bharat QR and NFC payments,as well as remote payments for home deliveries via link-based payments.

The app also allows banks to have complete visibility of a merchant’s transactions, making it easier for small merchants to get business loans.

 

NT Bureau