RuPay and RBL had partnered to launch ‘RuPay PoS’ in association with PayNearby. This would allow merchants to accept contactless payments of up to INR 5000 through a simple tap and pay mechanism on NFC enabled smartphones. The unique PoS solution would evolve a less-cash economy with secure and convenient modes of transaction. CEO of PayNearby Anand Kumar Bajaj said that this would create an equal Digital India by bridging the digital divide among masses.
Paytm’s revenue for the fiscal year ended March 31 increased to Rs 3,629 cr, supported by a hike in the number of transactions across various segments and POS devices. Its losses have reduced by 40% on a YoY basis. The company sold 2 lakh units of Android-based POS devices amid demand from SMEs, grocery stores etc. It is actively hiring new talent even during the ongoing pandemic. It plans to hire 1000 engineers, data scientists, financial analysts etc.
Paytm has launched its first pocket Android PoS device for contactless ordering and payments for SMEs. It will available at a monthly rental price of Rs 499. This machine comes with Paytm’s ‘Scan to Order’ service. It is 4.5-inch touch screen device with ‘powerful processor, ‘all-day battery life’ and an inbuilt camera to scan QR codes. It’s a cloud-based software that ensures payments never fail. The device will only be available to Paytm vendors.
Dineout’s platform, using customers’ data (desired plate size, cuisines etc), recommends the best restaurants as per their needs. Its B2B restaurant platform – inRestro (10000+ users) –offers services like PoS, CRM etc for better customer experience. ML algorithms automate a few manual tasks to optimise costs. Furthermore, they aim to replace tablets by users’ smartphones for placing orders. Thus, making digital menus affordable, accessible to restaurants.