HDFC Bank Ltd., became the first bank in India to launch DigiPOS, a Point of Sale (POS) machine that offers a complete suite of digital payment options. DigiPOS will offer customers various digital payment options such as UPI, Bharat QR, SMS Pay and PayZapp, in addition to the facility to pay through debit/credit cards.
In the coming months, HDFC Bank will convert its entirenetwork of over 4 lakh PoS machines to DigiPOS without any investment by the merchants.
The initiative integrates all popular digital payment methods in PoS machines thus offering greater convenience to both customers and merchants. For example, using the Bharat QR or UPI option, customer can scan the QR code and make payment using their smartphones. Similarly, SMS Pay option on the DigiPOS can be initiated by merchants in the home delivery business to facilitate payments through SMS to customers. As the largest acquirer in the country, HDFC Bank aims to enable all its existing merchants to accept digital payments thereby driving rapid adoption of digital transactions. “We are revolutionizing the way customers pay at merchant outlets by integrating UPI, Bharat QR, SMS Pay, and PayZapp on theDigiPOS machines. Digital Banking means offering convenience not just for customers but also for our merchant network. Merchants no longer have to keep different devices to receive payments and our entire PoS network will be converted to DigiPOSsoon. We believe Digital PoS is a significant step towards further encouraging both customers and merchants to adopt the various digital payment platforms,” said Mr.Parag Rao, Country Head – Card Payment Products, Merchant Acquiring Services, and Marketing, HDFC Bank.
Benefits of DigiPOS:
• Availability of UPI, Bharat QR, SMS Pay, and PayZappon DigiPOS to widen acceptance of digital payments
• Customers of all banks can pay using these payment options as per their convenience
• This is in addition to debit/credit card payment facility available on the PoS machines