India-based private sector lender HDFC Bank has introduced DiGiPOS, a POS terminal that offers a complete suite of digital payment options such as UPI, Bharat QR, SMS Pay and PayZapp.
Using the new POS, which will also facilitate debit or credit cards payments, the bank aims to enable all its existing merchants to accept digital payments.
The DiGiPOS can be integrated with all popular digital payment methods in POS machines to provide greater convenience to both customers and merchants.
The bank is planning to upgrade its entire network of more than 400,000 POS machines to DiGiPOS, for which the merchants will not have to make any investment.
Using the Bharat QR or UPI option, customer can scan the QR code and make payment through their smartphones.
Likewise, SMS Pay option on the DiGiPOS can be initiated by merchants in the home delivery business to facilitate payments through SMS to customers.
HDFC Bank country head – card payment products, merchant acquiring services, and marketing said Parag Rao said: “We are revolutionizing the way customers pay at merchant outlets by integrating UPI, Bharat QR, SMS Pay, and PayZapp on the DiGiPOS 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 DiGiPOS soon.
“We believe Digital POS is a significant step towards further encouraging both customers and merchants to adopt the various digital payment platforms.”