Arguably the most famous digital payments solution provider, Paytm, has announced a new Android-powered POS system, which looks like a smartphone and is available on rent at an inaugural price of INR 499 per month.
Currently, most of the portable POS devices are run Linux-based software, and the One97 Communications-owned payments platform says that their device — first of its kind in India — is much more powerful than the existing stock in the market.
The device comes with a 4.5-inch touchscreen, is 12mm thick and weighs 163 grams. It also features a built-in camera to scan QR codes and facilitate instant payments. The company also claims that the battery of their POS system will last the entire day. The device, which is apparently powered by a “powerful” processor, supports 4G, WiFi and Bluetooth.
The Android POS device provided by the company will also come with their ‘scan to order’ service that’s being implemented across restaurants in India. In addition to restaurants, Paytm says that the device is also expected to hit small and medium businesses such as local merchants to enable contactless ordering and payments.
Paytm expects to ship 200,000 devices within the next few months, which will prospectively generate over 20 million transactions every month.
The smart POS device also integrates the Paytm for Business app to generate GST bills and manage transactions as well as any settlements.
“We are confident that this affordable pocket-sized Paytm Android POS device will enable everyone from SMEs to delivery personnel of Kirana stores to collect payments safely. It is our endeavour to help merchants and traders to easily digitise their business operations, without any investment in technology or backend infrastructure. Out Paytm for Business app, Khata, and payout services are providing the much-needed digitisation support to businesses to improve their efficiency and supporting them to join the Digital India mission,” said Renu Satti, VP, Paytm.