RuPay SoftPOS allows retailers to easily accept payments from contactless cards, mobile wallets, and wearables using only their phones. Via RuPay SoftPOS, millions of merchants can now transform their near field communication (NFC) smartphones into POS machines to accept contactless payments.
The National Payments Corporation of India (NPCI) announced on Monday that PayCore, a global payment solutions company based in Turkey, has been onboarded as one of RuPay SoftPOS' accredited partners to help push cashless payments across the world.
NPCI said it has approved PayCore's SoftPOS solution for RuPay as part of this partnership. This solution can be incorporated into bank or aggregator acquiring systems to enable RuPay to be purchased with mobile phones that have NFC capabilities or add-ons.
The investment costs needed by banks to access over 63 million micro, small, and medium-sized businesses would be dramatically reduced with PayCore's SoftPOS solution, which allows smartphones and tablets to be used as POS terminals without any additional equipment.
"India has an enormous economy where we have already invested before and have extensive market insight. Hitachi Payment, one of the largest digital payment companies in India, uses PayCore's SoftPOS technology in its data center and SBI Payment, the payment solutions company of the State Bank of India is also among our customers," said Kancal.