Axis Bank, one of India’s top private sector banks, has introduced a groundbreaking payment solution called “MicroPay” in collaboration with technical partners Ezetap by Razorpay and MyPinpad.
What is MicroPay?
MicroPay is a “PIN on Mobile” solution that transforms a merchant’s smartphone into a Point-of-Sale (POS) terminal, making digital payments easier and delivering a one-of-a-kind customer experience.
Significance of this development:
This solution will have a significant impact on businesses throughout India, particularly retail and kirana shops in Tier-2 and 3 cities that have limited working capital and require cost-effective payment options. Overall, MicroPay has the potential to revolutionize digital payments in India, and be a game-changer for small businesses.