Paytm has launched an Android POS device for small and medium businesses (SMEs) & merchant partners. The android based device will enable the merchants to accept payments in various ways like debit and credit cards, Paytm Wallet, UPI-based apps and cash. The device provides the merchants with the facility of producing GST compliant bills, to manage transactions and settlements through ‘Paytm for Business’ app. These services will increase the importance of digital payments in the business of small and medium businesses (SMEs) & merchant partners and will also bring to them the advantages of the digital economy.
The key features of the Android POS device are:
- The device consists of a scanner, an in-built printer and will also generate bills.
- It is empowered with the universal code support which works on all the contact and contact-less payments.
- The device is also empowered with a billing software along with the customized solutions for different industry sectors ranging from ticketing, catering to parking among others.
Advantages of the POS device:
The new facilities includes employee salaries and customer refunds. The device will also provide other advantages like powering the start-ups and the developers to easily integrate their services with the help of the application programme interface of the payment gateway.
Impact of the device launch:
The above launch from the Paytm will give a new dimension to the digital payment structure in the businesses and will take one step head towards the vision of cashless economy. With the new device, there comes the facility of automated vendor payments that can be achieved through the POS device.