Salesforce Acquires PredictSpring, a Retail Cloud-PoS Software Vendor

Salesforce has signed a definitive agreement to acquire PredictSpring, a modern retail Point-of-Sale (POS) software vendor. PredictSpring's software is built natively in the cloud.

Once the transaction is complete, PredictSpring will enhance Salesforce's capabilities by providing a unified omnichannel platform that spans both digital and physical channels. This move aligns with the growing demand for seamless retail experiences that blend online and in-store shopping.

PredictSpring’s Cloud POS solutions enable store associates to engage shoppers and complete transactions from anywhere in the store via a mobile device. In addition to Cloud POS, the store solutions include Clienteling, Endless Aisle, Store Fulfillment, and Store Operations capabilities that empower store associates and streamline and personalize the shopping experience across physical and digital touchpoints.

PredictSpring is an existing Salesforce ecosystem partner with several strategic retail customers and is already integrated with Commerce Cloud and Service Cloud.

Besides this acquisition, Salesforce completed its acquisition of Spiff on February 1, 2024. Spiff provides intuitive incentive compensation management (ICM) software, combining a low-code UI, spreadsheet familiarity, and a powerful processing engine for commissions automation at scale. Spiff's addition enhances Salesforce's Sales Performance Management solutions, empowering organizations to align compensation plans with strategic outcomes.

This year in May, Salesforce acquired Israeli startup Bonobo AI for $45 million. This acquisition enables Salesforce to glean insights from text, support calls, and other communication methods, benefiting organizations worldwide.

Additionally, Salesforce has been in talks to acquire Informatica, a mega-data deal that could have significant implications.

BharatPe Launches BharatPe Swipe Android Machine for Merchants: Plans to Double Its PoS Network Over the Next 12 Months

BharatPe to add new features to BharatPe Swipe Android in the coming months

BharatPe, India’s leading name in fintech industry, today announced the launch of its new Android Point of Sale (POS) terminal. Known as BharatPe Swipe Android, the device offers multiple modes for digital payment acceptance, including debit/credit cards, UPI, mobile wallets and QR code. The company, which had launched Linux based POS devices in the year 2020, already has a network of over 2 lakh POS machines across 400+ cities in the country, and is one of the top 3 fintech players in the POS category. BharatPe will give its merchants an option to upgrade from the Linux based POS to the new Android POS device. Additionally, it plans to double its POS network count over the next 12 months, with the launch of BharatPe Swipe Android.

Powered by Android 10 operating system, the new device has a 5.5” HD touch screen and a long-lasting battery, supports fast charging, and is compatible with 4G and Wi-Fi for better connectivity. Supported by the BharatPe merchant app, the POS solution offers a simple and intuitive interface with the convenience of instant settlements and single point reconciliation for transactions across BharatPe QR and BharatPe Swipe.

BharatPe Swipe Android

With BharatPe Swipe Android, merchants can also accept QR payments via dynamic QR generated on the machine, as well as generate physical receipts for the QR payments done. The comprehensive merchant dashboard enables efficient management of transactions and settlements with a customizable view as per the requirement of the merchant. Also, accepting payments through the POS machine enables the company to assess the merchant’s creditworthiness and facilitate business loans through its NBFC partners.

Commenting on the launch, Nalin Negi, CFO & interim CEO, BharatPe, said, “Through its robust fintech ecosystem for offline merchants, BharatPe has brought millions of small businesses and retailers under the fold of the digital economy. The latest addition to our product suite, BharatPe Swipe Android, is a powerful yet simple-to-use device that will further enable our merchants to offer their customers a seamless and secure payment experience. It aims to cater to a wide range of merchants across segments including the small merchants, from a neighborhood kirana store to a fine dine restaurant or a supermarket chain. We are confident that with this new POS we will be able to offer a superlative experience to our merchant partners and in turn, help them further grow their business.”

Sandeep Indurkar, Chief Business Officer- Banking and Alliances, BharatPe, added, “The infrastructure for various payment acceptance offerings including point of sales (PoS) has been growing not only in metros and tier 1 cities, but also in tier 2 and 3 cities. We are bullish about our growth in the POS category with the launch of BharatPe Swipe Android devices. In the coming months, we will be launching a pathbreaking POS device along with offerings like pay later EMIs, Digital Receipts and sound notifications that will scale up payment acceptance for millions of offline merchants and kirana store owners. This will further enable our merchants to deliver customer delight and in turn, strengthen their businesses. We stay committed to empower our 10 million+ merchant community and be an important part of their growth story.”

In the next phase of scale-up for its POS business, BharatPe plans to launch integrated inventory, billing and payment solutions that are customized for specific industry segments like restaurants and retail stores.

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 300 million+ UPI transactions per month (annualized Transaction Processed Value of over US$ 26 Bn in payments). The company has already facilitated the disbursement of loans totaling INR 100B+.

BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members.

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 8 million downloads and an annualized TPV of close to INR 50B+. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. Recently, the company announced that it has acquired a majority stake in Trillion Loans, a renowned NBFC (Non- Banking Financial Company)

PayTm Broadens Offline Payments Distribution, Ties with Samsung Stores to Deploy Smart PoS Devices and Offers Paytm Postpaid

• Drives convenience for consumers and merchants with its smart payments offerings with deployment of PoS devices
• Enables consumers to pay flexibly using Paytm Payment Instruments like Paytm UPI, Paytm Wallet, Paytm Postpaid (buy-now-pay-later) and also all major debit cards, credit cards and prepaid cards
• Offers No Cost EMI options along with attractive offers for payments made through Paytm PoS devices or Paytm Wallet

PayTM, India’s leading digital payments and financial services company and the pioneer of QR and mobile payments, has partnered with Samsung authorized stores across India to facilitate smart payments as well as Paytm Postpaid (Buy Now, Pay Later) at their retail outlets through deployment of PoS devices. With this partnership, Paytm will enable consumers to make digital payments seamlessly at Samsung Authorized stores spread across the country.

Now, consumers purchasing Samsung devices — from laptops, smartphones to television sets, smart watches, refrigerators and more — from any authorized store in the country will be able to pay via a host of flexible payment options offered by Paytm including— Paytm UPI, Paytm Wallet, Paytm Postpaid and also all major debit cards, credit cards and prepaid cards.

The option to pay using Paytm Postpaid or ’Buy now, pay later’ through PoS devices deployed at Samsung stores will be hugely beneficial to consumers, allowing them to purchase products without having to worry about budget. Consumers can easily opt for Paytm Postpaid, which is offered in association with financial partners, and get a monthly credit limit of up to Rs 60,000. They can use this credit for buying products at authorized stores and repay through flexible EMIs at low interest rates. In addition to Paytm Postpaid, consumers can opt for low-cost personal loans up to Rs 2 lakh — offered by Paytm’s financial institution partners — to purchase goods.

To bring further convenience to consumers, Paytm will also offer No Cost EMI options along with attractive offers for payments made through Paytm PoS devices. The company’s PoS devices also bring several exciting features for merchants including simplified billing, integrated payments, targeted promotions or real-time inventory status among others. Paytm PoS devices drive payments as well as transaction and reconciliation — for sound, visual and print-based merchant solutions.

Bhavesh Gupta, CEO - Lending & Head Payments - Paytm said, “We continue to drive innovation in the offline payments market and with our PoS devices, merchants are able to drive higher customer loyalty. The partnership with Samsung stores will enable us to further extend the convenience of smart payments to a larger customer base.”

After having pioneered the QR and mobile payments revolution in India, Paytm’s technology-oriented platform remains focused on delivering innovative solutions to strengthen its payments ecosystem and empower small businesses. Paytm’s devices like the Paytm Soundbox, Paytm POS devices, all-in-one QR code among others are well- recognized and accepted by merchants across the country. Paytm continues to maintain its leadership in offline payments with rapid growth in merchant base and device adoption, enabling the company to maximize monetization opportunities. As of July 2022, the company has deployed 4.1 million devices across the country.

Paytm is India’s payment Super App offering consumers and merchants the most comprehensive payment services. Pioneer of the mobile QR payments revolution in India, Paytm’s mission is to bring half a billion Indians into the mainstream economy through technology-led financial Services. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.

Paynearby Sets Up 1 Lakh MATMs Across India; Witnesses ₹500+ Crores Worth of Cash Withdrawal Every Month

Reaches out to 17, 600+ PIN codes through its 41+ lakh microentrepreneurs ensuring the availability of micro-ATMs for the unbanked and underbanked

In a bid to strengthen the ATM infrastructure in the country and to ensure that every citizen has access to cash anytime, anywhere, PayNearby, India’s leading digital payments company and largest branchless banking network, has established a colossal network of one lakh micro-ATMs (MATMs) operating across 17, 600+ PIN codes in India. According to RBI, the number of traditional ATMs in the country stands at 2.41 lakh for a population of 1.3 billion, PayNearby, with its one lakh MATMs is one of the fastest-growing MATM networks in the country. The company is looking to aggressively seed these ATMs across its 41+ lakh microentrepreneurs across the country and enable easy cash withdrawal at every doorstep at the last mile. Currently, PayNearby witnesses over ₹ 500 crores worth of ATM withdrawal every month.

The distribution of ATMs within India is very unbalanced, with metros having 53 ATMs per one lakh population, urban areas having 69 ATMs per one lakh population, semi-urban areas having 53 ATMs per one lakh population and the rural areas having a meagre 9 ATMs per one lakh population. When compared to its global counterparts, India is among the countries to have the lowest ATM penetration in the world. As compared to the world average of 50 ATMs per one lakh population, India is way below, at an average of 28 ATMs per one lakh population. Compared to this, China is at 98 ATMs per one lakh population and Brazil at 105 ATMs per one lakh population.

Given that over 65% of the Indian population resides in rural India, yet, they account for only 20 percent of all ATMs in the country. The cost of infrastructure acquisition and servicing is one of the main reasons that formal financial institutions find it difficult to operate ATMs in rural areas. To resolve this, PayNearby partners with neighbourhood retail stores and through its tech-led distribution network ensures high-end technology is simplified for easy consumption at the last mile, and all essential banking services are available to every citizen in the country through an assisted format at a store nearby. PayNearby is enabling its microentrepreneurs with low-cost ATM devices so that the last mile has easy access to cash withdrawal.

Speaking on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “At PayNearby, we have been diligently working towards the financial and digital empowerment of all citizens of India so that they have access to essential banking services. And, establishing a one lakh-strong ATM network is a landmark for us. Considering its USPs such as portability, affordability and low maintenance, micro-ATMs have been effective in curbing the infrastructure costs incurred, especially in rural India where a full-fledged ATM becomes unviable. PayNearby is nearly at half of the distribution of traditional ATMs in the country, and in the coming years aspires to surpass this number and set up about five lakh MATMs in the country so that every citizen in the country has easy access to cash that is lying in their accounts. We will continue expanding the micro-ATM network to all corners of India and aiding more customers with their financial needs anytime, anywhere. Zidd aage badhne ki!”

About PayNearby:

Incepted in April 2016, PayNearby is a fintech company creating technology and distribution network to reach financial/non-financial services to India and Bharat both. PayNearby empowers retail shop owners to offer digital services to local communities, thereby boosting digital financial inclusion. Retailer services are focused on Agent Banking, Digital payments, microSavings, microInsurance, Loan enablement among others.

It was founded by Anand Kumar Bajaj, Subhash Kumar, Yashwant Lodha & Rajesh Jha who bring with them rich experience in the field of banking, payments and other financial sectors. PayNearby is a DIPP-certified FinTech startup, partnering with various financial institutions including YES Bank, RBL Bank, IndusInd Bank, SBM Bank India, Equitas SFB, Ujjivan SFB, Axis Bank, ICICI Bank, State Bank of India, CC Avenue, Bill Desk, NPCI, FASTag, NBFC and FMCG companies. It is the sole technology provider using Aadhaar Enabled Payment Services (AEPS) and IMPS to YES Bank, making them one of the only two fintech companies hosted by the National Payments Corporation of India (NPCI).

Mswipe and OneCard Partner To Offer EMI at PoS

Mswipe, leading end to end digital enabler of SMEs, today said that it has partnered with OneCard, India’s first exclusive mobile-first credit card to offer no cost Equated Monthly Instalments (EMI) , across its 2.50 lakh strong retailer network.

The partnership will enable users of OneCard to seamlessly access no or low interest EMIs’ while availing mid and high-value purchases at retail outlets powered by Mswipe terminals.

The collaboration is expected to bolster consumer sentiments in a big way as customers can now seamlessly convert their purchase transactions into easy, no-interest monthly instalments.

With this partnership, Mswipe will power its partner brands to increase sales through attractive checkout offers to their customers, while also targeting the tech-savvy customers of OneCard. Mswipe is working with brand partners in designing value offers for customers. On the other hand, OneCard will offer its card users to seamlessly avail no interest or low interest EMIs at checkout.

Mswipe CEO Ketan Patel said, “Pay Later offerings delight shoppers and are a major consideration during purchase. It also improves the checkout process significantly by reducing the time taken to complete the purchase. Our solution helps brand partners to increase sales and retailers to add more revenue. We are happy to extend our ecosystem to OneCard customers.”

OneCard Co-founder and CMO Vibhav Hathi said “At OneCard, besides offering flexibility and visibility on spends, we offer our customer full control of every aspect involved in credit and payments. Our partnership with Mswipe will help us leverage their reach and technology expertise to provide our users a seamless & superior EMI experience. With this partnership our customers will now be able to enjoy hassle-free shopping while availing easy and affordable EMIs at check-out.”

OneCard aims to digitally revolutionize credit and payments in India. The card allows its users to control all aspects of OneCard from an app. This includes enabling offline and online transactions, enabling domestic and international transactions, paying the bill and locking the card. The OneCard app gives card holders a completely transparent view of their credit card spends, rewards, EMI, limits, payments, etc. FPL Technologies earlier launched OneScore in 2019, to empower people looking to monitor and manage their credit health in a simple and secure manner. The scoring platform is widely popular and has acquired more than 8 million users within just two years of its launch.

About Mswipe

Mswipe aims to be India’s largest financial services platform for SMEs by providing seamless, omni-channel digital payments and other value-added financial services. It is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 11 lakh QR merchants across the country. Mswipe offers a host of payment acceptance services for SME’s enabling them to accept - cards, wallets, mobile payment apps and bank apps, contactless and QR payments. Headquartered in Mumbai, Mswipe began operations in 2011. Its key investors include B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital.

About OneCard

OneCard is a mobile-first credit card created by FPL Technologies. FPL Technologies was founded by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, who come from banking backgrounds with deep expertise in payments, credit and building and scaling digital businesses. FPL is on a mission to re-imagine credit and payments from first principles; OneCard can be downloaded from www.getonecard.app

Mswipe’s Android-based Pos Device, Wisepos Go {phone + Pos Machine} to Benefit Karnataka Bank SME Customers

Addressing all the complexities faced by small businesses associated with business payments, Mswipe will power all SME customers of Karnataka Bank with its newly launched android-based POS device, WisePOS Go to streamline their business management.

A first-of-its-kind POS machine in India, WisePOS Go is a compact, light-weight and easy-to-use device that will help small business owners improve mobility by integrating payments with business applications in one single device.

A leading end-to-end digital enabler for MSMEs, Mswipe introduced WisePOS Go at a time when most businesses are using separate devices for accepting payments. This low-cost, easy-to-use, with advanced NFC, and QR code device works across platforms and has connectivity options, making it suitable for small business owners. Karnataka Bank customers will be able to integrate apps on the same POS device from Mswipe’s MoneyStore (a curated app preloaded on Mswipe’s smart POS terminals) and reap the benefits from multiple payment solution apps and value-added services on the same device.

Mswipe’s Chief Executive Officer, Mr. Ketan Patel said, “We are happy to develop this product for Karnataka Bank’s MSME customers which will simplify their payment processes. The introduction of ‘WisePOSGo’ is yet another step in the direction of expanding the digital payment infrastructure in the country and promote a cashless economy."

Mr. Mahabaleshwara M S, Managing Director & CEO of Karnataka Bank said, “This is yet another product in line with our vision of becoming the ‘Digital Bank of Future’. Mswipe’s compact, light-weight and user friendly device will be a game changer and transform the digital payment ecosystem associated with POS machines. By integrating payments with business applications in one single device, small business establishments will benefit by having an agile and conducive platform to source business. The ease of processing transactions through ‘WisePOSGo’ will help the Bank’s retail and MSME customers to augment their businesses by providing their consumers a convenient and flexible way of shopping”.

Mswipe aims to be India’s largest financial services platform for SMEs by providing seamless, omnichannel digital payments and other value-added financial services. It is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 1.1 million QR merchants across the country. Mswipe offers a host of payment acceptance services for SME’s enabling them to accept - cards, wallets, mobile payment apps and bank apps, contactless and QR payments. Headquartered in Mumbai, Mswipe began operations in 2011. Its key investors include B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital.

About Karnataka Bank

Karnataka Bank Limited, a leading 'A' Class Scheduled Commercial Bank in India, was incorporated in 1924 at Mangaluru, Karnataka. The Bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India. Over the years, the Bank grew with the merger of Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka.

With over 9 decades of experience at the forefront of providing professional banking services and quality customer service, it now has a national presence with a network of 858 branches spread across 22 states and 2 Union Territories. It is managed by a dedicated & professional management team, having over 8,220 employees, 1,46,000 shareholders and over 10.21 million customers. With a mission to be a technology savvy, customer centric progressive bank, driven by the highest standards of corporate governance and guided by sound ethical values, it has today emerged as a leading financial service institution in India.

PayNearby Partners with Visa and RBL Bank to Launch SoftPoS and mPOS

Aims to democratize digital payments and reduce cash transactions at the last mile by offering an all-inclusive payment acceptance infrastructure at retail touch points

• Transform everyday smartphones into merchant terminals (SoftPoS) at no additional cost
• Enable 2-in-1 Micro ATM devices, that double up as payment acceptance (mPOS) and cash withdrawal at very affordable pricing
• Offer merchants, an all-inclusive digital payment hub that ensures easy acceptance across different form factors and simplifies both merchant and customer experience
• With QR code payment, Aadhaar Pay, UPI, Online Payment Gateway and now Card Payments through mPOS and contactless payment through cards/tokenized mobile on SoftPoS, PayNearby becomes India’s leading company to consolidate form-factor agnostic digital payments in retail
• Aims to proliferate digital payment acceptance among the largely underserved 30 million plus Indian MSMEs
• In the wake of COVID, enable customers to make safe, contactless payments at the last mile
• The low cost, simplicity and choice of the different form factors will drive easy acceptance among tech shy Indians, thus accelerating digital adoption in the country

Mumbai, 16 August, 2021: In a bid to create a digitally one nation, PayNearby, India’s leading branchless banking and digital payments network, has partnered with Visa and RBL Bank to launch SoftPoS and mPOS for its 15,00,000+ retail network. With the addition of these options, PayNearby becomes the first company to launch an all-inclusive digital package for retailers that is form factor agnostic and provides a wide choice to end consumers. PayNearby’s upgraded digital payment package now supports QR code payment, UPI payment, Aadhaar Pay, SMS payment, Card payment (debit/credit/contactless) and payment through mobile tokenization.

While SoftPoS allows merchants to accept contactless payments of up to INR 5000 through a simple tap and pay mechanism on NFC-enabled smartphones, PayNearby’s 2-in-1 Micro ATM + MPOS machine allows easy acceptance of debit/credit cards at the last mile. Customers can use any physical card (debit/credit/contactless) or mobile with tokenization and pay easily by using the above options. Aiding PayNearby in this initiative is processing partner, PayNext and SoftPoS solution partner, Uvik.

A majority of India’s population is still tech-shy, dependent on cash and lying outside the folds of financial inclusion. One of the reasons for digital payments taking a back seat in the country is that smaller merchants do not have the money to invest in infrastructure. According to a cross country dataset released by RBI recently, the density of population dependent on a POS terminal is 358 in India, as against about 20 in neighbouring China, 10 in Brazil, Turkey, Netherlands and Italy. The dataset comparing 22 countries, showcases India to have the lowest POS density per person*.

However, the pandemic has amplified the need for contactless payments to reduce the risk of transmission. This has given a major boost to digital payment adoption in the country and is also helping in promoting new form factors and experiences in this sector. To make digital payments pervasive in the country, it has to be as seamless as accepting cash both on the merchant and the consumer side.

With the SoftPoS and mPOS offering, PayNearby aims to address the national challenge of inadequate payments infrastructure and eliminate barriers to seamless digital adoption. On the acceptance side, merchants do not have to spend a lot of money to lay down the foundation of digital acceptance and expand their customer base and sales. With SoftPoS, the ubiquitous smartphone can be converted into a digital acceptance device. The 2-in-1 micro ATM + mPOS machine drives value at very affordable pricing and allows easy acceptance of debit and credit card payments. With these innovations, local stores even in the remotest areas will now be able to process digital payments on their smartphones and Micro ATM devices. On the consumer side, the solution is as easy, secure and quick as exchanging cash.

Commenting on the occasion, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “As India moves towards rapid digital growth, PayNearby is committed to simplifying high-end technology for the bottom of the pyramid so that benefits of digital payments and digital banking can reach the masses. Through our SoftPoS and mPOS solutions, in partnership with Visa and RBL Bank, we wish to build an ecosystem by adding to the number of acceptance points for easy and fast digital payments. In the wake of COVID, this is vital for both our retail partners and their consumers.

Along with our existing solutions, introduction of SoftPoS and mPOS to our product portfolio enables us to offer a complete digital payment solution to Bharat. We are confident that the addition of SoftPoS to the JAM (Jan-Aadhaar- Mobile) trinity graduates Bharat to JAMS (Jan-Aadhaar-Mobile-SoftPoS), which will pave the way for a digital economy, and provide stimulus to communities at the grass root level. This will make ‘Digital India’ a closer reality, even at the remotest locations in Bharat.

We are extremely honored to partner with RBL Bank and Visa in these initiatives. Our partners bring with them demonstrated expertise in banking and digital payment products and lend credence and proficiency to the offering. We also thank PayNext and Uvik for joining us in this journey. At PayNearby, we will continue to innovate every single day to democratize digital solutions and make the dream of an equal Digital India come true."

Rajeev Ahuja, Executive Director RBL Bank said, “Payment platforms have been disrupted the most owing to the ever-evolving preferences in the financial ecosystem. We are delighted to partner with PayNearby to build and offer an innovative and secure payment solutions for the Indian MSMEs, the backbone of our economy. With this association, we look forward to empower the customers and retailers with a simple and seamless digital platform. It enables us to onboard merchants from various geographies and deepen the penetration of digital infrastructure in the country.”

Shailesh Paul, Head of Merchant Sales & Acquiring, India and South Asia, Visa said “As the country opens up slowly, it is critical to focus on the recovery of small merchants, the backbone of our economy. This sizeable segment has lagged in accepting digital payments due to notions of cost and infrastructure.

We’re delighted to partner with PayNearby to bring solutions like SoftPoS to merchants, and enable low cost, safe and simple Tap to Phone payments across the country at scale. Visa has committed to empowering and digitizing small businesses worldwide and in India, and partnering with fintechs like PayNearby is a definite step towards achieving that objective."

About PayNearby:

Incepted in April 2016, PayNearby is a fintech company creating technology and distribution network to reach financial/non-financial services to India and Bharat both. PayNearby empowers retail shop owners to offer digital services to local communities, thereby boosting digital financial inclusion. Retailer services are focused on Agent Banking, Digital payments, microSavings, microInsurance, Loan enablement among others.

It was founded by Anand Kumar Bajaj, Subhash Kumar, Yashwant Lodha & Rajesh Jha who bring with them rich experience in the field of banking, payments and other financial sectors. PayNearby is a DIPP-certified FinTech startup, partnering with various financial institutions including YES Bank, RBL Bank, IndusInd Bank, SBM Bank India, Equitas SFB, Ujjivan SFB, Axis Bank, ICICI Bank, State Bank of India, CC Avenue, Bill Desk, NPCI, FASTag, NBFC and FMCG companies. It is the sole technology provider using Aadhaar Enabled Payment Services (AEPS) and IMPS to YES Bank, making them one of the only two fintech companies hosted by the National Payments Corporation of India (NPCI). For details, please visit https://www.paynearby.in

Ezetap launches 'Zero Contact Payments for Delivery’ in India, Ensures Safe Home Deliveries

Ezetap, India’s leading payment solutions company, has launched an array of solutions under the umbrella of Zero Contact Payments for Delivery, focussing especially on the delivery segment, which is an integral part for business continuity across different sectors such as supermarkets, e-commerce, logistics, pharmacy, restaurants, etc. The use cases such as NFC Card Payments, QR code payments, and SMS Payment Links will ensure safe and contactless deliveries for online shoppers and delivery agents as well.

To curb the spread of COVID-19, RBI and NPCI have been encouraging the adoption of digital payments. While cash payments result in close proximity, customers and delivery agents are hesitant to exchange notes, as the virus can remain on surfaces including currency notes for a few hours. Businesses of all sizes are entering the delivery segment as delivery agents and customers are both concerned about safety. This has resulted in increased awareness and a boom for contactless deliveries, as it is rapidly becoming the new norm and strategy for business expansion and continuity across different sectors.

Here are the new Zero Contact payment features by Ezetap, with enhanced customer experience, that ensures safety across multiple touch-points during a home delivery.

• NFC Card Payments: As soon as the delivery agent reaches the doorstep one can pay via NFC credit or debit card with a single tap on the PoS device.
• Dynamic QR Codes: The delivery agent uses his mobile or POS device and generates a QR code containing the order information and payment details and displays it to the customer. This allows the customer to scan the QR using any UPI app.
• Static QR Codes: In this use case, the agent carries a predesignated QR code assigned specially for him. The customer can then scan this QR code to make the payment, again maintaining a gap of 6 ft.
• SMS Pay Link: To ensure safety, many co-operative housing societies have banned the entry of delivery agents. In such a situation, a delivery agent can share an SMS Pay link to the customer, encouraging payments via UPI, credit/debit or net banking; which the customer can facilitate from the convenience of their homes. The delivery agent can track the progress of the customer’s payment journey, receive the payment, and leave the package at the main gate without worry / confidently.
• Bulk SMS: Ezetap has also introduced a bulk SMS feature which can be sent to all customers on the morning of the delivery.

Commenting on the Zero Contact Payments announcement, Byas Nambisan—CEO at Ezetap, said, “Social distancing amid COVID-19 has fuelled a surge in the use of contactless payments. Ezetap's ‘Zero Contact Payments for Delivery’ will allow customers to pay for goods or services digitally, instead of using cash. While Ezetap has been the leader in the delivery segment in India, this solution solves the problems that Covid-19 and the lockdown have created for companies that accept payment via cash on delivery. Offering multiple payment options on a single device makes the entire process smooth and low touch. Apart from simplifying omnichannel payment acceptance, it further ensures a customized payment experience based on different business needs.”

Since the inception of the company in 2011, Ezetap has been serving India’s leading players in the delivery segment and has been fundamentally changing how hundreds of millions of people pay for goods and services on a daily basis—by enabling businesses to accept any type of payment via any type of digital instrument (cards, wallets, apps) through a single interface. Ezetap platform has end-to-end capabilities to handle digital payment processing right from switching to reconciliation, using its own hardware and software.

How Paytm's Scan to Order Service can Enable A Safe Dining Out and Food Ordering Experience To Millions Of Indians

Paytm's brand new innovation Scan to Order provides a safe, contactless food ordering & dining experience to millions of Indians eager to venture out post easing of the lockdown norms. Whether visiting star-rated hotel, gourmet restaurant, cafe, or neighbourhood eatery, take away joint, Paytm's QR code-based solution helps in maintaining social distancing and empowers restaurant owners to regain the confidence of customers.  

The entire experience, right from going through the menu, placing an order to dining-in/take-away and making the payment has now become hygienic and safe. The user simply walks in the restaurant and scans the QR code from the Paytm app to browse the menu. All the user needs to do next is place the order and make the payment using his phone, thereby effectively avoiding the need to touch menu cards and minimizing interaction with the servers. To make it more convenient, Paytm Scan to Order supports each of the payment methods that include Paytm Wallet, Paytm UPI, net-banking, and cards and offers live order updates on the Paytm app.  


Here is the step-by-step guide on how to use the Scan to order service

1. Scan the QR Code of the restaurant using Paytm app and check the menu


2. Add your favourite food to your cart by selecting 'Add' icon 


3. Next, select 'Go to cart' option at the bottom. Apply promocode, if applicable


4. To complete the transaction, tap on 'Proceed to Payment' option  
   

That's it. Your order is placed and you will be notified once the food is prepared. Paytm is offering 'Scan to Order' QR Code as a white label product to restaurants and food establishments so that they can use their logo, brand colour on the QR card, and it can be merged into their own brand pamphlets, hoardings, and signboards. Also, the company is having advanced discussions with multiple state governments urging them to make contactless QR based food ordering part of the standard operating procedure for opening food establishments.   

Innoviti Launches Saadhan POS for Instant UPI and RuPay Acceptance Enablement at B2B Businesses

Leading payment solutions provider, Innoviti Payment Solutions, announced the launch of its new Saadhan POS solution which is specifically designed to provide B2B businesses a quick and convenient packaged option, to become compliant with the recently announced Regulatory requirements that mandate compulsory provision of UPI and RuPay acceptance modes at all businesses with annual turnover exceeding Rs. 50 Cr.

The new Saadhan POS comes pre-enabled to accept both RuPay Debit Cards as well as UPI-QR transactions, enabling B2B businesses to accept payments from their business customers through any of these options. All RuPay debit card and UPI transactions on Saadhan POS will have zero charges. The POS will additionally accept Visa and Master issued credit and debit cards. It will, therefore, provide businesses the benefit of accepting all forms of payments on a single unified POS device, greatly simplifying backend reconciliation of payments. A specially designed benefit of the Saadhan POS solution for merchants, is that it comes pre-packaged with all necessary back-end transaction acquiring arrangements with acquiring banks, thereby enabling the Saadhan POS to be activated for the merchant within 15 minutes, in sharp contrast to existing industry norm of nearly 1-2 weeks.

Additionally, the Saadhan POS is complemented by a convenient mobile phone-based Tracking App that allows the merchant to track his transaction processing and settlement on a real-time basis across both RuPay and UPI transactions. It also provides merchants the additional feature flexibility of processing transaction through either the regular route or as EMI billing transactions.

Speaking about the launch, Ms. Amrita Malik, Chief Business Officer, Innoviti, said, "Consistent innovation to meet rapidly evolving business needs of our merchant partners is at the very core of Innoviti's DNA. The recent regulatory changes making UPI and RuPay Debit acceptance mandatory for specified businesses has created a need amongst our partners for a simple one-stop solution that can be enabled quickly to meet regulatory deadlines. The new Saadhan POS is carefully designed to meet those expectations and we are delighted with the response it is getting from our retailer partners."

Across India, Innoviti processes over US$ 6.5Bn of payments annually from over 1000+ cities, with a throughput per point of acceptance of 7000$, 2X of India's average (as per RBI data). Innoviti's payment solutions help merchants, banks and brands influence commercial transactions happening in offline commerce more efficiently than possible otherwise, through unconventional use of payment terminals.



Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, SBI Venture Capital, Singapore and Catamaran, India.

Innoviti Payment Solutions runs a payment platform that has a unique ability to add intelligence to traditional payment channels, enhancing their value. Merchants, brands and financial service providers use these intelligent payment channels to reduce cost and drive sales of their products. Innoviti processes over Rs. 40,000 Cr. of payment transactions, about 6% of all offline merchant payment transactions in India. This also includes Rs. 1,500 Cr. of transactions involving distribution of loans to consumers and small businesses. The most capital efficient company in this space, Innoviti processes more volume for every $ raised than any other payments company. The company is backed by marquee investors such as Catamaran Ventures, SBI Venture Capital and Bessemer Venture Partners.

How to Leverage Your POS Data

Your point of sale system is capable of collecting and analyzing a significant amount of data. While cash registers can only oversee transactions, more advanced systems keep track of your sales, different customers, tax information, inventory, employee hours, and more. 

In the past, you compiled such data and created your own reports on a quarterly or monthly basis. These reports gave you a comprehensive look at your business so that you could take a step back and decide how to go forward. 

Creating these reports was a tedious task, though, and it left lots of room for error. You also wanted to make projections about the future, but sometimes the numbers weren’t clear enough. 

Reports that your POS system generates can help you do the same thing, but they can go much more in-depth and provide you with a daily or even real-time look at your business’s overall picture. They can also offer recommendations, suggestions, and help you notice patterns. While the system can communicate information to you, it’s ultimately your choice what you do with it. Here are a few ways you can leverage your POS system effectively: 

Understand your customers better

You should never invade your customers’ privacy and ask them to share too much. What you can do is look at the basic data: how often do they come in, and what do they usually buy? What are your customers’ demographics? Are you catering to them appropriately? Your customers may appreciate your factoring in their preferences whenever they enter your store. 

If customers willingly give you email addresses, you can ask if they’d like to be included in email marketing campaigns. You can use your POS system to create personalized product recommendations and customized promotions. If your system notes a trend amongst customers, you can create a general campaign that will appeal to their collective behaviors. 

Manage inventory more efficiently

Managing inventory manually is a daunting and frustrating task. There’s a great deal of room for error here, and it’s a headache to keep track of everything on a spreadsheet. You might already use inventory management software, but your operations will flow much smoother if it’s integrated into your point of sale system. 

The kind of data your POS platform will collect includes the number of products sold, how much you have recently ordered, where in the supply chain products are, how much of anything is currently on-site, items’ specific locations, and more. 

You can leverage this information to manage your storage room or warehouse more efficiently. Customers will never be disappointed that you are short on something, but you also won’t waste money storing excess product that isn’t selling well. 

With a POS system, you and your employees won’t have to run back and forth between the sales floor and the backroom to check if specific products are available—all you need to do is search for it on the mobile database. This way, you won’t keep customers waiting, and you’ll have real-time information about what’s going on in your business. 

Handling returns

On a related note, your POS system keeps track of returns and refunds (and updates inventory automatically to reflect changes). You can use this information to determine why customers are bringing things back: are the products damaged, or falsely advertised? You can then give a refund directly through the system. 

Staff appropriately 

Your POS software will also be able to tell you what your busiest times of day are. For instance, a coffee shop might see a burst of activity in the early mornings and later in the afternoons. You can use this data to make sure you are staffed appropriately. When do you need more or fewer employees on-site? 

Track sales patterns 

You created a business strategy when you first opened, but it is unlikely that it hasn’t changed over time. It’s essential to adjust your plan when you realize what works and what doesn’t. What are your most popular items? Which products are not selling as well as you expected them too? With data points like these from your POS system, you can amend your strategy according to the numbers. 

For example, are you noticing a trend that you hadn’t predicted? That’s okay; your POS system can suggest ways to adapt. Perhaps you need to shift your hours of operation, staff more people on particular days, or rearrange products on the sales floor. When you have detailed insight into your business, you can make better data-driven decisions. 

Your POS system can tell you a great deal and make suggestions, but what you do with said information is up to you. How would you like to leverage POS system data?