India-based payments and banking technology company Cashfree Payments has introduced a Point of Sale (POS) solution for businesses called softPOS.
The solution converts Android phones into POS machines facilitating cashless transactions.
Businesses such as grocery stores, retail shops, food delivery apps, automobile industry, NBFCs engaged in door-to-door collections can use the softPOS.
It is available as an Android app and can be used to generate UPI QR codes, create payment links as well as enable card payments through NFC-based Tap and Pay.
softPOS can also maintain cash collection records.
Cashfree Payments CEO and co-founder Akash Sinha said: “softPOS is our effort to revolutionise the way businesses manage their payments. We believe that this product launch will help merchants to scale and analyse their POS operations, in turn generating greater value for their customers.
“Merchants today need effective yet economical POS tools to create a better sales environment for end-users. At Cashfree Payments, we are focused on solving problems with our innovative approach and high tech infrastructure.
“We are developing new age products by constantly studying and recognising industry bottlenecks, and firmly believe that together we are going to make digital payments collections simple, flexible and reliable.”
Interested businesses can sign up and complete a KYC process to enable softPOS. Once complete, the businesses can start adding agents.
The agents in turn need to download the app and login to start accepting payments.