Mastercard has collaborated with payment solution company Mosambee to introduce a new multipurpose POS machine.
The machine will enable small merchants in India to accept digital payments.
Dubbed SamosaPoS, the new device will accept credit cards, debit cards, BharatQR and e-wallets.
The POS will calculate bills, track sales and inventory stock, as well as for receivables recording.
Mastercard senior vice-president of market development for South Asia Rajeev Kumar said: “Through this partnership with Mosambee, Mastercard’s aim is to reach out to small, micro merchants, kirana stores and create a behavioural shift towards accepting digital payments.
“Mastercard believes that ‘Samosa PoS’ will prove to be the simplest and most cost effective solution for merchants and help in driving last mile connectivity.”
Furthermore, Kumar added that such collaboration could make India the largest payment acceptance market by 2020.
Mosambee co-founder Sameer Chugh said: “‘SamosaPoS’ is another example of Mosambee’s attempt to bring a disruptive solution that is familiar in every way, but is packed with a set of unmatched features. We are proud and excited to announce our strategic partnership with Mastercard to jointly promote this solution across various geographies.”
The launch comes soon after the country’s central bank permitted authorised card payment networks, such as Mastercard and Visa, to provide card tokenisation services to any token requestor.
The tokenisation services are applicable for all channels, including in-app payments.