NPCI is looking to expand the use of RuPay SoftPOS among micro, small and medium-sized businesses across India. Credit: Aditya Rathod on Unsplash.

National Payments Corporation of India (NPCI) has selected Turkish payment firm PayCore to develop SoftPOS solution for its card network RuPay.

RuPay SoftPOS will enable merchants to accept payments securely from contactless cards, mobile wallets, and wearables using their mobile phones.

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As part of its goal to create a cashless digital society in India, NPCI is looking to expand the use of RuPay SoftPOS among micro, small, and medium-sized businesses across the country.

NPCI  Corporates & New Initiatives chief of Fintechs Nalin Bansal said: “The RuPay SoftPoS will not only help merchants seamlessly manage their business transactions but also reduce the hassle of handling cash by accepting multiple payment modes including QR-based payment solutions over UPI.”

Bansal added that it is important to digitally empower small merchants to facilitate deeper penetration of digital acceptance infrastructure in the country.

PayCore’s SoftPOS is solution is used by Indian payment firms including Hitachi Payment and SBI Payment, the payment solutions company of the State Bank of India (SBI).

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Commenting on the partnership, PayCore CEO Ali Kançal said the collaboration with NPCI will enable the firm to reach more businesses in the country and introduce them to digital payments.

Kançal further said: “With PayCore’s SoftPOS solution, which enables smartphones and tablets to be used as POS terminals without any additional devices, the investment costs required by banks to reach over 63 million micro-, small- and medium-sized businesses will be significantly reduced.”

In March this year, reports said that NPCI was planning to introduce a new payment solution for feature phone users.

In January this year, RuPay partnered with private lender RBL Bank to launch ‘RuPay POS’ solution for merchants.