Paytm Launches POS Mobile App For Merchants

Paytm has announced the launch of PoS (Point of Sale) mobile app for small and middle-scale merchants on Wednesday. This new app will allow them to accept all kinds of card payments including RuPay, Visa, MasterCard, and Maestro.

According to the company, all merchants can self-declare their bank account details under the ‘Accept Payments’ icon on the app to receive payments instantly. And, it's just a bank transfer system from merchant’s account to customer’s account.

Currently Paytm has made this feature available on the latest Android app and still working on iOS app.

The company CEO and founder - Vijay Shekar Sharma said,

Further, through this move the company aims to empower 15 million merchants (as per RBI) across the country to accept debit and credit card payments via its app. As a part of an introductory, the company is not taking any charges on transactions via debit cards till December 31, 2016.

And yesterday, RBI has announced that digital wallets and prepaid instruments (PPIs) will limit the balance amount to Rs 20,000. The regulation also limited the money transfer up to Rs 50,000 per month to merchants on their linked bank accounts without any transaction limit via these semi-closed PPIs.

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