Small business and merchant partners receive a democratized payment solution through Paytm's launch of an all-inclusive Android point-of-sales device.
Paytm, a digital payments platform owned by One97 Communications Limited, has unveiled a new All-in-One Android Point of Sale (POS) device designed to streamline transactions for businesses across India.
The Paytm All-in-One Android POS is a fully-loaded payment acceptance device, equipped with industry-first features and services. It is designed to accept payments, print bills, and scan items for a faster checkout at the counter. The device works on Wi-Fi and comes with a pre-installed SIM card, ensuring round-the-clock connectivity with all of Paytm's bouquet of services.
Vijay Shekhar Sharma, Founder & CEO of Paytm, stated that the device offers a comprehensive business tool for small businesses and will help expand the market for digital payments. The device comes with a full-size display and is pre-bundled with cloud-based software for billing, payments, and customer management.
Event organizers can now sell tickets and accept payments using the Paytm All-in-One Android POS machine, eliminating the need for box-offices at open-air concerts. The device supports industry-specific solutions, such as 'Restaurant Management' for table ordering and billing. It also enables merchants to handle ticket sales and events management through partnerships with TicketNew and Insider.in.
Companies using the Paytm All-in-One Android POS include small retailers, restaurants, and service providers, particularly in India. Industries benefiting from automation and efficiency include retail, hospitality, and quick-service restaurants. The device allows merchants to accept payments through Paytm Wallet, UPI-based apps, Debit & Credit Cards, and Cash.
The use of the Paytm All-in-One Android POS has been successfully piloted in various sectors, including bus ticketing, parking management, BFSI, logistics, and home delivery. One of Paytm's key partners, IRCTC, is using the Paytm All-in-One Android POS machines to bill food items sold inside trains. This aids in sales tracking and inventory management.
Nandan Nilekani, Co-founder and Chairman of Infosys, expressed gratitude for Paytm's contribution to democratizing payments. He considers the Paytm All-in-One Android POS as an important device in the digital payments market.
Paytm aims to include support for many more industries in the future, with updates and new features made available automatically without the need for device changes. The device has a super sleek Android form factor with cloud services. Merchants can also generate GST compliant bills and manage all transactions and settlements through the 'Paytm for Business' app.
The launch of the Paytm All-in-One Android POS is a result of One97 Communications Limited investing a lot of time in understanding the needs of small businesses around digital payments over the past 18 months. Nilekani considers this device a significant step towards a cashless economy in India.
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