ePaisa starts accepting payments through UPI
ePaisa co-founder Siddharth Arora says with the growing emphasis on digital India and cashless economy it is important that the merchants digitise their business at grass root level
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New Delhi: ePaisa, a mobile point of sale (POS) solution, on Monday said that it had started accepting United Payments Interface(UPI) payments on its platform. With this introduction, the company is now accepting UPI, along with digital wallets, cash, credit card, debit card and bitcoins.
The app was introduced as a smart business tool especially for small business owners. With the introduction of UPI, the consumers can now pay though with their Virtual Private Address (VPA) across outlets like grocery stores, quick service restaurants (QSRs) and other small brick and mortar merchants. All that the merchants need to is, enter the VPA of the consumer and send the payment request to the consumer. Once the consumer approves the request, the payment is processed.
“At ePaisa we are strengthening our merchants’ business by encouraging them to accept payments through multiple channels that the consumer may choose. With the growing emphasis on digital India and cashless economy it is important that the merchants also digitise their business at grass root level. The mobile payment industry is continuously evolving, and UPI is surely a game changer in this space if players like us take this initiative to the merchants,” said Siddharth Arora, co-founder, ePaisa.
The multi-lingual mobile app manages payments, billing, inventory and digital receipts for its customers along with offering value-dded services- all through a mobile phone or tablet, it replaces the clunky old registers and gives business owners the ability to digitize their business.
“We believe that India will be truly digital only when business owners start to digitize their point of sale,” added Arora.
Recently,digital payments and e-commerce platform Instamojo partnered with ICICI Bank Ltd to allow individuals and small businesses collect payments through UPI on its platform.
Last week, Razorpay, an online payments platform for small businesses, start-ups and other small and medium organisations like schools, colleges and training centres also introduced UPI-enabled payments on its platform.