Cashfree Payments launches softPOS for businesses

  • softPOS is available as an Android app, and businesses can use the app to generate UPI QR codes, create payment links, and enable card payments via NFC-based Tap and Pay, and also record and manage cash collections

Livemint
First Published14 Mar 2022, 12:39 PM IST
Cashfree Payments also offers payment methods such as wallets, EMI and other Buy Now Pay Later options through the softPOS.
Cashfree Payments also offers payment methods such as wallets, EMI and other Buy Now Pay Later options through the softPOS.

Cashfree Payments, a leading payments and API banking solutions company, today announced the launch of ‘softPOS’, a point of sale (POS) solution for businesses including grocery stores, retail shops, food delivery apps, automobile industry, and NBFCs.

softPOS is available as an Android app, and businesses can use the app to generate UPI QR codes, create payment links, and enable card payments via NFC-based Tap and Pay, and also record and manage cash collections, according to the Cashfree press release.

Cashfree Payments also offers payment methods such as wallets, EMI and other Buy Now Pay Later options through the softPOS.

The solution is available on Google Play Store and can convert an Android phone into a POS machine. To use the app, businesses can sign up on Cashfree Payments and add their delivery agents, collection agents or other employees as app users.

Agents can then download the app on their mobile phones and start accepting payments through an OTP-based login. Businesses can view the collections from each agent independently and receive the payments directly in their business accounts. The digital nature of the solution removes the dependency on the physical POS machines and also enables visibility and control over their collections.

Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “softPOS is our effort to revolutionize the way businesses manage their payments. We believe that this product launch will help merchants to scale and analyze their POS operations, in turn generating greater value for their customers. Merchants today need effective yet economical POS tools to create a better sales environment for end-users. At Cashfree Payments, we are focused on solving problems with our innovative approach and high tech infrastructure. We are developing new age products by constantly studying and recognising industry bottlenecks, and firmly believe that together we are going to make digital payments collections simple, flexible and reliable.”

Recently, India’s largest lender, SBI invested in Cashfree Payments further underscoring the company’s role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE.

 

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First Published:14 Mar 2022, 12:39 PM IST
HomeCompaniesNewsCashfree Payments launches softPOS for businesses

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