Point-of-Sale (POS) terminals today are increasingly sophisticated, feature-rich, easy to use, and available at a range of prices. The benefit that the softPOS brings here is that it is a simple app/ SDK, creating payments acceptance infrastructure that is low-cost and easy to distribute.
Any merchant can commence accepting payments via an app download onto an NFC enabled device, quickly converting it into a POS terminal without any additional hardware like a card reader or separate installation. SoftPOS thus allows the quick and easy acceptance of card, UPI, QR code and payments link based payments for merchants, even on their existing smartphones and other devices.
What does this report contain?
This report by Cashfree Payments, in association with Digital Fifth, dives into the evolution of the POS terminal, the changing payments landscape with UPI’s entry and the softPOS’s potential to level the playing field for cards in the offline space. Here's the summary of the report,