NPCI Partners SBI Payments to launch “RuPay SoftPoS” for Merchants

Current GK ( Master) Banking Awareness

National Payments Corporation of India (NPCI) and SBI Payments have partnered to launch “RuPay SoftPoS” for Indian merchants.
RuPay SoftPoS will enable merchants to use their near-field communication (NFC)-enabled smartphones as point of sale (PoS) terminals and accept payment up to Rs 5,000 through a simple tap and pay mechanism.
Merchants can convert their existing android smartphone devices into a payment terminal by simply downloading a supported app.
The RuPay SoftPoS solution will provide cost effective acceptance infrastructure to retailers at nominal cost.