Simplifying payment acceptance for merchants while offering a seamless payment experience for customers
The digital payment space has seen remarkable growth in the last decade with the introduction of innovative payment modes, favourable government policies, and wide-scale customer adoption. The COVID-19 pandemic further fuelled the proliferation of digital payment modes, propelling the country towards non-cash alternatives.
Despite the growth in digital payments, there is still a long way to go in terms of improving digital payment infrastructure. The density of the population dependent on a POS system in India continues to be high at 358 when compared to other emerging economies. Innovative POS payment processing solutions can further drive merchant acceptance of digital payments while providing customers with convenient and secure payment modes.
Remarkable innovations such as NFC-based contactless POS, integrated POS for large retailers and government institutions, and compact POS devices such as mobile POS (MPOS), Unified POS, and Soft POS are nowadays transforming the digital payments experience for both customers and merchants alike.
NFC-based contactless POS – NFC-based contactless card payment allows for safe and secure transactions as customers need not hand over the card to the merchant but just need to tap or wave their credit or debit card over the POS machine for making payments, enabling a faster checkout experience that benefits both customers and merchants.
Unified POS – Apart from the standard card payments, the Unified POS system also enables Bharat QR, UPI, and mobile wallet transactions on the POS device, providing customers with the choice of multiple payment options. This is also helpful from the merchant’s perspective as it enables acceptance of various payment options through a single device.
Soft POS – The Soft POS payment processing solution enables merchants to accept payments via their smartphones, empowering banks and merchant aggregators to roll out digital payment services to more merchants faster and is also cost-effective.
POS value-added services – POS value-added services help merchants manage their businesses more efficiently while offering innovation in payments. These include inventory management, EMI, Pay Later and Dynamic Currency Conversion among others..
These innovative POS solutions further simplify payment acceptance for merchants while offering security, speed, and ease of use for customers, thereby enhancing the payment experience.
As a leading digital payment solution provider, Hitachi Payment Services offers a diverse range of POS solutions including traditional merchant POS/MPOS solutions, integrated POS solutions, Soft POS solutions, and value-added services that enable banks, small businesses, and merchant aggregators to provide top-of-the-line digital payment services. With a state-of-the-art, secure, and agile technology platform, our comprehensive offering includes end-to-end real-time payments processing solutions, merchant management, risk management, asset management, settlement and reconciliation services, and field services.
