Indian fintech decacorn Paytm has launched India’s first pocket Android point-of-sale (PoS) device for contactless ordering and payments. The company says that the device forms part of Paytm’s mission to empower small and medium enterprises (SMEs) with technology-led solutions for digital payments.
‘Paytm All-in-One Portable Android Smart POS’ at an introductory price of INR 499 per month rental, is styled like a mobile phone for accepting orders and payments on the go. The company says that it’s the first such Android-based PoS device, as the ones currently being used in the country are powered by Linux. Among the other features available in the device are — contactless ordering software for SMEs, restaurants and takeaway joints, integrated billing software, camera for QR scanning, 4G-enabled, Wifi and Bluetooth connectivity. Paytm says it would invest INR 100 Cr in distribution and marketing of these devices in the fiscal year 2020-21.
The device, which weighs only 163 grams, is 12mm thick, and has a 4.5-inch touch screen, is integrated with the ‘Paytm for Business’ app, to generate GST compliant bills and also to manage all transactions and settlements.
The ‘Paytm for Business’ app helps merchants avail business services such as loans, insurance, and business khata (account) to manage digital ledger of all their transactions including loan, cash, and card sales.