Paytm's new pocket-sized Android payment device to help small and medium business
The device is priced at only INR 499 a month
On Monday, Paytm, the leading digital payment service launched an Android-based, pocked-sized point of sale (POS) device that is enabled with integrated billing software, camera for QR scanning and supports 4G SIM cards Wi-Fi and Bluetooth connectivity.
Available for an introductory monthly rental of Rs 499, the 'Paytm All-in-One Portable Android Smart POS' can accept orders and payments on the go. Aiming to invest Rs 100 crore on the distribution and marketing of these devices in the financial year 2021, Paytm said it will issue over two lakh devices within the next few months that are likely to generate over 20 million transactions per month.
"This affordable pocket-sized Android POS device will enable everyone from SMEs (small and medium enterprises) to delivery personnel of kirana stores to collect payments safely," said Renu Satti, Senior Vice President at Paytm.
According to the company, it is more powerful and secure than the portable Linux-based POS devices currently available in the country.
The POS device comes bundled with Paytm's 'Scan to Order' service. This is how it works. The ergonomic device weighs 163 grams, is 12mm thick and has a 4.5-inch touch screen. It comes with a powerful processor, all-day battery life, and an inbuilt camera to scan QR codes and instantly process payment.
The device has several industry-first features like Cloud-based software for billing, payments, and customer management. It works with 4G SIM cards, Wi-Fi and has Bluetooth connectivity to ensure payments never fail and stays round the clock connected with all of Paytm's bouquet of services.
The smart POS device is integrated with the ‘Paytm for Business' app to generate GST compliant bills and also to manage all transactions and settlements, said the company.
The Paytm for Business App has witnessed over 20 million downloads and is one of the most popular merchant apps on Google Play Store and App Store.
"Our ‘Paytm for Business' app, Khata and payout services are providing the much-needed digitisation support to businesses to improve their efficiency," Satti said.
*Edited from an IANS report