Paytm will spend Rs 100 crore on distribution and marketing of the country's first pocket Android POS device for contactless ordering & payments. The company has introduced 'Paytm All-in-One Portable Android Smart POS' at an introductory price of Rs 499 per month rental.
Styled like a mobile phone for accepting orders and payments on the go, this is the first such Android-based device to be introduced in India and is much more powerful than the portable Linux based POS devices presently available in the country.
It also comes bundled with Paytm's 'Scan to Order' service that is fast getting adopted by thousands of restaurants and takeaway joints the country. Paytm is offering this high-end POS device effectively at the lowest price in the market, in an effort to empower a large number of SMEs to kickstart their businesses with contactless ordering and payment solutions.
This device enables delivery personnel logistic players, Kirana stores, and small shopkeepers to accept digital payments on the go.
The robust, featherweight & ergonomic device weighs only 163 grams, 12mm thick, and has a 4.5-inch touch screen. It comes bundled with a powerful processor, all-day battery life, and an inbuilt camera to scan QR codes and instantly process payment. This fully-loaded device has many industry-first features & services including 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 company aims to issue over 2 lakh devices within the next few months which will generate over 20 million transactions per month.
This smart POS device is integrated with the â€˜Paytm for Businessâ€™ app to generate GST compliant bills and also to manage all transactions and settlements. Besides this, Paytm for Business app also helps merchants to avail of numerous business services and financial solutions such as loans, insurance, and Business Khata to manage digital ledger of all their transactions including udhaar, cash, and card sales.
It also has a merchandise store on the app offering Paytm All-in-One QR integrated utility items such as soundbox, calculator, power bank, clock, pen stands, and radio. 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.
Renu Satti, Sr. Vice President at Paytm, said, "We innovate products & services that are aligned with our mission of enabling SMEs with technology-led solutions. We are confident that this affordable pocket-sized Paytm Android POS device will enable everyone from SMEs to delivery personnel of Kirana Stores to collect payments safely. It is our endeavour to help merchants & traders to easily digitize their business operations, without any investment in technology or backend infrastructure. Our Paytm for Business app, Khata, and payout services are providing the much-needed digitization support to businesses to improve their efficiency & supporting them to join the Digital India mission."
Launched this year, Paytm Payout is fast becoming a must-have tool for businesses to make regular payments to their employees, vendors, and business partners. During the ongoing pandemic, more businesses have used the service to process payments of over Rs 1500 crores either to the Paytm wallet, food wallet, gift voucher, or bank account of millions of beneficiaries.