National Payments Corporation of India (NPCI) has launched a new in-store payment solution, which enables customers to pay with their unified payments interface (UPI) apps at any standard POS terminal using a QR code.
The new UPI payment facility is currently live in more than 200 Reliance Retail stores in Mumbai across formats such as Reliance Fresh, Reliance Smart, Reliance Digital, Reliance Trends, and Reliance Footprint.
The feature will eventually be launched across all Reliance retail stores across India.
NPCI managing director and CEO Mr A Hota said: “As part of NPCI’s overall mission to encourage faster adoption of cashless payments in retail, the current rollout opens the path to extending UPI payment acceptance to potentially all the card accepting merchants in India.
“This initiative will increase UPI payment acceptance points in retail stores.”
Developed by Innoviti Payment Solutions, with process support from Axis Bank, the payment solution will enable customer payments through UPI platforms such as BHIM or other bank-promoted apps.
Reliance Digital CEO Brian Bade said: “Reliance Digital, India’s largest electronics retail chain, has always embraced best of technological innovations with focus on improving customer experience.
“It is our pleasure to be part of this landmark initiative as we lead the introduction of NPCI’s new in-shop UPI payment facility with the maiden transaction at our Reliance Digital store.”
The new QR-code based solution uses the store's existing credit/debit card POS terminal to enable UPI-based cashless payments.
It also enables the crucial payment confirmation to be received on cashier-independent infrastructure such as the store POS terminal.
Image: Left to right- Axis Bank executive director Rajiv Anand, NPCI managing director and CEO Mr A Hota, Reliance Retail whole time director Mr Subramaniam and Innoviti Payment Solutions CEO Rajeev Agrawal. Photo: courtesy of National Payments Corporation of India.