Airtel Payments Bank has upgraded its app to empower its merchant partners with a range of digital benefits to make their payments journey more simplified. The app now comes with two new features ‘Smart ePOS’ and ‘On-Demand Settlement’.
Ganesh Ananthanarayanan, Chief Operating Officer Airtel Payments Bank, said merchant partners play a crucial role in driving digital payments on the ground and empowering them with easy to use payment solutions is of utmost importance. He said the new solutions allow merchants to receive and settle payments through a seamless and secure digital process. “This is one more step towards our aim of building a cashless economy.”
The Smart e-POS (Point of Sale) enables merchants to use their smartphones as a POS machine to accept digital payments and not worry about handling cash. Merchants just need to select the Smart ePOS option in the app. A QR code will appear on the mobile screen for the payments to be made. The amount will get credited immediately to the merchant bank account linked to the app. This eliminates the need to have a physical QR code or the need to carry an additional device to receive payments from home deliveries. Merchants can also accept payments with zero commission charges.
The On-Demand Settlement feature enables merchants to transfer their payments into their bank accounts at any time as per their convenience. The money is instantly credited to the merchant’s registered bank account. Moreover, there are a host of other additions. Merchants can easily monitor their daily earnings, check transaction statements, payment settlement history, and even buy shop insurance for themselves. They can also refer to the help and support section in case of any problem.
Airtel Payments Bank has about 1.5 million merchants across multiple categories and formats. It aims to expand its Merchant base and plans to add over one million new merchants to its network in the coming months.