What is softPOS
Cashfree Payments, an Indian payment, and API banking solutions company introduced ‘softPOS’ on March 14, 2022. softPOS is a Point of Sale (POS) solution for businesses like grocery stores, retail shops, food delivery apps, automobile industry, NBFCs, etc, Doing door-to-door collections. softPOS is available as an Android app. Businesses can use the app to generate UPI QR codes, create payment links, enable card payments through NFC-based Tap and Pay, and record and manage cash collections. This App is available on Google Play Store and can convert an Android phone into a POS machine. Currently, Cashfree is the provider of softPOS in India so to use the app, businesses can sign up on Cashfree Payments and add their delivery agents, collection agents, or other employees as app users. The agent can then download the app to their phone and start receiving payments over the OTP connection. Businesses can view each agent’s bill independently and receive payments directly into their business account. The digital nature of the solution removes the reliance on physical POS machines and also provides visibility and control over their collection.
Here’s the process to avail the softPOS offering:
- Businesses can sign up on Cashfree and complete paperless KYC. Once completed, softPOS will be enabled for the said merchant and the merchant can start adding agents to collect payments on his behalf. All collections will be reflected collectively on the merchant dashboard.
- To start using the app: Merchants/agents will require an Android device on which the softPos app can be downloaded.
Cost, time for accusation, and maintenance become barriers to PoS adoption, leading to a preference for cash payments to small and medium businesses. High dependency on the imported physical PoS terminals is also a factor. As an alternative, softPoS can work as a game-changer to foster digital payments, owing to increased internet and smartphone penetration in semi-urban and rural areas. Even for larger businesses, the ease of its deployment and its portability makes it a good choice for specific use-cases. Using this soft POS application, as a business, you and your agents can accept payments via QR Codes for UPI payments. Payment links for all payment methods like Cards, UPI, Wallet, Net Banking, EMIs, buy now pay later, etc.
Why use softPOS for your business payments?
softPOS Provide the widest range of payment modes for customers. Users can do a secured and contactless payment via all payment options. softPOS has Tap & Pay option, that accepts debit and credit card payments using NFC (Near Field Communication) for contactless payments. Through the recording, feature, businesses can accept cash payments and record entries in the app for easier reconciliation. You can send Payment Links via SMS, Whatsapp, Email, or social media platforms.
Now you got how effective softPOS is for online transactions in businesses, so if you want to know more about softPOS feel free to contact imagino for payment solutions.