Pine Labs plans to deploy 1.5 lakh Android POS devices by next fiscal
Fintech platform Pine Labs is confident of expanding the base of its Android POS machines to 1.5 lakh by the next fiscal, as it deploys these new machines across industries like hospitality, retail, healthcare, and automobile.
The company, which had launched Plutus Smart (its Android-based point of sale machines) about nine months ago, has already deployed over 50,000 of these POS terminals.
"Merchants across large, medium, and small enterprises have chosen Plutus Smart as their preferred mode of payment acceptance. Apart from just accepting multiple modes of payment, it allows merchants access to a plethora of features like bill generation, inventory management, etc.," Pine Labs Chief Business Officer Kush Mehra said.
The company plans to considerably scale up its Android POS network in 2020-21 to 1.5 lakh machines and diversify into newer industries. POS machines are used by merchants to accept payments through cards among other features, he added.
Some of its customers of Android POS include merchants across industries like hospitality, apparel and lifestyle, entertainment, and healthcare. Organisations like Cinepolis India, Flipkart, Vijay Sales, Lenskart, Air Asia India, and Miniso are among its customers.
"Additionally, multiple State Traffic Police departments have signed up to empower their personnel with the latest Android-based Plutus Smart terminals. We are working on onboarding customers from newer verticals like automobile dealers and educational institutions as well," he said.
Plutus Smart can accept payments across multiple payment modes including debit/credit cards, UPI, mobile wallets, QR codes, loyalty cards, among others. It also has an in-built barcode scanner and helps customers to compare EMI offers across banks on the POS.
"We have built an extensive network of banks and brands to offer EMI-led purchase option on its POS terminals. It also helps merchants gain intelligent and real-time business insights and capture customer feedback," Mehra added.
Pine Labs has built a portfolio of over 25 third-party billing apps developed using its open APIs since July 2019. These apps help merchants with inventory management, easy option for splitting payment across multiple payment modes, returns management, online ordering feature, and creating GST bills in the recommended GST format, among other features.
(Edited by Suman Singh)