Paytm launches pocket Android POS device for SMEs, to invest Rs 100 Cr for promotion
Paytm launched a pocket Android POS in order to help SMEs with contactless ordering and payments. This move came in around six months after the launch of the standard Android POS device, with similar features in February this year.
In a statement, the company said that the device is "featherweight" with a weight of 163 grams, 12 mm thick, and a 4.5-inch touch screen. Paytm has announced that it will be investing Rs 100 crore on distribution and marketing in FY21 to promote these devices.
It is looking to issue more than two lakh devices by the end of 2020, with an aim to generate more than 20 million transactions per month.
“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,” claims the company.
Introduced at a monthly rental of Rs 499, the device is as sleek as a mobile phone. It is embedded with an all-day battery life; 4G sim card, Wi-Fi, Bluetooth connectivity; camera for QR scanning, and billing software.
It also comes bundled with contactless ordering software for SMEs, restaurants, and takeaway joints. The device will also help delivery personnel logistic players, kirana stores, and small shopkeepers accept digital payments on the go.
The POS device is also integrated with the ‘Paytm for Business’ app to generate GST compliant bills and manage all transactions and settlements.
"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. Our Paytm for Business app, Khata, and payout services are providing the much-needed digitisation support to businesses to improve their efficiency and supporting them to join the Digital India mission," said Renu Satti, Sr. Vice President at Paytm.
The earlier version of Paytm Android POS device has already been piloted across 1,50,000 merchants across different sectors. The company claimed to have witnessed over 20 million downloads for the Paytm for Business App while Paytm Payout processed payments worth Rs 1,500 crore.
Edited by Saheli Sen Gupta