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‘RuPay PoS’—By RuPay and RBL Bank

Published on January 03, 2021
Current Context: The National Payments Corporation of India (NPCI) announced that RuPay has partnered with RBL Bank to launch ‘RuPay PoS’ in association with PayNearby. 
‘RuPay PoS’—By RuPay and RBL Bank
  • The ‘RuPay PoS’ is an innovative payment solution for Indian merchants.
  • It will help to convert smartphones into merchant Point of Sale (PoS) terminals for the retailers.
  • With the help of this innovative solution, merchants will be able to accept contactless payments of up to Rs 5000 through a simple tap and pay mechanism on his NFC enabled mobile phones.
  • This ‘RuPay PoS’ payment solution does not require additional cost hence it is termed to be cost effective acceptance solution to retailers. 
  • To utilize this solution in order to have the transformation of smartphones to payment accepting terminal, the user has to update the PayNearby App.
  • Also as a pilot process, the ‘RuPay PoS’ solution can accept offline transactions of RuPay NCMC (National Common Mobility Card) of Rs 200 and below. 
  • Static Part: 
    • HQ of NPCI, RBL Bank and Nearby technologies: Mumbai
    • Tagline of RBL Bank: Aapno ka Bank
    • MD and CEO of RBL Bank: Vishwavir Ahuja


Q.1 In partnership with whom RuPay has launched ‘RuPay PoS’, an innovative payment solution for Indian merchants?
a. HDFC Bank
b. Karnataka Bank
c. IndusInd Bank
d. RBL Bank
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