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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

Question: 

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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