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RuPay SoftPoS Solution

Published on March 06, 2021
Current Context: The ‘RuPay SoftPoS’ solution was launched for millions of Indian merchants by the National Payments Corporation of India (NPCI) in partnership with SBI Payments.
RuPay SoftPoS Solution
  • This solution will offer an innovative approach to transform NFC-enabled smartphones into merchant Point of Sale (PoS) terminals for the retailers.
  • With the help of the ‘RuPay SoftPoS’ solution merchants will be able to perform contactless payments of up to Rs 5,000 through tap and pay mechanism on their mobile phones.
  • To avail of this solution, the user will have to download the app on the smartphone. Then to receive money, the user will have to select the contactless menu and enter an amount. The RuPay card can then be tapped on the merchant’s mobile for a contactless transaction.
  • Once the transaction gets approved, the receipt for the success of the transaction will be generated.
  • Static Part: 
    • HQ of NPCI: Mumbai
    • MD and CEO of NPCI: Dilip Asbe

Question: 

Q.1 Which organisation launched the ‘RuPay SoftPoS’ payment solution for merchants?
a. SBI Payments
b. National Payments Corporation of India (NPCI)
c. Axis Bank
d. Both (b) and (c) 
e. Both (a) and (b)
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