First Data is to roll out their mPOS solution that is set to make payment acceptance faster and secure for the Indian merchant community in partnership with Mahindra Comviva.
Th solution enables businesses, including small and medium enterprises and service professionals, to utilize their mobile phone as a POS device and drive transaction volumes by letting consumers use card-based payment instruments.
This will empower merchants to customize individual needs such as home delivery, insurance, retailing and e-tailing, radio taxis and ticketing. The associated card reader has an innovative design that connects to the smartphone via Bluetooth, is equipped with a LCD display and tactile response PIN pad for PIN entry thus making it easy to use.
It accepts a variety of card payments, including all kinds of chip and magnetic stripe cards and is fully compliant with RBI, EMV and PCI standards.
Mahindra Comviva’s payPLUS solution fulfils the need for a quick and reliable user interface that supports and simplifies POS, billing and reconciliation-related activities. The solution will also soon enable businesses to leverage location based services, to deliver promotional campaigns with offers and discounts to customers, based on their location / proximity from the business store.
“India has about 418 million credit/debit card holders as against a mere 1 million POS terminals; we expect a significant market share through our mPOS solution,” comments Srinivas Nidugondi, Senior VP and Head Mobile Financial Solutions, Mahindra Comviva.
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