Pine Labs launches Paper POS, a merged QR product to accept payments via UPI and Bharat QR apps

New Delhi, January 29, 2020: Pine Labs, one of Asia’s leading merchant commerce platforms, today announced the launch of Pine Labs Paper POS for its merchants. Pine Labs Paper POS is an all-in-one solution for accepting multiple forms of Unified Payments Interface (UPI) and Bharat QR payments through a single merged static QR at the point of sale.  Merchants can use Pine Labs Paper POS to accept payments across different kinds of UPI and Bharat QR payments, including those from Amazon Pay, Google Pay, PayZapp, PhonePe, YONO, among others. Using the Pine Labs countertop POS machines – Plutus and Plutus Smart - merchants can print a customer charge slip, thus, immediately confirming the transaction.

“We, at Pine Labs, are constantly striving to develop innovative technology solutions to cater to the requirements of our diverse merchant base and their customers. Paper POS is our latest innovation and will accelerate the growth of electronic payments acceptance in the country. It will not only be a one-stop solution for acceptance of all payments through UPI and Bharat QR, it will also save transaction cost,” said Venkat Paruchuri, Chief Product Officer, Pine Labs.

Paper POS is low-cost, easy to implement and ensures safe payment transactions. It is simple to install and helps merchants to declutter the billing counter as well as contain long customer queues. Paper POS also offers a range of other benefits to the merchants like detailed insights on the transactions as well as reconciliation of all transactions, including Paper POS transactions at one place on myPlutus web (TRM) or on the myPlutus app. The merchants can also receive instant notifications for transactions on the myPlutus app. The Paper POS sticker can also be customized with the merchant name / store name and the merchant logo on the QR sticker.

The steps for accepting payments using Paper POS are simple. To begin with, the customer scans the QR on Pine Labs Paper POS using any UPI / Bharat QR app. The customer will then enter the amount on his app. In the third step, the customer will enter UPI/ Bharat QR credentials on the app to authorise the transaction. Upon successful confirmation, the merchants with Pine Labs POS terminals can print the charge slip for Paper POS transactions.

About Pine Labs

Pine Labs is one of Asia’s leading merchant commerce platforms. Its unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions. Its stored value platform includes issuing, processing and distributing digital gift cards for corporate customers. Its customer base includes prominent large, mid-sized and small merchants across India, South East Asia and the Middle East. Pine Labs is incorporated in Singapore. Pine Labs’ key investors include Sequoia India, Actis Capital, Temasek, PayPal and Sofina. To know more, please visit www.pinelabs.com