Pine Labs unveils single merged QR product for e-payments

Leading merchant commerce platform Pine Labs on Thursday announced Paper POS for merchants an all-in-one solution to accept accepting multiple Unified Payments Interface (UPI) and Bharat QR payments through a single merged static QR at the point of sale.

Merchants can use 'Paper POS' to accept payments across different kinds of UPI and Bharat QR payments, including 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, the company said in a statement.

"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 will offer 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, said the company.

This is how it will work for the consumers.

Scan the QR on Pine Labs Paper POS using any UPI/Bharat QR app.

The customer will then enter the amount on his app, and 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.

( With inputs from IANS )