Airtel Payments Bank eases transactions for merchants

6 Oct
2020

Airtel Payments Bank eases transactions for merchants

By Staff Writer

Airtel Payments Bank eases transactions for merchants

Merchants associated with Airtel Payments Bank can receive payments by smartphone acting as a point-of-sale (POS) machine at zero commission charges.

Airtel, on Tuesday, upgraded the app with “Smart ePOS” and “On-Demand Settlement” features.

Merchants can select the Smart ePOS option in the Airtel NSE 0.01 % Payments app, and a QR code will appear on the mobile screen for the payments to be made. The amount will get credited immediately to the merchant bank account linked to the app.

“This eliminates the need to have a physical QR code or the need to carry an additional device to receive payments for home deliveries,” the company said.

The 'On-demand Settlement’ feature enables merchants to transfer their payments into their registered bank accounts.

Other upgrades in the app will allow merchants to easily monitor their daily earnings, check transaction statements, payment settlement history, and buy shop insurance.

The Payments Bank has close to 1.5 million merchants and aims to add over one million new merchants to its network in the coming months.

“The new solutions allow merchants to receive and settle payments through a seamless and secure digital process. This is one more step towards our aim of building a cashless economy,” said Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank.

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