Currently, 35 lakh merchants including organised retailers, hospitals, and other stores use the facility for their businesses. The number of offline merchants in November was close to 1 lakh and the company had hired 10,000 field-force to ramp up the number of offline users post `demonetisation.'
The company is touting its QR code payment system as an alternative to Point-of-Sale (PoS) machines which are expensive and take longer timelines to deliver.
The number of PoS machines across the country in October 2016 is estimated to be over 15 lakh according to RBI data.
QR code-based payment is linked to the verification documents and KYC collected for each business. Hence an individual running multiple businesses can track the transaction for each business, avoiding duplicity, according to the company.
The Paypers. All rights reserved. No part of this site can be reproduced
without explicit permission of The Paypers(V2.3).