India-based HDFC Bank and Innoviti Payment Solutions have partnered to extend the bank’s DigiPOS suite of services across Innoviti POS terminals.
The collaboration is expected to enable the payments company’s retail merchants to seamlessly process UPI and Bharat QR transactions on their existing POS infrastructure. Retailers are offered a convenient one-stop solution to comply with regulatory mandates on the provision of UPI and BharatQR acceptance by businesses exceeding a turnover of ~USD 7 million in the country.
Innoviti will parallelly merge its existing mobile number entry-based GooglePay UPI-app acceptance solution currently running in offline retail, with the HDFC Bank DigiPOS interface. With the enablement of the interface, merchants will be able to use the Innoviti POS terminals to offer customers payment options of UPI and BharatQR payments via mobile phone-based front end UPI-apps such as GPay, PhonePe, PayTM, Payzapp etc.
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