Merchants will now be able to accept contactless payments of up to Rs 5,000 through a simple tap and pay mechanism on his NFC-enabled mobile phones.
Customers using RuPay cardsor who have tokenised their RuPay Cards can carry out contactless payments for their regular purchases.
“The initiative is aimed at transforming the digital payments landscape and democratising access to secure and convenient modes of transaction,” said Pushpendra Sharma, Head Digital Payments and Acquiring at RBL Bank.
“We look forward to deepen our geographical penetration and multiply our customer base. We are confident that with innovations like RuPay PoS will definitely lead to the evolution of a less-cash economy in India,” he said in a statement.
RBL services over 8.76 million customers through a network of 398 branches, 1,219 business correspondent branches (of which 254 banking outlets) and 402 ATMs spread across 28 Indian states and union territories.
Anand Kumar Bajaj, Managing Director and CEO of PayNearby, said the company will build an ecosystem by adding the number of acceptance points for easy and fast digital payments.
“We look forward to empowering our retailers and consumers by blending easy-to-use digital technology with last-mile connectivity. This is how we will bridge the digital divide among the masses and create an equal Digital India,” he said.