Betting on the big push for Digital India, PhonePe today launched a low cost and indigenously designed Point of Sale (POS) device, powered by Bluetooth technology.
Resembling a calculator, the device is quite helpful for a wide range of traders starting from small retailers to petrol pumps and food chains, claim its promoters.
"The cost of our product is just Rs 699 whereas the regular POS costs Rs 5,000.
The first lot we manufactured abroad but now we are looking for the local partners.
By year end we will be manufacturing it in India somewhere in either Hyderabad or Bengaluru," said Sameer Nigam, chief executive officer of PhonePe.
Nigam said the entire device has been designed in India right from soldering to the chip.
"It is a 100 per cent Made in India product, designed and developed in India and for India. It is very cheap, easy to use and highly durable. It can run for 8 to 12 months on AA batteries," he said.
The start-up claims that the device makes transaction easier for its customers.
All they need to do is bring their phone close to the POS device and it automatically shows the merchant details and amount to be paid.
The merchant does not need internet to be able to confirm that a transaction was successful.
Nigam said the device is portable and has no scope for misuse.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)