HDFC Bank Launches All-In-One POS for MSMEs

Ahmedabad: HDFC Bank, India’s leading merchant acquiring bank, has introduced the All-In-One POS, a payment device equipped with the Soundbox feature for MSMEs. The device will enhance business operations for merchants across the country.

The All-In-One POS Device is a compact payment device that integrates point-of-sale (PoS), QR code scanner, and Soundbox, de-cluttering the cashier space. It simplifies payment acceptance by supporting every form of payment, including card dip, tap & pay, and QR scan, all with one compact device. The device also provides instant voice notifications of payments, offering reassurance to both merchants and customers. It seamlessly connects with the Bank’s SmartHub Vyapar merchant app, providing merchants with a single view of all transactions for easy reconciliation with their bank account statements.

This device represents a significant leap forward in digital payments, catering to the evolving needs of merchants in an increasingly cashless economy. With UPI and cards becoming the preferred modes of payment at offline merchants, managing high volumes of transactions and tracking payments in real-time has become crucial for businesses. The All- In-One POS device addresses this need by providing instant audio confirmations through its Soundbox feature.

Key Features of All-In -One POS

·       Instant Payment Alerts: Real-time audio notifications for every transaction.

·       Multi-Functionality: Supports card payments, UPI, and digital wallets.

·       Compact Design: Space-saving and durable, ideal for high-footfall areas.

·       Language Support: Multiple languages available to cater to diverse merchants.

·       Affordable: Cost-effective with a long-lasting battery.

“At HDFC Bank, we are committed to driving innovation that empowers our merchants. The All-In-One POS is an efficient, reliable, and user-friendly solution. This device will significantly reduce the friction in payment acceptance and management, helping our merchants focus on their core business,” said Rajanish Prabhu, Senior Executive Vice-President, HDFC Bank.

With these launches, HDFC Bank also provides access to value-added services like improving merchant discoverability, creating social media profiles and digital storefronts, seamless supplier payments, and the ability to create and promote personalised offers for better customer engagement through entities like Vyaparify, Epaylater, and Snapbiz.

The Bank also works closely with network partner Visa to support the merchant segment. Visa empowers the small and medium merchants community with its ecosystem partnerships and provides access to digital payment solutions, boosts low-cost acceptance solutions, supports growth and helps businesses unlock their full potential. This partnership with Visa is aimed at accelerating acceptance at new touchpoints and increasing digitization across a broader merchant base in the country.

Rishi Chhabra, Vice President, Head of Merchant Sales & Acquiring (MS&A), Visa India and South Asia commented, “Visa is proud to partner with HDFC Bank in our mutual endeavour to digitise millions of merchants with the All-In-One POS. With our collective strength, we are confident these innovations will revolutionse how enterprises of all sizes in India process card and contactless transactions and as Visa, we will continue to offer economically efficient solutions for merchants to embrace digital payments.”

The Bank continues to maintain its leadership position in the acceptance business, serving more than 30 lakh merchant establishments.