HDFC fuels digitization drive; launches all-inclusive DigiPOS machines

HDFC Bank Ltd. on Tuesday unveiled its 'DigiPOS' Point of Sale (POS) machine, which will offer a complete suite of digital payment options.

The device will offer customers various digital payment options such as UPI, Bharat QR, SMS Pay and PayZapp, in addition to the facility to pay through debit or credit cards.

In the coming months, HDFC Bank will convert its entire network of over four lakh PoS machines to DigiPOS without any investment by the merchants.

The initiative integrates all popular digital payment methods in PoS machines, thus offering greater convenience to both customers and merchants. For example, using the Bharat QR or UPI option, a customer can scan the QR code and make payment using their smartphones.

Similarly, SMS Pay option on the DigiPOS can be initiated by merchants in the home delivery business to facilitate payments through SMS to customers.

As the largest acquirer in the country, HDFC Bank aims to enable all its existing merchants to accept digital payments thereby driving rapid adoption of digital transactions.

The digital payment facilitator can be used by customers of all banks using the aforementioned payment options as per their convenience, in addition to debit or credit card payment facility available on the PoS machines.

"Digital Banking means offering convenience not just for customers but also for our merchant network. Merchants no longer have to keep different devices to receive payments and our entire PoS network will be converted to DigiPOS soon. We believe Digital PoS is a significant step towards further encouraging both customers and merchants to adopt the various digital payment platforms," said Parag Rao, Country Head - Card Payment Products, Merchant Acquiring Services, and Marketing, HDFC Bank.