Point-of-Sale (PoS) device manufacturer Pine Labs aims to acquire 1 Mn small merchants across the country over the next year through its new payments acceptance app called ‘All Tap’. The new app will allow them to start accepting contactless card payments.
The new platform will let every Near-Field-Communication (NFC) enabled smartphone to become a card payment acceptance device mainly for contactless payments.The app will also include Pine Labs’ Buy Now Pay Later or EMI offering, allowing merchants to scale their business through micro-credit options, the company said.
“We will be the first company where debit and credit card payments can be accepted through any NFC smartphone. Here any Android phone can be used to accept payments from any NFC card whether issued on Visa, Mastercard, RuPay or American Express, in addition to UPI and QR based payments. Our aim to roll out this product to 1 million merchants in a year and 100,000 in the next month.” — Amrish Rau, chief executive officer, Pine Labs.