What if you can make a transaction using no internet connection at all? PhonePe Fin-Tech Company based in Karnataka, India, launched a device that looks like a calculator but has exceptional potential. The newly launched Smart POS (Point of Sale) device can support a transaction without the need of an internet service.Interestingly, the device which will be given to Indian merchants for free of cost uses the latest technology that require no internet connections to make payments.
The new device will instead use Bluetooth connections to make transactions. For the device to work, a merchant requires a smartphone with the PhonePe app installed in it. The transactions are secure and will require no third party hardware or software for a transaction to succeed. The physical keys on the calculator-like device will be used to enter transaction amount and will record it by hitting giant PhonePe button.
On recording a transition, the customer would need to bring their phone close to the device to support wireless connection. Next, the transaction details will appear on the PhonePe app that is then verified and completed using the mode selected.
In a press statement, CTO of PhonePe Rahul Chari was quoted saying, “the use of Bluetooth as the underlying technology makes the protocol used for the transaction robust and widely compatible. The solution provides several layers of security to ensure merchant and customer transaction safety”
The POS device runs on AA batteries that power the device for 8-12 months. All the mobile devices that have PhonePe App can take advantage of the new transaction mode. Started in 2015, the PhonePe app has received more than 50 million installs worldwide. First, the PhonePe will distribute the POS devices in Bengaluru, followed by its distribution all over India.
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