PAYNEAR, the first mPos solution provider company in INDIA to launch UPI on mPos through Axis Bank.

Hyderabad, 2​2​ December, 2016: Paynear, one of India’s leading digital payments platform today announced  that Paynear is the only company to give an Omni-Channel cashless solutions under one umbrella.

PAYNEAR, the first mPos solution provider company in INDIA to launch UPI on mPos through Axis Bank.

Paynearis the first mPos solution provider company in India to launch National Payments Corporation of India’s (NPCI’s) unified payment interface (UPI) on mPos.  UPI will not only make transactions easier but also facilitate micro-payments and person-to-person payments.

Customers would be able to instantaneously transfer money across different banks using a single identifier which will work as a virtual address and remove the need to exchange sensitive information such as bank account numbers.

With this addition, all the 15000+ merchants of paynear would be enabled with UPI, facilitating them to accept this payment option.

In a statement, Paynear Managing Director Mr Prabhu R said, “Paynear is the first MPOS Service Provider in India to launch UPI as a payment option to all its existing and new merchants.This enables all the merchants signed with Paynear to seamlessly accept UPI Transactions thus giving convenience to their customers to pay in a secure simple manner. Given the fact that UPI is going to be the next big revolution in Indian Fintech Space, Paynear is delighted to bring UPI to all its Merchants and Paynear will take all efforts not only in enabling UPI as an option but also in educating the merchants on how to accept Payments thru UPI which enables in higher adoption.​  

Mr. A. P. Hota, MD & CEO, NPCI said, “We congratulate Paynear to have brought out an innovative solution facilitating last mile issues.”

About Paynear 

Having established in 2013, Paynear is one of the few FinTechStartups in helping India to drive towards cashless economy. With an experience of deploying more than 10,000+ devices in 150+ cities and towns, Paynear is equipped to meet the emerging needs of card & digital payments landscape with its fully compliant and cutting-edge payment solutions.

Paynear believes that accepting card payments should not be complicated requiring high-cost infrastructure. The Company provides a simple and affordable solution for businesses of all sizes - from an Individual to Multi-million dollar enterprise to accept hassle free card payments.