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Yes Bank introduces SMS Pay functionality on POS machines

Yes Bank has launched the SMS Pay functionality on POS terminals in partnership with Worldline. This enables merchants to accept contactless and remote payments from their customers. SMS Pay is a step towards facilitating merchants to accept remote payments on their POS machines and enabling their customers to transact safely from the comfort of their homes. It is also in line with the bank’s commitment to support small and medium businesses in restarting their businesses while providing safety to their customers. Yes, Bank said through this, a safe and simple platform is created for shopkeepers and merchants including local kirana stores and departmental stores enabling them to request payments against invoices by simply entering amount and customer contact details on their POS machines. Instantly an SMS is triggered to the customer’s mobile number with a payment link, allowing them to pay securely through their domestic debit and credit cards. Rajnish Prabhu, Business Head – Credit Cards and Merchant Acquisition at Yes Bank, said SMS Pay is a simple yet convenient value addition to the bank’s merchant POS solutions and provides an alternative channel of payment acceptance for our merchants at zero incremental cost.

SMS Pay will help in boosting business by providing merchants the dual benefit of enabling them to serve outside their vicinity as payments can be made remotely as well as providing safety and convenience to their customers, he added. Deepak Chandnani, Managing Director, Worldline South Asia, and the Middle East, said his company is in the process of innovating and enhancing the functionalities of all its acquiring solutions including POS terminals in order to provide convenient, frictionless, and secure solutions for merchants as well as customers. Yes Bank’s POS terminals have an SMS Pay option displayed in the terminal menu and upon selecting it, the terminal prompts the merchant to enter the customer’s mobile number and sale amount. The customer receives a URL for making payment via SMS and he completes the payment remotely via the internet payment gateway page through his or her preferred mode of payment (domestic credit or debit card). Once the payment is complete, a charge slip is generated from the POS machine and the merchant can deliver goods or services.

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