Axis Bank introduces “MicroPay,” based on “Pin on Mobile” technology

Together with its technical partners Ezetap by Razorpay and MyPinpad, Axis Bank has launched a ground-breaking payment solution called “MicroPay.”

One of the top private sector banks in India, Axis Bank, has collaborated with technical partners Ezetap by Razorpay and MyPinpad to launch a ground-breaking payment solution called “MicroPay.”What is MicroPay?In order to facilitate digital payments and provide a distinctive customer experience, MicroPay is a “PIN on Mobile” solution that turns a merchant’s smartphone into a Point-of-Sale (POS) terminal.

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the significance of this development is.

This solution will have a significant impact on businesses all over India, particularly retail and kirana shops in Tier 2 and 3 cities with limited working capital and a need for cost-effective payment options. Overall, MicroPay has the potential to revolutionise digital payments in India and transform small businesses…

More Information on ‘MicroPay’ and ‘Pin on Mobile’ Technology:.

Although digital Point of Sale (POS) systems are growing in popularity in India, MSMEs may be discouraged from implementing them due to the high cost of the equipment.But with the new PIN on Mobile technology, businesses can accept payments via card, UPI, and BQR code while still upholding high security standards.

Customers can enter their PIN directly on the merchant’s device using this compact, inexpensive card reader, which pairs with the merchant’s smartphone via Bluetooth. This ensures PIN security in accordance with PCI standards for Software-based PIN Entry on COTS phones.Byas Nambisan, the CEO of Ezetap by Razorpay, thinks that this technology will lower the overall cost of POS by 30% and make it simpler, safer, and more affordable to access digital payments.

The collaboration with MYPINPAD will provide Indian businesses with a PCI-certified mobile payments solution that will improve the customer experience while also providing increased security, reduced risk, and significant cost savings.