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NPCI & SBI Payments partner to launch RuPay SoftPoS
NEW DELHI: National Payments Corporation of India (NPCI) has partnered with SBI Payments to announce the launch of RuPay SoftPoS for millions of Indian merchants. This innovative solution has the capability to transform NFC enabled smartphones into merchant point of sale (PoS) terminals for the retailers. Merchants will now be able to accept contactless payments of up to Rs 5,000 through a simple tap and pay mechanism on their smartphones.
RuPay SoftPoS will provide cost effective acceptance infrastructure to retailers at nominal cost. This unique phenomenon would be able to proliferate digital payment acceptance among millions of underserved Indian MSMEs. Merchants can convert their existing android smartphone devices into a payment terminal by simply downloading a supported app. This solution will revolutionise the way micro and small merchants receive payments and create a demarcated shift in their tendency to deal in cash to accepting secure, contactless digital payments instead.
The RuPay SoftPoS is convenient and creates a superior transaction experience. Once the contactless menu is chosen, an appropriate amount is entered (< Rs 5000). The RuPay card can then be tapped on the merchant’s mobile making these transactions instantaneously. As soon as the transaction is approved, the receipt of successful transaction is generated real time. This facility can be used on NCMC cards and RuPay tokenised card on mobile/ wearable to make payments in a secure and time efficient manner. The RuPay SoftPoS solution benefits the merchants and customers alike – it creates a smart and user-friendly acceptance infrastructure for merchants; whereas encourages the customers to make secure, contactless payments.
Giri Kumar Nair, MD & CEO SBI Payments said, “SBI Payments is working closely with NPCI to support the government’s Digital India initiative enabling small and medium merchants in semi urban and rural centres. We are also enabling NCMC cards on our terminals to improve consumer experience and the RBI announcement allowing up to Rs 5000 transaction through tap and go facility has further enhanced our ability to reach out to a wider number of merchant categories. There is also a special focus on north-eastern states onboarding merchants on asset light model enabling QR and tap on phone form factors.
NPCI COO Praveena Rai said, “We are delighted to partner with SBI to launch the RuPay SoftPoS solution aimed at creating an innovative payment solution for Indian MSMEs which forms the backbone of our economy. It is our endeavour to ensure that merchants from various geographies of the nation are onboarded into the ecosystem in order to deepen the penetration of digital acceptance infrastructure in the country. It is our belief that this is a step in the right direction of financial inclusivity as RuPay SoftPoS can provide an impetus to the digital on-boarding of merchants across the length and breadth of the country."
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Piyush Thakur steps down as Inshorts’ chief revenue officer
Former vice president and cro says exit marks a new chapter after close to a decade of building revenue and partnerships at Inshorts Group.
NOIDA: Piyush Thakur has stepped away from Inshorts Group after nearly 10 years with the company, marking the end of a long tenure that culminated in his role as chief revenue officer.
In a farewell note, Thakur said he was “turning a new page” after almost a decade at Inshorts, calling it one of the hardest professional decisions he has made. He added that his exit was not driven by uncertainty about the future, but by reflection on a long association with the company.
Thakur joined Inshorts in October 2016 as vice president and spent around seven years in the role before being elevated to chief revenue officer in April 2024, a position he held until April 2026.
He said his tenure was defined by “thousands of mornings, late nights, product debates and breakthrough moments”, as the company evolved into a large-scale digital news platform used by millions.
In his note, Thakur emphasised that Inshorts’ growth was a collective effort across teams, adding that engineers, designers, sales teams and customer support staff all contributed to building the platform. He said the company’s success was not the result of individuals but of “everyone who stayed, passed through, and left their mark”.
Before Inshorts, Thakur worked across several digital media and business development roles. At ESPN, he served as senior regional manager from October 2015 to October 2016, focusing on growth initiatives, strategic opportunities and video distribution.
At Times Internet, he worked for nearly three years, including as head of business development from April 2015 to September 2015 and chief manager from January 2013 to March 2015. His responsibilities included monetisation of mobile platforms, managing media and developer partnerships, and driving revenue across digital properties such as The Times of India and The Economic Times.
Earlier, he worked at Brandmovers as head of business development from June 2012 to June 2013, handling digital, mobile and social media marketing solutions, client development and strategic consulting. During this period, he also worked on advertising revenue, brand strategy and CRM-based solutions.
At Inshorts, Thakur’s role focused on revenue strategy, mobile and media partnerships, and growth initiatives across platforms. His profile highlights experience in mobile product management, digital business models, partner ecosystems and revenue expansion in high-growth environments.
