Razorpay POS, the offline payments arm of the fintech major, has launched ‘Q-Zap’, a payment solution for retailers designed to facilitate faster checkouts and zero queues. According to Razorpay POS, they aim to reduce billing time by 40 percent and help retailers save up to 20 percent in annual operating costs.
According to the company, self-checkout kiosks or hand-held POS devices with the Q-Zap solution allow customers to complete payments anywhere in the store, avoiding long lines. Q-Zap offers plug-and-play integration with over 120 billing partners, enabling solution implementation within four days, compared with the industry standard of four weeks.
This helps streamline billing, payment collection, and the reconciliation of goods sold against payments received. Q-Zap also supports all payment methods, including UPI, credit, and debit cards, across major networks like Visa and Mastercard.
Rahul Kothari, Chief Operating Officer, Razorpay, said, “Q-Zap, our queue-busting solution, aims to not only eliminate tedious checkout lines for customers but also to free up in-store staff’s time so they can be available to customers and provide them assistance, which could include answering questions or facilitating customer checkout. With the market poised for exponential growth, achieving the ambitious $2 trillion target by 2033 requires robust infrastructure.”
With the acquisition of Ezetap (now Razorpay POS) in August 2022, Razorpay has evolved into an omnichannel payment platform for online and offline businesses. Razorpay POS offers various devices, including mPOS, Dynamic Soundbox, Android Smart POS, POS Mini, and Pin-on-Mobile. Additionally, it recently introduced instant refunds for failed UPI transactions within 2 minutes.
(Inputs from BL intern Vidushi Nautiyal)