|
|
|
|
Pine Labs joins ICICI Bank to accept digital rupee on its PoS terminals
|
|
|
|
| Top Stories |
 |
|
|
|
IANS | 02 May, 2023
Merchant commerce omni-channel platform Pine Labs on Tuesday announced
the acceptance of digital rupee on its point of sale (PoS) terminals in
partnership with ICICI Bank.
To begin with, Pine Labs
will accept e-rupee across key retail outlets in Mumbai and Bengaluru
via dynamic QR, built within its smart Android PoS terminals.
"Central
bank digital currency (CBDC) and digital rupee opens up exciting
opportunities. Pine Labs is happy to partner with ICICI Bank in
launching CBDC as a payment option under this pilot run by the RBI,"
said B Amrish Rau, CEO, Pine Labs.
RBI's CBDC pilot for both
person-to-person (P2P) and person-to-merchant (P2M) digital rupee
transactions is currently live with leading banks like State Bank of
India, ICICI Bank, Yes Bank, IDFC First Bank, Union Bank of India, Bank
of Baroda, Kotak Mahindra Bank, and HDFC Bank.
The controlled retail CBDC pilot is expected to expand to more banks, users and locations, in addition to more applications.
Once
formally introduced pan India as a legal tender, digital rupee is
expected to deliver reduction in operational costs that goes into the
management of physical cash, improve financial inclusion, and deliver
resilience and efficiency in payment transactions.
"We are
delighted to partner with Pine Labs to make Digital Rupee an accepted
payment mode at their merchant PoS terminals. This would present a
seamless payment option to the users and improve the operational
efficiency of merchants with Pine Labs PoS terminals," said Bijith
Bhaskar, Head-Digital Channels and Partnerships, ICICI Bank.
Incorporated in Singapore, the key investors of Pine Labs include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
|
|
| Daily Poll |
 |
 |
| Do you think Indian businesses will be negatively affected by Trump's America First Policy? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
