Zoho Payments Plans Physical POS Devices and Sound Boxes
Why in the news
Zoho’s payments arm moved into hardware to widen its role in payments and fintech.
Key facts
- Zoho Payments is the fintech subsidiary of Zoho, a Chennai-based SaaS firm.
- Products: POS terminals and sound boxes for credit/debit card and QR payments.
Concepts
- Fintech: technology used to improve, automate and simplify financial services; examples are UPI, PhonePe, Google Pay and Paytm.
- POS device: merchant machine for cards, UPI or wallets in place of cash.
- POS features: instant processing, receipts, inventory and billing links, data records, connectivity via internet, Wi-Fi or SIM.
Exam angle
- POS = Point of Sale; the new range includes sound boxes.