Pine Labs, an Indian digital payments provider, has launched a new app that can allow an NFC-enabled smartphone to begin accepting digital payments in the country.

The new AllTap app is expected to speed up the adoption of digital payments in the country. With the app, small merchants can start accepting digital payments, without the need for any additional hardware.

The app includes ‘tap and pay’ feature is certified by PCI Security Standards Council (PCI SSC), RuPay, Visa, Mastercard and Amex.

Though the Covid-19 pandemic sped up the adoption of digital payments in the country, yet even now a large segment of small businesses have not adopted digitisation, noted Pine Labs.

The new app from Pine Labs aims to address this segment comprising small merchants, home entrepreneurs, street vendors, hawkers, cab drivers and others who do not want to invest in a traditional point-of-sale (PoS) terminal to accept digital payments.

Pine Labs CEO Amrish Rau said: “We heard from small merchants, taxi drivers, self-employed individuals, tuition-givers, and several other solopreneurs, who wanted a simple digital payments acceptance solution. We are proud to unveil AllTap in response to their needs. AllTap comes with a cutting-edge contactless payments technology and requires no additional hardware for merchants to start accepting digital payments.

“Their NFC-enabled smartphone is now a payments acceptance device. Pine Labs AllTap has tremendous potential to bridge the digital divide not only in India but also in other markets. We are excited to introduce this pioneering app in the market today.”

The AllTap app not only converts a smartphone into a payments-accepting device, but it also offers several other features including converting a transaction into Pay Later EMIs.

It also aims to address some pain points of merchants by allowing them to switch to contactless payments, accept digital payments during door-step delivery, use quick tap-and-go payments to reduce checkout times.

The app is powered by Pine Labs’ payment infrastructure that is already used by more than 150,000 merchants.

Pine Labs chief technology officer Sanjeev Kumar said: “With AllTap, we are offering merchants a robust PCI SSC-compliant Contactless Payments on COTS (CPoC) solution. This ensures all tap and pay transactions are fully secure.

“Our PCI SSC-CPoC listing underwent an extensive audit and certification from PCI SSC and leading networks Visa, RuPay, Mastercard, and Amex.”

In December last year, Pine Labs joined forces with Mastercard to expand its buy-now-pay-later (BNPL) offerings in new Southeast Asian markets.

The Indian firm plans to launch its products in Thailand and the Philippines in February this year and will enter Vietnam, Singapore, and Indonesia markets soon thereafter.