30 June 2021
The Weekly

Shoppers Stop and Innoviti Payment Solutions announced a pioneering concept of Dual-Display-UPI that makes it safer and faster for consumers to pay through UPI while shopping at Shoppers Stop outlets. Payments through UPI in multi-lane retail have been slow to take off with less than 4 % penetration, as static QRs are hard to reconcile in modern trade and open to amount entry errors by consumers. They also delay checkout due to time taken by consumers to enter the amount, and time taken by the cashier to validate approval. Dual-Display-UPI addresses this by using advanced technology to create a Dynamic QR that carries the payment amount, merchant credentials, and a secure transaction token. The Dynamic QR is presented on a large display facing the consumer at the checkout. It also displays any offers that may be running on UPI payments for that transaction. A consumer can scan this QR while the cashier is packing goods. The offer if applicable is automatically applied, with the secure transaction token automatically reconciling the bill straight-through reconciliation.  The customer receives the acknowledgment on the display, along with details of the offer applied. Parallelizing the customer payment and cashier packing cut, the transaction time of a typical UPI transaction from about 20 seconds to 10 seconds. The entire experience is touchless with neither the cashier nor customer having to touch the display, minimizing contact surface and interaction time between them.