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<ul><li>Silicon Valley-based Poynt is looking to launch its device in India this year. </li><li>The process for permissions and certification is underway, Bedier told Business Insider in an exclusive interview. </li><li>42-year old Osama Bedier’s $450 million startup is backed by Matrix Partners and Google Ventures among other marquee investors. </li></ul>Osama Bedier, who created <keyword id="659753" type="ORGANIZATION" weightage="20" keywordseo="Google-Wallet">Google Wallet</keyword>, set up his payments startup, Poynt, four years ago. In 2019, India will be the first Asian country where Poynt rolls out its payments product that Bedier likes to describe as the ‘Android’ for digital payments. Doesn’t India have enough players into digital payments already? The 42-year old Bedier-- also a Paypal veteran-- told Business Insider, in an exclusive interview, that he is not targeting consumers. Therefore, not looking to compete with Mukesh Ambani’s Reliance Jio or Alibaba-backed Paytm or even credit/debit cards. Poynt will target merchants, shopkeepers and small businesses. It will sell an operating system and a smart device that will enable merchants to accept any form of digital payment, from any service provider. Here’s an demonstration of how Poynt’s smart terminal works - 
 <div type="Youtube" id="mwsvqYdOuuI" title="Poynt Smart Terminal Demo" thumbUrl="https://i.ytimg.com/vi/mwsvqYdOuuI/mqdefault.jpg"></div>
 So is Poynt looking to sell another expensive device? Merchants will have to buy a device. But, the primary focus of this $450 million startup from Silicon Valley will be to sell an operating system that will allow merchants to accept any form of digital payment without the hassle of having to use different devices for different customers with different payment preferences. That’s not all. Bedier sees the device as one that can be a mix of a cash register, a point of sale terminal, and an accounting software. The merchant has a choice to have as many features as required for the business, and these applications can be created by third parties too. Poynt is looking to launch its product in India this year. The startup is backed by Elavon, Google Ventures, Matrix Partners, National Australia Bank, NYCA Partners, Oak HC/FT Partners, Stanford-StartX Fund, Webb Investment Network. Most recently, the company <a href="https://www.businessinsider.com/poynt-series-c-funding-2018-11">raised</a> $100 million in November 2018. Why will India’s penny-wise shopkeepers invest in some expensive operating system and a device? Bedier’s biggest challenge will be to convince the merchants that this will boost their sales, and he seems prepared for that. “It can’t be a $600 iPad. It’s got to be a cheaper $100-$200 device maximum. Probably, cheap enough to subsidise or to even rent at a very low cost. It’s very important that it’s accessible to merchants of all sizes. Then, the software revenue model is what makes it viable,” he explained. According to Bedier, “the India issue right now is that they are not very well coordinated. PayTM is pulling in one direction, cards are pulling them in another direction, the UPI (Unified Payment Interface owned by the government) is pulling them in a third direction. Enabling all of them to coexist in a single device makes them compatible.” No matter which service provider the consumer prefers, Poynt’s device can accept them all. A technology that makes it easier for merchants to accept digital payments is certainly what India needs to increase digital transactions. Over <a href="https://www.businessinsider.in/shops-in-india-still-prefer-cash-over-digital-payments/articleshow/68089374.cms">half of all shops</a> in Indian cities do not accept any form of digital payments due to a number of challenges faced by the shop owners. Even <a href="https://www.medianama.com/2018/09/223-google-pay-india-25m-maus/">Google Pay</a>, which has 25 million monthly active users in India, has only 1.2 million businesses on the platform. In this challenge, Bedier saw an opportunity. India will be the seventh country, and the first one in Asia, where Poynt will sell its product. It is already a player in US, Canada, UK, Brazil, Ireland, and Italy. How will the Indian small business owner respond to Bedier’s proposition? That is a question that will be answered later this year and next.

The creator of Google Wallet is making a big bet on India via his 4-year old startup

<keyword id="270252" type="COMPANY" weightage="20" keywordseo="GoDaddy">GoDaddy</keyword> has signed a pact to acquire California-based payments processor <keyword id="1034238" type="COMPANY" weightage="20" keywordseo="Poynt">Poynt</keyword> in a $365 million deal which includes $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years. The acquisition will help the Internet names and registrations management major to expand commerce services with integrated payments. The transaction is expected to close in the first quarter of 2021, GoDaddy said on Tuesday. "Commerce is critical to our customers and we continue to invest in building seamlessly intuitive experiences that enable small businesses to sell everywhere," GoDaddy CEO Aman Bhutani, said in a statement. "Poynt accelerates our strategy to provide a complete suite of commerce and payment services to address this critical customer need and focus on a large addressable market opportunity." The announcement comes at a time when rapid convergence of online and in-person consumer shopping is accelerating the need for small businesses to provide connected commerce experiences across all channels for their customers. Integrating Poynt with GoDaddy's websites, marketing and WordPress commerce services will enable small businesses to boost sales and customer satisfaction by bridging both online and offline shopping experiences, the company said. With global distribution via reseller partnerships, Poynt is used by more than 100,000 merchants with over $16 billion in annual Gross Merchandise Volume (GMV). It offers a suite of products needed for small businesses to sell and accept payments anywhere -- spanning point-of-sale (POS) systems, payments, invoicing, loyalty and rewards programmes, and transaction management. "Our team is super excited to join forces and help millions of GoDaddy entrepreneurs sell everywhere, in the most seamless experience possible, at a time they couldn't need it more," said Poynt CEO <keyword id="225346" type="PERSON" weightage="20" keywordseo="Osama-Bedier">Osama Bedier</keyword>. The Poynt CEO will join the GoDaddy leadership team and lead a new commerce division.

The creator of Google wallet just sold his startup for $365 million to GoDaddy

<ul><li>Point-of-Sale startup <keyword id="1745661" type="PERSON" weightage="20" keywordseo="Mswipe">Mswipe</keyword> has raised $30 million and now plans to acquire 1.5 million merchants by 2020. </li><li>The Indian PoS market has been fast-growing with even the likes of Amazon, Google expanding to offline markets. </li><li>The focus now is on building technology-driven devices or apps that will make way for <keyword id="7488649" type="UNKNOWN" weightage="20" keywordseo="smart-billing">smart billing</keyword> systems.</li><li><keyword id="1034238" type="COMPANY" weightage="20" keywordseo="Poynt">Poynt</keyword>, a smart terminal which has been founded by the creator of Google Wallet <keyword id="225346" type="PERSON" weightage="20" keywordseo="Osama-Bedier">Osama Bedier</keyword>, too is looking to enter India.</li></ul>The Indian government has set ambitious goals for the country to become a cashless economy. And pushing forward this digitisation are point-of-sale terminals or portable billing machines. Now, PoS startup Mswipe, has raised $30 million in a series E round with plans to sign up 1.5 million merchants by FY 2020. Mumbai-based Mswipe, which raked in ₹1.42 billion in revenue post demonetisation in the year 2016-17, has been possibly one of the biggest beneficiaries of the note ban apart from Paytm. The cost of a Mswipe machine starts at ₹1,500. The 7-year-old startup also appears to be gearing up for competition. Be it the Indian competitor Payswifff or US-based Poynt. Poynt – a smart terminal which is the brainchild of Osama Bedier, the creator of Google Wallet – is also looking at India as an ideal market. Poynt, as Bedier likes to call as the ‘Android’ for digital payments. But the focus now has to be on technology. Mswipe is developing its technology with the introduction of WisePoS, a smart billing machine that will enable retailers to run multiple applications on them including billing, inventory management and supply chain along with integrated payments. It is also currently piloting the MoneyStore, an app store for payment productivity apps. “Tech powered products will add significant value to merchants including an app-based ecosystem to help our merchant partners beyond payments. We are big believers in offering merchants access to a merchant-friendly cost-effective open ecosystem,” said <keyword id="182064" type="PERSON" weightage="20" keywordseo="Manish-Patel">Manish Patel</keyword>, founder and CEO, Mswipe. Meanwhile, Poynt offers an open operating system that can power any smart payment terminal worldwide. “300 million smart payment devices will exist in the next five years. 50 million of those will be in India. These devices will be responsible for at least half of the world’s commerce. If these devices are changed to computing devices, the software that runs on those that will be a trillion dollar business. In an app store model, where you take 10 or 20% just to distribute that, that itself is a $200 billion business,” Bedier told Business Insider in <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">an earlier interview</a>. This market opportunity is not missed by the big players – Amazon, Google – who are all rushing to have a pie of the offline payments market. It’s India’s bullish move to be a cashless economy that has empowered the presence of these PoS terminals. According to RBI report from January 2019, PoS terminals from banks alone go up to over 36 lakhs in India. See Also: <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">The creator of Google Wallet is making a big bet on India via his 4-year old startup</a>

A lot of money is flowing into making 'smart' billing machines in India

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Osama Bedier" title_caption="Osama Bedier " class="zoomin" href="https://static-ssl.businessinsider.com/image/54506ae469bedd5025cf5b8f-960/osama-bedier.jpg"></a>Osama BedierOsama Bedier </div></div></div>Osama Bedier is a payments veteran. 
He worked at PayPal for eight years before joining Google as its VP of Google Wallet in 2011. 
He left last year because he had spent the last half decade thinking about "how commerce infrastructure is broken." 
Today, he's releasing a product that he thinks will help give in-store payments an update. 
Poynt is a smart terminal for small to medium-sized businesses that Bedier says takes Square's white dongle card-reader to the next level:
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div> 
Poynt is a wirelessly-connected, open-platform payments terminal that works with existing registers. The device has enough technology baked in to accept any kind of payment and, because it runs a forked version of Android, merchants will also be able to download apps from developers covering things like inventory management or data analysis.
Bedier says the time is perfect for his company's new payments option: By October 2015, all merchants will have to switch to <a href="http://www.businessinsider.com/the-switch-to-emv-payment-cards-is-a-big-opportunity-for-payment-tech-companies-2014-6" target="_blank">payments terminals compatible with EMV cards</a> (which use chip-based - instead of swipe - authentication).
Bedier describes Poynt as a "no-risk no-brainer" for merchants because it works with all payment types. Traditional swipe cards, NFC like Apple Pay or Google Wallet, Bluetooth, beacons, QR codes, or EMV chip and pin cards: No extra hardware required."It's future-proof," he told Business Insider. 
The Poynt Smart Terminal is available for pre-order at $299 and will begin shipping to merchants in early 2015. The company has already partnered with two major banks, though Bedier declined to say which, that will sell the Poynt smart terminal directly to merchants.

Why This Google Wallet And PayPal Vet Thinks His New Product Will Be A 'No Brainer' For Businesses 

<ul><li><keyword id="1552189" type="PERSON" weightage="20" keywordseo="Pine-Labs">Pine Labs</keyword> android <keyword id="4468868" type="PERSON" weightage="20" keywordseo="PoS-device">PoS device</keyword> already has 50,000 touch points across 100 cities. </li><li>In an interview with Business Insider, Kush Mehra, chief business officer, Pine Labs talks about why the company is not worried about competition. </li><li>The PoS market is heating up in India with players like <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, Mswipe among others.</li></ul>Merchants payments platform Pine Labs, which sells point-of-sale terminals, knows the segment is getting crowded – after Paytm brought its own Android PoS. Yet, it's not worried. Last year, after rigorous development and efforts, Pine Labs launched their Android PoS device, which is already present in 50,000 touch points across 100 cities. Re-engineering the offline payment market “This is probably after a very long time that a product has come in the market and has become transformational in the point-of-sale offline market,” Kush Mehra, chief business officer, Pine Labs told Business Insider. Pine Labs has been in the merchants payment business since 1998. In that market, the company currently has a wide user base of 150,000 unique merchants which translates to 460,000 touch points. But they also saw a design gap in the market – PoS was still backed on traditional devices which supported basic payments. “But it was time to reengineer the whole thing and that’s how Android PoS came about,” he said. The Android PoS will not just accept all payments – from card to wallets; it will also offer EMI options on credit and debit cards. ‘Merchants are happy to pay a premium’ In February 2020, digital payments leader Paytm in February 2020 also launched point-of-sale device which will accept everything under the universe – Paytm wallet, debit/credit cards, all UPI apps and even offer EMI options. Then there's Mumbai-based Mswipe, which raked in ₹1.42 billion in revenue post demonetisation in the year of 2016-17. Meanwhile, Poynt – a smart terminal which is the brainchild of Osama Bedier, the creator of Google Wallet – is also looking at India as an ideal market. Poynt, as Bedier likes to call the ‘Android’ for digital payments. Yet, Mehra believes that its device which is not linked with a particular bank and gives a wide variety of options to the merchant, sets it apart. “Merchants look at us the best financing option. The market is still very big and under penetrated. Less than 20% of the total merchants in India are digitised. Our proposition is very unique which is targeted according to segments. We are flexible according to the merchant,” said Mehra. For this, merchants are happy to pay a premium as well. “Unlike our competitors we don’t have to say that our Android PoS is the cheapest or anything. Over the last nine months we have seen that if you solve merchants' problems, they are happy to pay a premium,” he said. Pine Labs, which has customers like Reliance Retail, Air Asia, Future retail, Jubilant Foodworks etc., now aims to target the small and medium segment even more and identifies it as a high growth area. “Until about 2 years ago, 20% of our merchants used to be SMEs, now more than 50% are from the SME segment. We see this number growing to 70%,” said Mehra. In 2020, Pine Labs has set targets for itself. It wants to double down on its Android PoS touchpoints. “The journey has just started, we were ahead of the curve by bringing it first to the market,” said Mehra. See Also: <a href="https://www.businessinsider.in/business/startups/news/paytm-pos-device-can-accept-credit-cards-debit-cards-e-wallets-and-even-take-food-orders/articleshow/73932263.cms">Paytm's new device can accept credit cards, debit cards, e-wallets – and even take food orders</a> <a href="https://www.businessinsider.in/from-mswipe-to-poynt-startups-are-investing-in-smart-billing-machines/articleshow/68684412.cms">A lot of money is flowing into making 'smart' billing machines in India</a>

Pine Labs is not worried about Paytm – and aims to double down on PoS transactions in a year

<ul><li><keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, a digital payments company, has said that its payment gateway business has turned profitable. </li><li>With an IPO in mind, the company is now aiming for a ₹1.4 lakh crore annual payment volume from the payment gateway business.</li><li>Earlier in July, Mobikwik had reported a funding of ₹8.67 crores. </li></ul>Mobikwik, one of India’s leading digital payments companies, has claimed that its payment gateways vertical had turned profitable since April 2019. “Our focus on building the best tech stack for our merchants is evident in the growth and success of our Payment Gateway business. Our product and user experience (UX) philosophy is to keep the user experience simple and ultra fast. Payment Gateway is one of our fastest growing verticals and will play an instrumental role in our path to profitability,” said Upasana Taku, Co-Founder, MobiKwik. With this, the payments company now aims to ₹1.4 lakh crore annual payment volume for its payment gateway business. As a payment gateway, Mobikwik finds clients in businesses like Uber, IRCTC, Dream11, Bajaj Finance, Zomato, Grofers, Blue Dart, Delhivery, Dominos, Maruti Suzuki, Hyundai, etc. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” said the company’s official statement. In July, the company had also announced a new round of funding of ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">reports</a>, Mobikwik is also planning to head for an IPO in the next three years. "We are looking for an investor who will help the company go for an initial public offering (IPO) in three years," co-founder and chief executive Bipin Preet Singh told <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">ET.</a> Mobikwik finds competition from the likes of Paytm, PayU and Razorpay in the payment gateway business. Paytm claims to hold over 50% of the market share and has said that it does 400 million transactions per month; is five times more than its next competitor. A report by Credit Suisse Group AG says that the Indian digital payments market will increase five-fold from the current $200 billion to $1 trillion by the year 2023. This has also resulted in many international players eyeing the Indian market like <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">Osama Bedier's Poynt.</a> Bedier is also credited to be the creator of the Google Wallet. In June 2019, Mobikwik had also partnered with DT One, a global B2B network for mobile recharge, giving its users the opportunity to recharge their phones in 150 countries. MobiKwik’s competitor in India, Paytm had already entered two international markets – Canada and Japan.

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The creator of Google Wallet is making a big bet on India via his 4-year old startup

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The creator of Google wallet just sold his startup for $365 million to GoDaddy

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A lot of money is flowing into making 'smart' billing machines in India

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Why This Google Wallet And PayPal Vet Thinks His New Product Will Be A 'No Brainer' For Businesses

JILLIAN D'ONFRO

Pine Labs is not worried about Paytm – and aims to double down on PoS transactions in a year

Sanchita Dash

Heading for an IPO, Mobikwik reports a profit in its payment gateway business

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