MICROCAPITAL BRIEF: India’s Ezetap Launches $50 Mobile Point-of-Sale Device

Ezetap Mobile Solutions, a Bangalore-based mobile payments service provider, recently announced the launch of a mobile point-of-sale device costing approximately USD 50. Merchants can insert the device into most mobile phones in order to accept money via payment cards. The device accepts personal identification numbers and reportedly complies with the Reserve Bank of India guidelines and global security standards.

Bhaktha Keshavachar, Co-Founder and Chief Technology Officer of Ezetap stated, “Adding the PIN Pad will, for the first time, allow every debit card in India to be supported for mobile payments. While difficult to do, we felt that a single integrated device would provide the best user experience for merchants and consumers.”

Since its inception in 2011, Ezetap has raised USD 3.5 million in venture capital form undisclosed sources.

By Ananya Tiwari, Research Associate

About Ezetap

Ezetap Mobile Solutions’ platform allows vendors to accept retail payments using their mobile devices as point-of-sale terminals by attaching an Ezetap Reader. Since its inception in 2011, Ezetap has raised USD 3.5 million in venture capital form undisclosed sources.

[1] Ezetap Press Release, http://ezetap.com/ ezetap-mpos-launch.html

MicroCapital, April 30, 2013: http://www. microcapital.org/microcapital- brief-us-based-sequoia- capital-invests-2m-in-equity- in-electronic-payment- platform-citrus-pay/

MicroCapital Universe Profile: Ezetap, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ezetap

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