Ezetap announced today the launch of its first integrated and globally certified mobile point of sale device with a price point under $50.
Competing head-to-head against global payments companies using devices manufactured in China in the fast-growing mobile point-of-sale market, the entire Ezetap solution from its card reader to service platform has been 100 percent designed and developed in India.
"To succeed, we needed to deliver a product that met the highest global security and technical standards, but at a price that could help spread the adoption of mobile payments in India and well as other markets," said Abhijit Bose, co-founder and CEO of Ezetap.
Ezetap has experienced rapid growth this year, with a growing list of top-tier partner banks and customers across segments. Ezetap is crossing 7,000 live devices in India alone and is adding over 2,000 devices per month.
In addition to India, Ezetap is live in Kenya and will be expanding to South East Asia in the next three months.
"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," said Bhaktha Keshavachar, co-founder & CTO, Ezetap.
Of the few companies across the world that have been able to provide a single integrated device, none have been been to deliver it at this price point.
"Beyond the money and time required, finding the expertise to build a product with this type of technology in India is almost impossible. It's exciting to see an Indian company setting the pace globally for this market," said Dr Pramod Varma, chief technology advisor for Ezetap and the former chief architect for the UID project.