Ezetap, a company incubated by AngelPrime, startup incubator founded by Bala Parthasarathy, Shripati Acharya and Sanjay Swamy, has launched a mobile PoS (Point of sale) solution that allows feature phones, smartphones and tablets to be converted into Point of Sale terminals, by adding a compact accessory, the Ezetap Card-Reader.The company claims that the product has been designed and manufactured in India. According to the company, the service can work with feature phones such as Nokia S40, as well as Android, Windows Mobile and Apple iOS platforms, and has already been piloted by leading merchants. It adds that the product is already being offered by leading merchant acquiring banks in India, however, it did not name them.
The company says that Ezetap complies with all global banking industry best practices, and lets merchants of all sizes to avail a substantially lower cost solution that allows them to accept credit/debit card payments at the point of transaction – in-store, on the road, or at the customer’s doorstep. The service also does away with paper receipts as it can capture signatures electronically. Ezetap claims that it has designed and developed its entire hardware and software technology stack end-to-end, and can be launched by banks in 2-3 weeks and by merchants in a few minutes.
Ezetap is co-founded by former Oracle and NGPAY executive, Abhijit Bose who is the CEO and Bhaktha Kesavachar, CTO; AngelPrime’s Managing Partner, Sanjay Swamy is the Chairman.
It would be interesting to see how merchants integrate these solutions, specially e-commerce players, who can offer card on delivery and eliminate the problems that they encounter with cash on delivery, as a payment option.
Other M-PoS Players in India
The mobile PoS devices segment continues to witness a lot of action this year. Recently, Axis Bank, an Indian private sector bank, partnered with Prizm Payments and Mswipe Technologies, to launch Swipeon – a mobile phone based card acceptance service or mobile POS terminal. CDMA based mobile operator, MTS, had also launched MTS mPOS, its own mobile point of sale device that can be attached to MTS mobiles for mobile transactions.
Earlier, PayMate, the mobile payments company,had launched a PayPOS mobile application, which also enabled credit and debit cards payments and electronic transactions on mobile phones at the point of sale (POS). However, unlike MTS’ mPOS service, PayMate is an application based payment application and is available on all Android/iOS devices.
It all started with US based payments company Square, co-founded by Jack Dorsey, which also offers a similar solution, however, it is also not available in India. PayPal also followed suit and launched PayPal Here. PayPal Here is a similar solution, however, it’s only available on the iPhone and not available in India yet.