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Citibank Ties Up With Ezetap For Mobile Payment PoS Solution

Mobile point of sale (PoS) payments startup Ezetap has partnered with Citibank to launch a mobile payment solution merchants targeting credit and debit card holders in India. The partnership will offering merchants real time information during the payment and collection process, when customers transact using Ezetap. Citibank claims to have partnered with several companies including Shoppers Stop, Bajaj Allianz, Flipkart, BookMyShow and Vodafone to deploy this solution for payment and collection. Ezetap had launched its PoS solution last September, allowing feature phones, smartphones and tablets to be converted into Point of Sale terminals, by plugging in a dongle-like accessory called Ezetap Card Reader.

We’ve been awaiting a response from Ezetap about this rollout since yesterday, and will update in case we hear from them.

Other Card Reader Solutions

EzeTap isn’t the only Square-clone in India: In December 2012, Yes Bank had launched a mobile point of sale (mPOS) which allowed GPRS enabled mobile phones to be converted into Point of Sale terminals. In September 2012, Payments solutions provider Oxigen had launched a Mini ATM device called OxiShaan which also acts as a mobile point of sale (PoS) terminal and can be used for utility services like Mobile recharges, DTH Recharges, and Merchant Payments among others. In July 2012, Axis Bank had partnered with Prizm Payments and Mswipe Technologies to launch an mPOS solution called Swipeon while the CDMA based mobile operator, MTS India, had also launched its own mobile point of sale device called MTS mPOS which can be attached to MTS mobiles for mobile transactions.

Investments in Mobile Payment  PoS solutions

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In November 2012, Ezetap had raised $3.5 million in series A funding from Peter Thiel, Chamath Palihapitiya, Nicolas Berggruen and David Sacks. In the same month, Mumbai-based mobile PoS Company MobiSwipe Technologies had also secured undisclosed amount of funding from One97 Mobility Fund.

Earlier in the month, MSwipe had raised undisclosed amount of money from Matrix Partners. Its also worth noting that Matrix Partners had previously invested in the mobile payments company Itz Cash.

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