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Digital payments roundup: FreeCharge, Paytm and YES Bank

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FreeCharge ties up with Ezetap 

Payments company and wallet FreeCharge has tied up with mobile POS solution provider Ezetap to enable Freecharge’s customers to make payments across Ezetap’s service points. Earlier in October 2015, Ezetap had announced universal mobile wallet acceptance on its platform. As part of the deal, FreeCharge will also run yearlong offers with individual Ezetap merchants that come on board with Ezetap. FreeCharge customers will be able to make payments across 40,000 mobile POS terminals on Ezetap. To give context, the Reserve Bank of India’s data for November 2015 shows that there are 12,69,871 POS terminals in the country.

Paytm signs a deal with Aditya Birla Retail

Paytm has signed a deal with Aditya Birla Retail, which runs the supermarket chain “More”, to enable its customers to make payments across its stores. The tie-up will be active across 137 cities where “More” stores are operational. Earlier this month, Paytm inked an agreement with Indian Oil to let users pay for vehicle fuel at petrol pumps through Paytm wallets in Delhi. Paytm also entered omni-channel retail model by tying up with offline players in the mobile and electronic appliances sector and enabling them to list their stores on its e-commerce marketplace.

YES Bank signs up with Ultracash for proximity payments

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YES Bank has partnered with Bangalore-based Ultracash Technologies to enable proximity payments via ultra high frequency sound waves. The partnership will enable Ultracash to issue YES BANK sponsored mobile wallets and employ YES BANK’s IMPS payments platform to enable processing of instant proximity transactions.  Ultracash’s ‘Tap and Pay’ works on all devices and doesn’t need any NFC chips for proximity payments. Payments can be made across merchants and person-to-person payments.

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