EzeTap - Mobile Point Of Sale Device Launched. RBI Says 'OK!'
The Reserve Bank Of India isn't quite popular among the tech community in the country. The master bank has known to have it's own 'weird' thoughts about technology (read the references below) but now, in a welcome move, the bank doesn't mind payments through Ezetap - a mobile based point of sale device. The device itself costs a lot lesser than similar devices. Ezetap seems to be the faster, efficient and convenient device to use for accepting payments from customers.
India's thriving online commerce & retail has generated a need of secure and mobile point-of-sale devices as the e-commerce players look to move to cashless transactions. EzTap co-founder Abhijit Bose says that Indian market is the toughest, very competitive and cost sensitive at the same time. He expects that his company will sell about a million devices in the next 2 years.
The price of the EzeTap unit is Rs. 2900 and it has a lightweight card reader that can be attached to any smartphone. The minimum system requirement would be Android 2.2+ (many smartphones will have it). We're not sure whether this works with iPhone yet. Customers will have to swipe their cards on the mobile to complete the transaction. Here's how it all works-
1. The seller will enter the details of the transaction - mainly the amount to be paid by the customer and order number.
2. The user will have to swipe the card on the Ezetap device and then sign the onscreen area. Once that is done; the seller will just send the transaction.
The biggest painpoint Ezetap solves is the 'Cash On Delivery' - which seems to be the most popular option with the online buyers in India. When the goods get delivered, many people won't have the exact cash to pay. In such situations, people can get their card swiped on the device in front of their eyes.
Ezetap isn't the only player in the market and the competition already exists! Companies like Mswipe, Prizm Payments and Synergistic Financial Networks already offer mobile payment solutions. Ezetap has already launched operations in Kenya and now looking to enter the South-East Asian markets in the next 3 months.
Via: Ezetap launches $50 mobile point of sale device - The Economic Times
India's thriving online commerce & retail has generated a need of secure and mobile point-of-sale devices as the e-commerce players look to move to cashless transactions. EzTap co-founder Abhijit Bose says that Indian market is the toughest, very competitive and cost sensitive at the same time. He expects that his company will sell about a million devices in the next 2 years.
The price of the EzeTap unit is Rs. 2900 and it has a lightweight card reader that can be attached to any smartphone. The minimum system requirement would be Android 2.2+ (many smartphones will have it). We're not sure whether this works with iPhone yet. Customers will have to swipe their cards on the mobile to complete the transaction. Here's how it all works-
1. The seller will enter the details of the transaction - mainly the amount to be paid by the customer and order number.
2. The user will have to swipe the card on the Ezetap device and then sign the onscreen area. Once that is done; the seller will just send the transaction.
The biggest painpoint Ezetap solves is the 'Cash On Delivery' - which seems to be the most popular option with the online buyers in India. When the goods get delivered, many people won't have the exact cash to pay. In such situations, people can get their card swiped on the device in front of their eyes.
Ezetap isn't the only player in the market and the competition already exists! Companies like Mswipe, Prizm Payments and Synergistic Financial Networks already offer mobile payment solutions. Ezetap has already launched operations in Kenya and now looking to enter the South-East Asian markets in the next 3 months.
Via: Ezetap launches $50 mobile point of sale device - The Economic Times
Replies
You are reading an archived discussion.
Related Posts
After Apple announced the new Macbook Air 2013, people got their heads blown away with the battery life the machine offered. It's no wonder that several people booked their Airs...
Just a couple of days back we told you about the Lenovo Ideapad A1000 launch in India and now we're back with some more news from the Chinese manufacturer. It's...
We've been writing about the Blackberry & Indian government love affair for a long time. The two seem to stay with each other but can't get to agree on the...
If a i'm a first time bike buyer what are the things that should be noted?
1)whether cc or torque or power?
2)what will be use of having the higher...
Good morning to all CEans .
As I am pursuing my final year in automobile engineering I want to know how can a email id creates a impression on a...