August 14, 2014: Bangalore based firm Ezetap that is venturing into the mobile payments in the emerging markets has made it possible for numerous merchants to accept the payments made using credit and debit cards right on the handheld devices. Now, the payment device includes new features that will extend its utility and make it more beneficial.
This new payment device solution was made use of by banks such as SBI, Citibank and HDFC. This device helps in carrying out important tasks that one who do in an ATM such as check balance, get a mini statement, withdraw cash, transfer money and others. It also facilitates in opening a new account based on Aadhaar card details besides he aforementioned activities.
The Ezetap payment device includes a lightweight card reader that can be plugged into a smart device or a feature phone that is used by the merchant or retailer. With the boom in the low cost smartphone and tablet market, it is expected that the payment device concept will witness a substantial growth with an increase in the percentage of transactions. The mobile payment solution from Ezetap has the unique ability to be integrated to the back-end system of businesses and it can be customized to meet the specific requirements of the merchants.
It has to be noted that the new add-on features of the Ezetap payment device comes in at the right time when the Narendra Modi led NDA government is believed to launch the Sampoorn Vittiya Samaveshan concept that is claimed to be a comprehensive financial inclusion program on August 15, 2014.
Also, in one of the most recent reports by the Department of Financial Services, it was mentioned that the Indian banking industry has witnessed a massive growth with a significant increase in the number of branches in the rural regions, but this growth is not in pace with the growing population and still there is need for more accessible financial solutions.
For now, Ezetap has offices in Indian cities such asBangalore,Delhiand Mumbai and it has started operating lately inKenya. As per a retailer, it would be great if the payment device provider expands its presence with a mobile point of sale within five kilometers of every household.
