Bangalore based Ezetap Mobile Solutions, which was founded in 2011, was chosen by State Bank of India, the largest public sector bank, to launch a 5-year 500k m-POS deployment. The start-up was chosen given it has a price tag of less than USD 50 and has been fully designed and developed in India.
Apart from card payments, the solution can also carry out real-time bill payments and ATM withdrawals and deposits.
India has over 300M unique payment cardholders, but acceptance infrastructure isn’t good.
Mr. S.K. Mishra, Deputy Managing Director, State Bank of India said, “Mobile POS has the power to transform payments and commerce in India. M-POS can be deployed easily and at low cost in every corner of the country. In addition to building India’s largest merchant acceptance network, the SBI-Ezetap platform allows us to provide many value-added services for merchants and consumers from a single, secure POS device and application.”
Abhijit Bose, Co-Founder and CEO of Ezetap said, “State Bank of India can change the landscape of commerce in India by ensuring ubiquity of electronic payments in every corner of the country. Being chosen by State Bank of India is a validation not just of the solution that we have built, but also of our ability to scale and support the largest bank in the country.”
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