Ezetap expanding into mass transit, ticketing sectors: CEO Abhijit Bose1 min read . Updated: 13 Mar 2018, 11:24 PM IST
Ezetap CEO Abhijit Bose says mobile payments and other modes of payments are getting increasingly complex, as merchants expand into new sectors like smart retail, e-commerce
Bengaluru: Bengaluru-based point of sale (PoS) device maker Ezetap is expanding into mass transit, ticketing and the government sector, a top company executive said.
Abhijit Bose, chief executive officer of Ezetap told Mint that mobile payments and other modes of payments are getting increasingly complex, as merchants expand into new sectors like smart retail, e-commerce and online delivery.
Each of these segments has very complex requirements since the procurement of goods, billing, distribution and business processes like supply chain activities and inventory management are getting linked to the payment layer.
Bose added that to serve the growing needs of such merchants, payment solutions have to be custom built with easy integration into business back-end systems, ERP and CRM software.
According to Bose, recently announced smartcity projects provide a huge market potential for mobile payments.
Ezetap on Monday tied up with payment service provider Verifone to launch new mobile payments solutions. The tie-up will allow Ezetap to tap into Verifone’s large user base in India. Verifone will integrate with Ezetap’s software platform to offer customized payment solutions to merchants. Verifone, which also makes and distributes PoS devices, has been in India since 2005.
Globally Verifone has over 30 million devices in more than 150 countries. Ezetap’s software platform is live with around 200,000 merchants in India.
Merchants can now use Verifone terminals to accept payments made via credit cards, debit cards, pre-paid wallets, UPI, Bharat QR and biometric-based Aadhaar Pay.
“With Ezetap’s powerful gateway to all major banks in India, Verifone will be able to accept a variety of payment types that will allow consumers to shop anywhere with their debit or credit card, mobile wallet, and even with the local Bharat QR scanner and mandated Aadhar-based biometric authentication," said Vinayak Prasad, general manager of South Asia, Verifone in a statement.
Ezetap claims to processes over $1.5 billion annually and has raised over $50 million in funding from investors like Social Capital, Helion Advisors, American Express, and Prime Venture Partners among others.