Ezetap has launched mobile Point of Sale device at a price below $50 in India.
The Bangalore-based company says the price of the first integrated and globally certified mobile Point of Sale device is one third the cost of any other integrated mobile card reader.
Ezetap will begin selling its new device this quarter.
Ezetap developed the solution in India.
The company was co-founded in 2011 by CEO Abhijit Bose, CTO Bhaktha Kesavachar, and mobile payments pioneer Sanjay Swamy who serves as the company’s Chairman.
The new Ezetap device has a magnetic stripe and chip card reader with a pin pad integrated into a single product.
The device is certified against global security standards and is compliant with the guidelines issued by the Reserve Bank of India.
Earlier this month, Ezetap achieved both EMV Level 1 and Level 2 certifications.
“To succeed, we needed to deliver a product that met the highest global security and technical standards, but at a price that could help spread the adoption of mobile payments in India and well as other markets,” said Abhijit Bose, co-founder and CEO of Ezetap.
Ezetap is crossing 7000 live devices in India alone and is adding over 2000 devices per month.
In addition to India, Ezetap is live in Kenya and will be expanding to South East Asia in the next three months.
Recently, VeriFone Systems and Lenovo have joined hands to offer mobile point of sale (mPOS) platform. The new platform is powered by Windows 8 Pro.
Retailers will benefit as the mPOS platform will enable them to transition to an mPOS platform that works with their existing multichannel management, store operations, e-commerce, merchandising, financials, and supply chain management.