Given the sheer number of payments service and solution providers that have sprung up in the banking ecosystem in recent times, you could be forgiven for assuming that Ezetap is yet another Paytm-like mobile wallet. In reality, however, the company is a portable card payment device manufacturer that builds such devices at a fraction of the current cost. Most card payment devices are currently imported from companies in China, Europe and the US and can cost up to Rs.15,000; Ezetap builds the same for Rs.3,000 at its Bengaluru factory. It has been able to achieve this by designing and building the devices in-house with the help of its engineering team, thus maintaining tight control over production costs and price points. Ezetap retails a pocket-sized point of sale (PoS) chip, pin and magnetic strip scanner that not only reads the magnetic strips on credit and debit cards but can also convert mobile devices such as smartphones and tablets or even Windows desktop PCs into PoS terminals. The company then processes the payments by uploading the card information onto its secure SaaS cloud platform. Ezetap also provides its customers Android, iOS and Windows apps to process payments. The company’s device has become quite popular with retail outlets, restaurants, businesses, insurance companies, fast-moving consumer goods companies, banks and e-tailers such as Amazon, Urban Ladder and BigBasket.
Point of scale
Ezetap’s versatile PoS scanner is already giving both online and offline payment devices a run for their money
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