FreeCharge Partners With Ezetap To Drive Wallet Penetration

FreeCharge has partnered with Ezetap, allowing the entire base of FreeCharge users to immediately start using their wallets to make payments at thousands of Ezetap service points consisting of small and mid-sized retailers across India.

Ezetap’s Universal Mobile Wallet Acceptance is India’s first universal solution that allows merchants to accept customer payments from any mobile wallet through their existing Ezetap mobile point of sale (mPoS) application.

“Our aim is to create the ecosystem for digital payments and help consumers move from cash to digital. We are excited to announce this strategic partnership with Ezetap which will further enable millions of FreeCharge customers to transact at over 40,000 POS terminals in the swiftest and safest manner possible. FreeCharge believes partnerships are critical to scale acceptance and build habit of digital payments.” [Govind Rajan, Chief Operating Officer FreeCharge]

Today, customers are reluctant to use any medium other than cash for small ticket transactions due to the friction involved in the payment experience. This partnership eliminates friction by facilitating payments with just a few clicks in a secure payment method. Enabling wallet payments at retail merchants will enable the wallet consumers to use FreeCharge both not just online but at over 40000 offline points too.

Ezetap Raises Rs. 150 crores in Funding; Chamath Is Now Board Chairman

Ezetap has raised Rs. 150 crores in fresh funding.

Ezetap’s current investors; Social+Capital, Helion Advisors, and Berggruen Holdings are joined by Horizons Ventures, the private investment arm for Li Ka-Shing, and the Capricorn Investment Group in this round.ezetap_jpjul

Social+Capital founder Chamath Palihapitiya will become Chairman of Board – the first time the former Facebook executive has taken on this role with a portfolio company outside the United States (Chamath’s Social + Capital is also the lead investor in Prime Ventures, the fund behind Ezetap).

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Started in 2011 and launched in 2013, Ezetap has deployed over 60,000 new points of sale across India in under 30 months. Ezetap processes transactions worth over $1 million per day and has a customer base ranging from the most well known enterprises to tens of thousands of small retail businesses.

Plus, Ezetap is activating over 500 new small retail merchants a week and will use some of its funds to increase that by 5X in the next few months.

An ATM For Rs. 499 ($8)? SBI And Ezetap Launch Chota ATM

SBI in partnership with has launched Chota ATM, which is also a PoS terminal operating from neighborhood Kirana shop. The Chota ATM’s Point of Sale terminal will be used for collecting electronic payments from any Debit or Credit card.

The solution is offered at a price point of Rs. 499 (as a non-refundable deposit) with a monthly fee of Rs. 150 – and a commission of Rs. 5 per cash-back transaction. Any legitimate business can open a zero balance current account with SBI and any Android or Windows phone or Tablet with a WiFi or data connection. For any Cash@POS transactions, the amount plus commission are settled the next day into the bank account of the merchant.

CHOTA ATM

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Cash@POS is a proven solution in other parts of the world – in the US for example, any grocery store lets you pay with your card and withdraw up to $100 then and there.

RBI today allows a daily limit of Rs. 1000 per cardholder – hopefully this limit will be raised to say Rs. 5000 as the concept has recently started getting good traction.

Cash@POS solves several problems for the eco-system:

1)    Shopkeepers need a safe deposit for the cash they have – and today they hoard the money and eventually take it to a bank branch for depositing it into their account.

2)    For the merchant, the same terminal also becomes a Point of Sale terminal to collect card-based payments – in future these could easily be extended to true mobile payments.

3)    Banks need to circulate the money and securely transport it to an ATM machine. This adds a lot of security and operational costs to the banking ecosystem.

4)    ATM machines are extremely expensive – CAPEX and OPEX – and this means fewer ATM machines.

5)    A trip to the ATM machine is just that – but with the Chota ATM concept there is no longer a need for that. Consumers can just go to their neighborhood shop and purchase groceries and at the time of checkout, also “purchase” some cash. Or as you exit your taxi-cab, you could pay with your debit card and also withdraw cash.

6)    Banks pay a commission to retailers – essentially making this an income-generating tool too!

Last but not least Cash@POS can be a driver for financial inclusion in the country. When people know they can walk to the neighborhood store and withdraw cash, more people will be comfortable keeping cash in the bank – and over time realize they could just as easily shop and pay directly from their bank account, whether with a debit card or their mobile phone or anything else.

From a merchant’s perspective, its cash they would lock up overnight – and instead in 24 hours it earned them a commission of 5 Rupees.

Chota ATM and Safety

The solution is 100% certified by all the required standards and global best practices – EMV, PCI-PTS, PCI-DSS which are standards in the Payments industry. This means that the card reader and the PIN entry are exactly on par and certified as per the same standards as any other ATM.

One can very well imagine ALL shops in India turning into Chota ATM points in the next year.

SBI earlier partnered with Ezetap to deploy 500,000 mPoS terminals.

Ezetap Launches Integrated Financial Inclusion & Payments Platform

, the mobile POS solution Company, launched an integrated Financial Inclusion & Payments platform combining all the required components in a turnkey service that combines full Aadhaar-based Micro-ATM capabilities (including biometrics) with Card-based payments including RUPAY for MagStripe & EMV transactions, in addition to Visa, MasterCard & American Express – the company has also designed an elegant stand that will make it a must have device for all retailers & bank branches too.

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Ezetap, the Bangalore based firm incubated by AngelPrime, had earlier hit it big with SBI announcing to deploy 500,000 mPOS terminals within the next 5 years through the firm.

Few months earlier, Ezetap had acquired Clinknow, a loyalty platform that lets merchants create and push real time mobile offers to their customers. The integrated Ezetap solution can recognize a repeat customer during check-out and apply a saved offer which is pretty useful for small and medium sellers who can’t afford to setup and run their own loyalty programs.

Ezetap has made the right moves since it went live with partners that include Citibank, Flipkart, Bajaj Allianz, BookmyShow and ShoppersStop in January, last year. A proof to this was Credit card Company American Express (Amex) purchasing minority stakes in the Bangalore based firm with plans to extend their services in this region.

Ezetap had raised $8 million in a Series B funding, last February, from a group of investors led by Helion Advisors along with participation from existing investors, Social+Capital Partnership and Nicolas Berggruen’s PE fund Berggruen Holdings.

The mPOS firm has also received an EMV-Level 1 Certification, a global certification for credit and debit payment cards based on smart-cards that will help them provide security and global interoperability for their service users.

SBI Picks Startup Ezetap to Deploy 500,000 mPOS Terminals

For a startup, this is a big win. The State Bank of India has selected Bangalore based Mobile Solutions to launch its largest mobile Point-of-Sale (mPOS) deployment in India.

The bank plans to deploy 500,000 POS terminals within the next 5 years.

The mPOS market is expected to grow 17.2% CAGR by 2015. Nearly 80% of the retail market in India does not have POS installations to offer card-based payments.

POS terminals shipment volumes in the country are anticipated to grow from 0.8 million units in 2013 to 1.1 million units by 2015. In June, Bangalore based iKaaz launched its services in partnership with Kenya’s Family Bank.

Shortnews: News you could use, useful data and actionable insights in a crisp and easy format (Feedback:team@nextbigwhat.com).

Recommended Read: Electronic Payments 2.0: The Second Coming of Mobile Payments Startups

Payments Company Ezetap Acquires Clinknow, A Loyalty Platform

Mobile point of sale solutions provider has acquired Clinknow, a loyalty platform that lets merchants create and push real time mobile offers to their customers.

Abhijit Bose, Co-Founder & CEO of Ezetap said

Point of Sale solutions around the world are evolving from static terminals to dynamic, intelligent points of service. The integration of loyalty and offers is a natural extension of the point of sale.

Financial details of the deal weren’t disclosed.

The integrated Ezetap solution can recognize a repeat customer during check-out and apply a saved offer, he said. This is pretty useful for small and medium sellers who can’t afford to setup and run their own loyalty programs. 

Abhishek Nayak, CEO & Co-Founder of Clinknow  will join Ezetap. ClinkNow was launched by Gharpay Technology Services founded by Abhishek Nayak and Arpit Mohan in 2011.

Gharpay also ran a cash on delivery service that was sold to Delhivery, a Gurgaon based last mile delivery service company.

Through Clinknow customers will receive the offer on their mobile and can save it for future use. It also recognizes returning customers. RBL Bank is a customer of the bank.

Ezetap was founded in 2011 and has raised funds from Helion Advisors, Social+Capital Partnership, Angelprime, and American Express. It has customers like Myntra, BookmyShow, Bigbasket and Ola.

Amex Sees Growth Potential In Indian Payment Space. Picks Up Stake in Ezetap.

EzetapCredit card company American Express (Amex) has purchased a minority stake in Bangalore based mobile payment solution company .

The company plans to expand its growth and service in the region with the newly received investment.

This move reaffirms the fact that of payment solution companies in India are resurging.

Earlier in February 2014, Ezetap raised $8 million in a Series B funding from a group of investors led by Helion Advisors along with participation from existing investors, Social+Capital Partnership and Nicolas Berggruen’s PE fund Berggruen Holdings.

Co-founded in 2011 by Abhijit Bose and Bhaktha Keshavachar, Ezetap allows feature phones, smart-phones and tablets to be converted into full-fledged Point of Sale terminals by plugging in the Ezetap Card-Reader, which has been designed and manufactured in India.

In 2013, the company had launched a new and advanced version of its mobile card reader for under $50. The service also received EMV-Level 1 & 2 Certification, a global certification for credit and debit payment cards based on smart-cards.

Recent Activity in the Indian Payment Space

Lately, the mobile payment space has been gaining a lot of attention from venture capitalists. Since October 2013 mobile payments solutions companies including Ezetap, Livquik, emPay, Mswipe, iKaaz and Eashmart have all raised funding.

With the growing number of Indian mobile subscribers, currently at around 893.3 million, payment solution companies like Ezetap which rely on this user base are attracting a lot of attention from international players.

Earlier in February, American Express Company, the corporate venture arm of Amex, made its first investment in India by investing in Capillary Technologies, a Bangalore based cloud software company.

Payments Startup Ezetap Secures $8 Mn Series B Funding From Helion & Others

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Mobile payment solutions company has raised $8 million in a Series B funding from a group of investors led by Helion Advisors along with participation from existing investors, Social+Capital Partnership and Nicolas Berggruen’s PE fund Berggruen Holdings.

With this new funding Ezetap becomes one among half a dozen mobile payment companies that raised funding in the past 6 months. Lately, the mobile payment space is gaining a lot of attention from venture capitalists. Since October 2013 mobile payments solutions companies including Livquik, emPay, Mswipe, iKaaz and Eashmart have also raised funding.

Ezetap has raised a total of $11.5 million from 2 rounds. The company has raised $3.5 million in Series A funding round in November 2012, from investors including PayPal’s Peter Thiel and Yammer Co-founder David Sacks.

Launched in 2011, Ezetap allows feature phones, smart-phones and tablets to be converted into full-fledged Point of Sale terminals by plugging in the Ezetap Card-Reader, which has been designed and manufactured in India.

In 2013, the company had launched a new and advanced version of its mobile card reader for under $50. The service also received EMV-Level 1 & 2 Certification, a global certification for credit and debit payment cards based on smart-cards.

With the mobile subscriber base in India touching 886 million, and steadily growing number of data users, payment solution companies are trying to tap into this market.

Recommended Read: Electronic Payments 2.0: The Second Coming of Mobile Payments Startups

India’s Square, Ezetap launches $50 Device to Turn Mobiles into a PoS Machine

EzetapPayment startup Ezetap has launched a low cost point of sale device which sells for under $50, that can be plugged into a smart device or a feature phone to turn it into an intelligent point of sale device.

Although the company had launched a device earlier, this is a much more advanced version of it.

The new device has a magnetic strip and a chip card reader with a pin pad integrated to the product and is part of the startup’s global expansion plan.

Ezetap is backed by Angelprime, a Bangalore based incubator backed by Peter Thiel, Chamath Palihapitia and David Sacks.

The company says that the device is one third the cost of any other integrated mobile card reader.

Earlier this month, Ezetap said that the company was the first to achieve both EMV level 1 & level 2 certification. EMV is a global standard for electronic payment cards.

The company’s point of sale device supports more than 10 banks in India including Citibank and Yes Bank.

Ezetap was co-founded by former Oracle and NGPAY executive Abhijit Bose who is the CEO and Intel veteran Bhaktha Kesavachar. AngelPrime’s Managing Partner and payments industry veteran, Sanjay Swamy is the Chairman and former Chief Architect of UIDAI is chief technology adviser.

In markets like India where cash on delivery is a dominant method of payment for e-commerce shipments, Ezetap has massive potential. Smartphone penetration in the country is on the up and existing point of sale devices are clunky.

The company already has e-commerce businesses as Myntra, Bookmyshow, BigBasket and redBus as its clients.

Ezetap Receives EMV-Level 1 Certification, Global Standard for Payment Cards based on SmartCards

Mobile POS service provider, has received EMV-Level 1 Certification, a global certification for credit and debit payment cards based on smart-cards that will help them provide security and global interoperability for their service users.

EMV is a global standard for credit and debit payment cards based on smart-cards  formed by a consortium consisting of Europay, MasterCard and Visa. The Level -1 Certification is for the hardware device (electrical, mechanical and protocol) and Level-2 Certification for the software are mandatory requirements for any terminal.

The Bangalore based Mobile Point of Sale (mPOS) startup, incubated by AngelPrime, also said that they are in the advanced stages of the EMV-Level 2 Certification as well as in the process for meeting the Payment Card Industry’s requirements for PIN entry devices.

This development in the Indian mobile mPOS scene will be a big step forward for the advancement of mobile POS systems.  In a country where most users are unsure of the saftey involved with submitting credit/debit card details online, this new system is more secure than the previous alternate, especially after this certification.

The Ezetap system consists of a card reader that can be plugged into a smart device or feature phone, and turn it into a mPOS device. The hardware accessory that reads the data on the magnetic strip of the debit/credit card and securely transmits it to the server for processing. The end-to-end Ezetap solution are manufactured in India and is compliant with global security guidelines including the Payment Card Industry Data Security Standard (PCIDSS) and the Payment Application Data Security Standard (PADSS), global security standards developed by the Payment Card Industry Security Standards Council.

“Conceiving, designing, developing and manufacturing a Mobile POS device that meets the EMV Certification is an arduous task”, said Bhaktha Keshavachar, Co-Founder & CTO of Ezetap.

Earlier, EzeTap raised $3.5mn funding from Peter Theil, Chamath Palihapitiya (of Social+Capital Partnership), PE player Nicolas Berggruen and Yammer founder, David Sacks. The service has partnered with various banks including Citibank, HDFC Bank, Yes Bank and State Bank of India to provide the service and ecommerce portals like Flipkart, Jabong, Myntra, BookMyShow have adopted this system.

Recommended Read: All you need to know about EZETap : Pricing Model, Hardware Capability

We had recently covered Circleitup , a company that provides a low cost device which plugs into a phone and converts the phone into a card reader.

Insights: How India can minimize credit-card fraud in 60 days [“Eliminate Landline (un-encrypting) POS terminals immediately”] 

 

Circleitup Wants To Make Payments Easier through Mobile Point of Sale Devices

That Cash On Delivery is a pain in the wrong side for ecommerce companies is no secret. That clunky mobile point of sale devices are a pain in the wrong side isn’t a secret either.

Some startups are trying to solve this problem. There’s Ezetap, an AngelPrime incubated company which provides small mobile POS. Meet a new entrant: Circleitup.Circleitup

The company provides a low cost device which plugs into a phone and converts the phone into a card reader.
Merchants need to sign up for an account on their site to buy a Circleitup Swiper that can be attached to a mobile phone. One needs to download the Circleitup app from the phone’s app store to start accepting payments from credit and debit cards.

Card transactions are approved immediately and then payment is guaranteed, unlike cheques or invoices which can bounce or go unpaid. Once the transaction is complete, the amount gets deposited into the bank account of the seller.

It works with tablets as well.

The Gurgaon based company is being promoted by Tanuj Sethi who co-founded Sanya Construction, a real estate company.

The idea of making taking the pain of cash on delivery out is quite appealing. However, mobile point of sale devices aren’t entirely new to the market. The devices have become cheap and Chinese imports will commoditize the market soon. Before you know, everyone will be selling these point of devices. The big question is: How do you create differentiation? How do you partner with large financial institutions to accelerate user adoption?

While the solution benefits ecommerce companies, which is around $10 billion in India, can it aspire to tap into the $450 billion retail market which is dominated by cash transactions? In a country like India, where cash is still king, and card transactions are charged over 2% of the order value, how do you convince retailers to sell on card?

How India can minimize credit-card fraud in 60 days [“Eliminate Landline (un-encrypting) POS terminals immediately”]

The news that more than 30crore (~USD 6Million) of credit card fraud is hitting Indian consumers with potentially more to come is most disturbing – not because of the scale of the fraud, but because of the trivial cost today of minimizing such fraud. While the longer-term migration to Chip cards and PIN or Aadhaar-biometric authentication might be inevitable, these are also extremely expensive and impossible to implement overnight. As someone who has been in mobile payments in India and is currently an investor, I have seen many new and secure technologies developed in India that can help address this problem.

Like all problems, there are often incremental solutions where 90% of the value might be obtained with 10% effort – and indeed in this situation, there are several things the industry could do to make things easier and safer for merchants and consumers. All 3 suggestions could be implemented in less than 60-90 days if the industry so chooses!

1) Eliminate Landline (un-encrypting) Point of Sale (POS) terminals immediately

The first generation of POS terminals read card data on the magnetic stripe when it was swiped and transmitted them without encryption over landlines. Skimming fraud can happen in such cases merely by tapping the phone-line, without even the Merchant knowing it, and a clone of your credit card can be manufactured and used in a different part of the world within 30 minutes. This risk can be eliminated by replacing all existing un-encrypting POS terminals with encrypting terminals. While this may appear expensive, the emergence of the low-cost but extremely secure encrypting Mobile POS terminals – already available in India via Citibank, HDFC Bank, ATOS, YesBank, State Bank of India & American Express at a sub-1000 rupee price-point – makes this an incredibly simple and affordable solution for merchants to adopt.

2) Restaurants introduce Pay @ Table – ideally with the consumer swiping the card

A second variation of Skimming fraud happens at restaurants or wherever you give your card to a waiter – the waiter can procure a skimming device and copy the magnetic stripe data that is subsequently cloned. In today’s portable device world, such practices should be eliminated. We have to move away from the “folder” to a “Pay @ the Table” model – this ensures that the card never leaves your sight. Once again the Mobile POS terminals can minimize such fraud risks.  Today a few restaurants are beginning to use this as a tool to reduce their risk while reassuring consumers.

3) Turn OFF my card when I am not using it!

While the first two points are on the merchant POS side, the third suggestion revolves around the consumer side. The credit card industry has always worked with the model that a credit card has got to be easy to use. However banks have got to offer the consumer the option of a simple “ON/OFF” Switch when they want to do a transaction. One approach is to use a simple technique like a Missed Call from the registered mobile number to turn “on” the credit card for say one transaction or 15 minutes. In other words, as a consumer, when I have to pay my bill, I pull out my mobile phone and dial a number. I then hand my card to the retailer and everything goes through. However, even if someone has skimmed my card, they can never use it unless my mobile phone “pre-activates” the card. Over time, a smart-phone application could perform the same task. This will ensure that no thief can use my card on the Internet or at the POS, whether domestically or internationally.

These three simple approaches can indeed reduce risk to merchants and or and reassure consumers that their Credit or Debit Card is indeed the safest way to pay at the till or at a gas station or at a restaurant. The low-cost and speed with which these solutions can be deployed make further delays unacceptable.

[About the Author: The author, Sanjay Swamy is currently Managing Partner at AngelPrime Partners, an early-stage investor. He was previously CEO of mChek and served as a volunteer on Authentication & Payments for the Unique Identification Project. He is an active proponent of electronic payment transactions. He can be followed on Twitter @theswamy

Disclosure: Sanjay Swamy is an investor in ZipDial and Ezetap.]

EzeTap launches. Partners include Citibank, Flipkart, BookmyShow and other

AngelPrime incubated Mobile PoS startup, EzeTap has gone live with partners that includes Citibank, , Bajaj Allianz, BookmyShow and ShoppersStop (read: All you need to know about EzeTap).

EZEtap_Mobile_POS_thumb.jpgPost this partnership, Citibank has announced a new paperless mobile payment system for its credit and debit card customers that would do away with the charge slips and would be implemented for the entire global network of its US-based parent Citigroup.

The new system can work through a dongle, which can be plugged into smart phones and tablets and is compliant with the global security standards developed by the Payment Card Industry Security Standards Council.

“The secured paperless transaction not only does away with managing charge slips but also combines the many benefits enjoyed by Citibank card customers, including instant redemption of reward points, ability to opt for EMI payment option while using this new payment alternative”

EzeTap has raised funding from Peter Thiel, Chamath Palihapitiya and Yammer’s David Sacks and recently, another mobile PoS company, MobiSwipe raised funding from One97 fund and Mswipe raised funding from Matrix Partners.

Recommended Read : Mobile Banking in India on rise

Matrix Partners India invests in mobile payments company Mswipe

Early stage investment firm Matrix Partners India has invested an undisclosed amount in mobile POS device and service provider MSwipe Technologies Private Limited. mobile banking

The company said that in 4 months since going live, MSwipe’s point of sale (POS) terminals have been deployed in over 200 cities and towns in India.

The Mumbai based POS provider has partnered Prizm Payment Solutions and Axis bank to provide merchant services for over 4,000 merchants in India.

“This opportunity is at the cross section of financial services and mobile, two important focus areas for Matrix India,” said Rishi Navani, Managing Director, Matrix India.

Matrix Partners India, with Rs 3,000 crore under management has previously invested in companies like Muthoot Finance, online classifieds site Quikr and mobile applications maker Ver Se.

The Mobile Payment solutions business in India is seeing a fair bit of investor action these days. In November, Mumbai based POS solutions company MobiSwipe raised an undisclosed amount from One97 fund.

In the same month, India’s square, EZETap secured $3.5mn funding from Paypal’s Peter Thiel, Chamath Palihapitiya (of Social+Capital Partnership), PE player Nicolas Berggruen and Yammer founder, David Sacks.

With the Indian government pushing hard for financial inclusion and high mobile penetration, the mobile payments industry is set for some boom time action. What are your thoughts?

India’s Square, EZETap secures funding from Peter Thiel, Chamath Palihapitiya and Yammer’s David Sacks

India’s square, EZETap has secured $3.5mn funding from Paypal’s Peter Thiel, Chamath Palihapitiya (of Social+Capital Partnership), PE player Nicolas Berggruen and Yammer founder, David Sacks.

EzeTap was officially launched on September of this year and allows feature phones, smart-phones and tablets to be converted into full-fledged Point of Sale terminals by the addition of a secure, yet compact accessory – the Ezetap Card-Reader – which has been designed and manufactured in India.

Ezetap is co-founded by former Oracle and NGPAY executive & Harvard MBA, Abhijit Bose who is the CEO and Intel veteran Bhaktha Kesavachar, CTO; AngelPrime’s Managing Partner, Sanjay Swamy is the Chairman.

The service works with feature phones such as Nokia S40, as well as Android, Windows Mobile and Apple iOS platforms, and has already been piloted by leading merchants and is being offered by leading merchant acquiring banks in India. By electronically capturing signature, the service has eliminated the need for paper receipts – making for a customer-friendly and environmentally-friendly service.

Recommended Read: All you need to know about EZETap : Pricing Model, Hardware Capability

All you need to know about EZETap : Pricing Model, Hardware Capability

Today, we shared the launch of EZETap, a a mobile POS solution company. Here are 5 key things you need to know about EZETap:

1. What is EZETap?

EzeTap is a merchant solution. Unlike some of the other similar solutions in this market, EZETap has a hardware accessory that actually reads the data of the Magnetic stripe of the consumers debit/credit card and securely transmits it to the server for processing.

2. EZETap Pricing Model

EZETap is priced as a SAAS service – i.e. purely on subscriptions and NOT on transactions – although the merchant’s bank may have a transaction-fee based model. Large merchants can piggy-back on their existing merchant banking relationship – [others can contact info at ezetap dot com].

3. EZETap Hardware

How is hardware different from several Chinese/Hongkong based cheap attachments? Sanjay mentions that they have built end to end security solution (data is encrypted) and importantly, the entire solution is designed for feature phones (while most systems are designed for smartphones).

The price of hardware is Rs. 1500/.

4. EzeTap Benefits

Apart from serving use cases like remote payments etc, the major USP of the solution is direct reconciliation. Once the payment is received, it can be updated in merchant’s billing system immediately.

The service works with feature phones such as Nokia S40, as well as SmartPhones Android to start with while Windows Mobile and Apple iOS will follow soon; and has already been piloted by leading merchants and is being offered by leading merchant acquiring banks in India. By electronically capturing signature, the service has eliminated the need for paper receipts – making for a customer-friendly and environmentally-friendly service.

5. Merchants:

Merchants would need to get approval from banks to use this service (and if you already have, then you could be up and running very quickly).

Got more questions? Ask them in the comments section.