India's first Aadhaar Pay-enabled payment terminal launched
Bengaluru-based payment services company Ezetap has launched India's first open-platform, smart GPRS payment terminal which is enabled with Aadhaar Pay. Called EzeSmart, it runs on Ezetap's universal payment acceptance platform and can accept all sorts of payment modes including UPI, Bharat QR, and Aadhaar Pay. The service is also enabled with eKYC. Here is more on it.
EzeSmart is compatible with UPI, eKYC
EzeSmart boasts of being capable of accepting payments from multiple mobile wallets along with credit and debit cards. A person who has linked his Aadhaar Card to his bank account can transact through EzeSmart just by a single touch on the fingerprint sensor of the payment device. Due to its universal compatibility, businesses can run any of their system applications on the device.
It is a truly integrated payment acceptance platform in India
Bhaktha Keshavachar, co-founder of Ezetap, said, "We have invested time and effort to build the first and truly integrated payment acceptance platform in India ... we continue to build products, hardware, software and business processes that help merchants to collect any types of payments seamlessly."
EzeSmart caters to industries like government, SMEs, BFSI, e-commerce
EzeSmart primarily caters to the business and operational needs of industries like government, SMEs, BFSI, and e-commerce. Through its payment terminal, it also allows micro-finance institutions to seamlessly and digitally provide services to their rural customers and collect payments from them. The eKYC feature allows businesses to easily authenticate customer identity without investing in additional infrastructure. The product is already being used by BigBasket.
Ezetap competes with start-ups like mSwipe, PhonePe and Paynear
Last year, the mPOS solutions start-up raised $16 million in a funding round led by JS Capital Management, the venture capital arm of Jonathan Soros. Ezetap also acquired FortunePay in 2017. The company directly competes with other start-ups like mSwipe, PhonePe, ePaisa, Mosambee, and Paynear.
