Bangalore-based digital payments startup and mPOS maker Ezetap today launched EzeSmart, an open-platform, GPRS based point-of-sale (PoS) terminal, which is Aadhaar Pay enabled and has eKYC authentication option as well.
EzeSmart, which runs on Ezetap’s universal payment acceptance platform, is the first POS terminal in the country capable of accepting all payment modes including UPI, Bharat QR and Aadhaar Pay. It can also support payment acceptance from multiple mobile wallets along with credit and debit cards. It is a smartphone integrated terminal which enables businesses to run any of their system applications on the device.
Speaking on the launch, Bhaktha Keshavachar, Co-founder and CTO of Ezetap said, “EzeSmart is the culmination of our belief in India’s digital growth story.We have invested time and effort to build the first and truly integrated payment acceptance platform in India. And as we continue to build products, hardware, software and business processes that help merchants to collect any types of payments seamlessly, the successful launch of EzeSmartis a reaffirmation of our belief that India is years ahead of the most developed countries in terms of our innovation in the Fintech ecosystem.”
EzeSmart is designed to match the business and operational needs of various industries including government, SMEs, BFSI, e-commerce, etc. EzeSmart enables a person with an Aadhaar linked bank account to transact conveniently, just by the touch of one’s finger on the fingerprint sensor of the device. This enables micro-finance institutions that use this terminal to service their rural customers and collect payments digitally.
Another key feature of this terminal is eKYC. This means that any business which needs to authenticate a customer identity can use this terminal and does not have to invest in additional infrastructure.
Founded by Silicon Valley veterans in 2011, Ezetap was one of the pioneers in the mobile point of sale (POS) market, and the first company to focus on integrating that payment experience into other software applications and systems used by merchants to run their businesses. While most payment companies today still make money from transaction fees, Ezetap was one of the first companies to move payments to a pure software-as-a-service business model.
Ezetap created India’s first universal payments platform in 2015, allowing merchants to accept any digital transaction including physical cards, online payments, mobile wallets, or one-click payments via India’s new UPI system that allows any device or interface to use biometric data, SMS, or digital QR codes.
In August 2017, the Ezetap had raised $16 Mn in a funding round led by JS Capital Management, the VC arm of Jonathan Soros. The startup competes with include mSwipe, PhonePe ePaisa, Mosambee, Paynear, among others.