Under this, merchants will be able to accept any wallet payment through Ezetap point of sale application.
Ezetap has tied up with four of the biggest wallet providers in the country viz, Paytm, Mobikwik, Freecharge and Novopay to provide one stop payment solution.
Abhijit Bose, CEO of Ezetap believes that there is an ardent shift towards the digital transactions carried out daily. He said, “Ezetap is committed to provide a simple and convenient way to escalate from cash to card to mobile payments and beyond.”
Just last month, Mumbai-based another mPoS (mobile point-of-sale) solution provider, ePaisa, had also announced a similar initiative by clubbing various digital wallets with its mPoS solution.
India has experienced industry disruption in ecommerce and is now in the middle of a similar revolution in the financial services market. According to experts, mobile wallet adoption has also grown exponentially with smartphone penetration and high use of internet. A research firm RNCOS’s study shows that the current Indian market size for mobile wallet (m-wallet) is about $54 Mn (INR 350 Cr),it is estimated to rise to $186 Mn (INR 1,210 Cr) by 2019.
The digital wallet companies like Paytm, Mobikwik and others have a large market, but it does not give liberty to merchants and other offline retailers to accept payment through one meticulous wallet.
With universal mobile wallet acceptance, companies like Ezetap and ePaisa aim to provide a unified one-stop solution to merchants for all payment acceptance.
According to the Ezetap, the company plans to add more major wallets into its solution. The Ezetap customers can avail the new service by accepting the ‘Terms & Conditions’ in the Ezetap Mobile POS app, whereas, new customers will have access to the solution automatically.
Ezetap had recently raised about $23.53 Mn (INR 150 Cr.) in a funding round led by Social+Capital and Helion Advisors, in August.
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