State Bank of India (SBI) has teamed up with Ezetap Mobile Solutions, a mobile payment technology provider, to launch mobile Point-of-Sale (mPOS) deployment in India.
Under the agreement, Ezetap will make its solution available to customers of the bank and its associate banks across the country.
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SBI, the public sector bank in India, plans to deploy 500,000 POS terminals within the next five years, Ezetap said.
The Ezetap technology turns merchant’s mobile device into an intelligent PoS which will be able to read any type of card and complete any financial transaction from a credit card sale to a real-time bill payment, to an ATM cash withdrawal or deposit.
Ezetap solution is comprised of a lightweight card reader, a configurable mobile application, and a flexible platform that allows Ezetap to provide customized value-added services and integrate to a merchant’s existing systems.
State Bank of India deputy managing director SK Mishra said, "Mobile POS has the power to transform payments and commerce in India. MPOS can be deployed easily and at low cost in every corner of the country."
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By GlobalData"In addition to building India’s largest merchant acceptance network, the SBI-Ezetap platform allows us to provide many value-added services for merchants and consumers from a single, secure POS device and application."
