Ezetap launches first 'made in India' mobile POS unit

Bangalore-based firm claims to have developed the first India-made mobile point-of-sale card reader, which costs less than US$50 and has been certified to global security standards.

Indian company Ezetap has launched a device which turns any smartphone into a point-of-sale (POS) credit card reader.

Company founder and CEO Abhijit Bose said it was the first locally developed and manufactured product supporting magnetic stripe, chip and pin transactions, according to a statement released last week.

Ezetap launches first 'made in India' mobile POS unit for under US$50.

The device, which also works with some featurephones, will go on sale this quarter for less than US$50. It has been certified in line with global security standards--EMV level 1 and 2--and is also compliant with the Reserve Bank of India's guidelines.

"Competing head-to-head against global payments companies using devices manufactured in China in the fast-growing mobile POS market , the entire Ezetap solution from its card reader to service platform has been 100 percent designed and developed in India," Bose said.

The Bangalore-based firm already sells a smartphone accessory that can be used to swipe a credit card , and counts 7,000 live devices in India; It is adding over 2,000 more per month.

Besides India, Ezetap is live in Kenya and will expand to Southeast Asia by October.