02 April 2015

Citibank India unveils mobile card acceptance system

22 January 2013  |  7492 views  |  0 Indian flag

Citibank India has teamed up with local tech firm Ezetap on a Sqaure-like app and reader-based system for turning mobile phones into card payment acceptance devices.

The Reserve Bank of India-approved, PCI-compliant system will let merchants with an Android handset, dongle and app accept payments from the country's 320 million cardholders.

Several retailers, including Flipkart, Shoppers Stop, Bajaj Allianz, Vodafone and BookMyShowm have signed up to the technology, which Citi says can be simply integrated into their back-end systems and customised to meet specific needs.

In addition, says the bank, customers can use their phones from their own home to purchase goods and services, pay insurance premiums, mobile bills or buy movie and theatre tickets.

Muge Yuzuak, country head, cards and personal loans, Citibank India, says: "We believe that this payment and collection device has the potential to dramatically increase the penetration of card terminals from the current low level of 700,000 units in India."
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

04 January, 2013
13 December, 2012
13 November, 2012
08 November, 2012
12 October, 2012
03 July, 2009

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Europe sets the pace as fintech investment...
6519 views comments | 30 tweets | 20 linkedin
UK online banking fraud losses soar 48%
6139 views comments | 16 tweets | 19 linkedin
Future Money Focus: Mariano Belinky, Santa...
5882 views comments | 12 tweets | 12 linkedin
Apple Pay users running into checkout prob...
5077 views comments | 12 tweets | 15 linkedin
Swift London Business Forum to continue di...
4849 views comments | 5 tweets | 4 linkedin

Featured job

to $175k base, double OTE, benefits
New York City, NY (USA)

Find your next job