06 October 2015

Citibank India unveils mobile card acceptance system

22 January 2013  |  7692 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."

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


Top topics

Most viewed Most shared
Banks face choice to collaborate or compet...
8379 views comments | 43 tweets | 49 linkedin
BNP Paribas to pilot cards with dynamic CV...
6571 views comments | 31 tweets | 36 linkedin
Worldpay trials facial recognition technol...
6451 views comments | 23 tweets | 39 linkedin
Payments firm Adyen scores funding at $2.3...
5026 views comments | 16 tweets | 14 linkedin
Switzerland gets new fintech accelerator
4319 views comments | 15 tweets | 3 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job