24 July 2016
Find out more

Citibank India unveils mobile card acceptance system

22 January 2013  |  8009 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)

Finextra news in your inbox

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

Related stories

Starbucks adds Square readers to menu

Starbucks adds Square readers to menu

04 January 2013  |  12357 views  |  0 comments | 8 tweets | 5 linkedin
Visa and banks tap India's biometric ID system for new account

Visa and banks tap India's biometric ID system for new account

13 December 2012  |  16641 views  |  0 comments | 19 tweets | 17 linkedin
BofA first bank to take on Square

BofA first bank to take on Square

13 November 2012  |  7838 views  |  1 comments | 15 tweets | 8 linkedin
Icici bank and Vodafone partner to launch M-Pesa in India

Icici bank and Vodafone partner to launch M-Pesa in India

08 November 2012  |  11376 views  |  2 comments | 11 tweets | 8 linkedin
India to double ATM numbers to 200,000 by 2016

India to double ATM numbers to 200,000 by 2016

12 October 2012  |  6319 views  |  3 comments
Citi in Indian contactless m-payments trial

Citi in Indian contactless m-payments trial

03 July 2009  |  8244 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit VocaLink.comFind out more

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
8169 views 14 comments | 32 tweets | 37 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7882 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7818 views 3 | 19 tweets | 7 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7610 views comments | 22 tweets | 28 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
7545 views comments | 6 tweets | 3 linkedin

Featured job

Find your next job