Payments

mPOS Firm EzeTap Raises Funds via American Express, Just a Month after $8 Mn Round

Last month, we had written about Ezetap’s successful Series B round of funding that led the company to raise $8 Million through Helion Advisors, Social+Capital and Berggruen Holdings. Yesterday (20th March, 2014), Ezetap announced that they had had raised an undisclosed amount in funding via American Express.

“This investment will allow us to turn on additional value added services such as loyalty and rewards that will delight users and change the entire payment experience for end consumers,” said CEO and Co-Founder of Ezetap, Abhijit Bose. “"It is a validation about what we are doing and the potential of the market," he added.

  • Ezetap's payment solution for merchants includes a card reader which can connect to mobile devices via Bluetooth or USB as well as a mobile app. 
  • With the new deal, merchants in India can activate American Express on new or existing Ezetap devices by signing up through American Express' sales team or directly from Ezetap. 
  • Ezetap’s device - a card reader and chip, costs around $50. 

How does it Work?

ezetap1

Ezetap works with leading ecommerce companies, bill payments and collections fims, insurance, FMCG, restaurants and hospitality, retail and taxi services has deployed over 12,000 devices across South East Asia and Africa. The company counts Myntra, Bookmyshow, Reliance, Ola, Bajaj, Temple Tree, BigBasket.com and Redbus among its customers. Ezetap says that it expects to cross 100,000 devices in the next 12 months.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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