Payments software provider Ezetap says an agreement with Pax Global Technology Ltd. will bring "hundreds of thousands" of mobile and mini point-of-sale terminals to India as the country lessens its use of cash.
Bangalore-based Ezetap launched its service in 2011 and unveiled its "universal wallet acceptance" solution in India in 2015, establishing itself in the country.
The agreement brings the Pax mPOS and Mini POS terminals into India. Hong Kong-based Pax has had similar mass deployments in Brazil, East Africa and Europe.
"India is shifting rapidly from a relatively opaque cash-based economy to one that is increasingly cashless," Abhijit Bose, co-founder and CEO of Ezetap, stated in a Dec. 29 press release.
Last month, India's regulators pulled high-denomination cash notes out of circulation in the country as a measure to combat tax fraud and money laundering.
Designed as electronic fund transfer POS terminals, the Pax products represent "paperless" terminals with full Near Field Communication support for contactless payments and connectivity options for GPRS, 3G and 4G.
Ezetap says its software was the first to be incorporated into a sub-$50 mobile POS device, and is capable of integrating with every form of physical or online payments.
"Ezetap has been a leading innovator in India's increasingly digitized economy," Latha Pryadarshini, country manager for Pax in India, said in the release. "By partnering with Pax, it will bring to India immense synergy between Ezetap's payment solution capabilities and the world-class manufacturing ability of Pax."