[Product roadmap] Ezetap started with a single funds providing and determined to pivot to a SaaS mannequin

Posted On Mar 6, 2020 By admin With Comments Off

India has over the years transitioned from a cash-based, opaque economy to a digital and transparent one, leading to a surge in the growth of the fintech sector. And startups like Bengaluru-based smart pays provider Ezetap are leading the way to make India the hotbed of monetary transformation.

Founded in 2011 by Abhijit Bose and Bhaktha Keshavachar, Ezetap parts in the mobile Point-of-Sale( mPoS) market, and has since then diversified into integrating that remittance event with other software applications and organizations used by merchants.

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It continues to work towards its vision:” to be the single mixture through which ventures end any business transaction with their customers, subsidizing every instrument and method that their purchasers want to use .”

At a experience when PoS companionships earn money through event costs, Ezetap has moved remittances to a Software-as-a-Service business model, allowing merchants to accept digital events from physical posters, online remittances, and portable billfolds through a single clink via UPI.

The omnichannel pays pulpit has end-to-end capabilities to handle digital payment processing through integrated software solutions. Through a SaaS payments plan, the startup has changed the pay processes of brick-and-mortar retailers, e-commerce players, initiatives, governmental agencies and business inclusion organisations. Built-in services include reconciliation, EMI, loyalty, symbol volunteers, cashbacks, and dynamic currency conversion.

” It has a routing seam, powered with some intelligence, which helps users work with the bank of their choice. The real differentiator is that Ezetap is agnostic of device, site, pay species and fee spouses so we can work with any design across employment cases and form parts ,” said Bhaskar Chatterjee, Head of Make at Ezetap.The firstly prototype

At the beginning of the decade, access to the internet and smartphones was becoming pervasive across India. The fintech startup attended an opportunity to enable adoption of remittances in India.

Ecommerce was growing by leaps and bounds, and Ezetap was one of the first companies in India that tried to convert COD shipments into digital fees- this was one of the first utilization cases where Ezetap was deployed in 2013.

Ezetap

Bhaskar Chatterjee, Head of Product at Ezetap.

In a communication with YourStory, Bhaskar Chatterjee said,

” We constructed an EMV-compliant payment device that have been able to make pays in conjunction with a commercially available smartphone and a card reader designed and assembled in India. We also made support payments SDK that would work behind a company app, disguising the intricacy and compliance rigmarole of pays behind the’ repay’ button .”

The co-founders of Ezetap, Abhijit and Bhaktha, who had experience in pays and equipment companies, blended their skills and knowledge to create this product.

The startup iterated on the first motifs of the MPoS card reader, which worked via a smartphone’s audio jack. Later explanations involved working with Bluetooth; the last version, v3, was then successfully deployed across India. V3 had a Bluetooth and a Wi-Fi capability because of which patronize owneds were able to accept payments by connecting the V3 device with the accessible Wi-Fi connection.

Bhaskar said,

” Hardware revises were done in parallel, and Ezetap built a robust pays stage to complement hardware abilities. This programme was scalable, services-based, and designed to be integrated into diverse IT ecosystems .”

All the components in Ezetap& apos; s stack were built on a services-based architecture that allowed for factors to be added on top, and cloud-based architecture to ensure scalability.

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The mPoS copies directed successfully in the market for about five years. The first product was workable and met an important demand in world markets. Later accounts improved upon the first produce, in terms of usability and performance.

In 2018, the startup decided to stop assembling and inventing their own inventions in India and moved to sourcing them from marketers abroad. By then, the economics provided by third-party sourcing had become more favourable.

The product head said the requirement to build more building arose from” an ever-evolving demand to deliver the best-in-class payment experience to customers “.

As Ezetap started diversifying into different industry segments, the team noticed the need to be able to support enterprise-class integrations- especially when is collaborating with one of the most important one deployments of Airtel.

And as it entered the world of retail deployments, Ezetap had to support affordability, loyalty, and customer motivation solutions.

” The Indian fintech ecosystem was exploding at the same time and invention was happening with wallets, UPI, and others. The need to create a platform was felt so we could address diverse needs across industries with common structures of integration and solutions ,” Bhaskar said.Growth learnings

All the core technology was built in-house for both the hardware and software aspects of the business. Over time, the startup put together an engineering team to work on the part payments stack. The team managed everything – from the firmware on the manoeuvre to the backend server architecture and the bank integration.

The Ezetap staff jaunted with ecommerce transmission agents on motorcycles to the residencies of end consumers to get real, “follow-me-home” feedback. Same feedback loops-the-loops were was participating in other industry segments like telecom, insurance, collects , among others.

All acquired feedback was incorporated into training programmes for users, usability improvements, logistics feedback for transmission centres, and advice on incentive programmes for app users.

Bhaskar said,

“Fundamentally, we were always looking for structures that would repeat across manufacture segments or consolidations. When we examined a utilize action structure, we tried to productise that decoration and make it repeatable very quickly .”

( Edited by Teja Lele Desai)

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