This Indian Startup helps you Pay Using Mobile Phone Card Reader


and also be integrated with the businesses back-end system, thereby making the process very efficient," said Muge Yuzuak, country head, cards and personal loans, Citibank India.

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This device is ready to use with an android phone when connected along with the necessary app or the merchants also have the liberty to develop a special app for this gadget. "The device complies with the securities standards prescribed by the Payment Card Industry Security Standards Council. We have also got the necessary approvals from the Reserve Bank of India for card transactions through this mobile payment solution," Said Yuzuak. "The mobile card reader does everything that a current POS terminal provides and is competitively priced. The transaction costs are the same for the merchant. But to what extent it would replace POS terminals would depend on each bank's strategy. One must recognize that any form of behavioral change in the market place is always gradual," Yuzuak added.

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