Ezetap’s CEO, Abhijit Bose shrugs off the recent trip made by Tim Cook, the CEO of Apple to India. His concern or worry is not about the fact that the American smartphone may be moving into the space of his business of mobile payments. He even went on to say that he will pick up any CEO of the Silicon Valley from the airport and drive them wherever they want. Bose’s company that is based in Bangalore is said to be on track with a yearly business transaction of $1 billion.
For every citizen, a biometric digital ID that is sophisticated has been issued to them. They also have around 900 million users of mobile phones. For mobile financial services providers, India is said to be very attractive towards them. Bangalore’s market research firm named GrowthPraxis released a report recently where it stated that in comparison to 2012’s $90 million, the mobile enabled payment users in India went up in 2015 to $1.4 billion. The number of new bank accounts that was opened in the past two years showed a count of more than 200 million people, this is equal to the total number of U.S. households. In India, it is said that the total number of people who have access to the broadband internet is said to be around 250 million users.
In the Indian Market, after years of anticipation, payments made through the mobile phone have finally taken off. Another thing that has become more of a common place is the cellphone networks that offer a high speed of 4GB. This was what Amit Goel, GrowthPraxis’s co‐founder and LTP’s managing director which is a research site for financial technology had to say. The benefits that Ezetap has seen from the explosion of various consumers connect that offer a payment system which is end to end is vast. This also includes various points of sale terminals that can also be plugged into smartphone’s like its own Square.
