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Kotak ties up with Ezetap to provide integrated PoS solutions for merchants

Posted On : 2022-02-18 14:52:55( TIMEZONE : IST )

Kotak ties up with Ezetap to provide integrated PoS solutions for merchants

Kotak Mahindra Bank Ltd (KMBL), the country's third largest private sector bank, has partnered with Ezetap to provide integrated Point of Sale (PoS) solutions across 4,000 locations in India. The initiative will further strengthen the Bank's presence in the digital payments market space.

Through this association, Ezetap's integrated and customised Point of Sale (PoS) solutions will benefit scores of KMBL's merchants in retail business spread across the country. It will give retail customers a way to pay through cards and digital modes across all touchpoints in the purchase journey whether at the counter in-store or paying on delivery. The enterprise and government customers of KMBL will enjoy all the benefits of Ezetap's deep-tech integration and customised solutions.

PoS machines or Point of Sale device is an electronic device used by retail merchants like grocery or apparel stores or pharmacies or any other category of retail business to collect payments against the goods and services rendered through non-cash modes like debit and credit cards, QR or even SMS to customer to pay using a link. This partnership will enable KMBL to scale up its PoS product base across merchant segments, including retail enterprises and government customers, which service lakhs of customers on a daily basis.

Thakur Bhaskar, Senior Executive Vice President & Head - Liability Products and Merchant Acquiring, Kotak Mahindra Bank said, "At a time when the digital payments market is growing at a scorching pace in the backdrop of the pandemic, our association with Ezetap will benefit the customers and merchants using our PoS products. With customers mostly preferring to pay through card or digitally through their apps over cash at shops and retail enterprises for buying products, Ezetap's integrated solution will enable our merchants to avail various value-added services through our PoS product."

Byas Nambisan, Chief Executive Officer, Ezetap, said, "Payments are critical to every business and there was a strong need for a flexible platform with built-in value-added features that addresses operational and cost requirements of various merchant segments. The consolidated and enhanced solution that Ezetap provides, really works towards equipping merchants with all the tools they need to grow their business. With training and support also being built into the app itself, it's a seamless solution that Kotak Mahindra's customers can now avail."

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1818.25 as compared to the previous close of Rs. 1828.70. The total number of shares traded during the day was 76428 in over 3908 trades.

The stock hit an intraday high of Rs. 1842.70 and intraday low of 1810.30. The net turnover during the day was Rs. 139854244.00.

Source : Equity Bulls


KotakMahindraBank INE237A01028 KOTAKBANK Ezetap PoSSolutions