World Congress, MasterCard
in collaboration with Equity
Bank announced the introduction of Mobile Point of Sale (MPOS)
technology to Kenya. MasterCard and Equity Bank have partnered with Ezetap,
one of the leading MPOS providers to introduce this service.
MasterCard's CEO Ajay Banga participates in an Ezetap demonstration. MasterCard, Equity Bank and Ezetap are collaborating to introduce MPOS technology to Kenya. (Photo: Business Wire)
Daniel Monehin, division president, MasterCard Sub-Saharan Africa
commented, “Our collaboration with Equity Bank and Ezetap to introduce
this innovative technology to Kenya will help businesses and retailers
boost sales through broadened acceptance. The MasterCard MPOS solution
will allow Kenyan retailers who previously operated on a
cash-only-basis, to use mobile phones as point of sale (POS) terminals
and accept electronic payments.”
This initial MPOS pilot project, which was first announced on 15 January
as part of the strategic alliance between Equity Bank and MasterCard to
issue 5 million cards, will be targeted at selected merchant retail
outlets. This will give Equity Bank the necessary data to implement a
more in-depth countrywide roll-out of the Ezetap MPOS solution.
The Ezetap solution has been operational in India for several months. It
consists of a lightweight and robust device that can be plugged into
smart phones and tablets. The solution is compliant with the Payment
Card Industry Data Security Standard (PCIDSS) and the Payment
Application Data Security Standard (PADSS) global security standards.
“MPOS has the potential to transform payments in emerging markets.
However, our experience in other markets has shown that technology is
only half the battle,” said Abhijit Bose, CEO of Ezetap. “To be fully
successful, you need a strong set of partners, like MasterCard and
Equity Bank, who truly understand the needs and concerns of the local
merchants and consumers.”
Merchants with transaction volumes of less than US$100,000 are able to
revolutionize their businesses with the adoption of this technology.
Small merchants in Kenya are taking the lead on the African continent in
adopting technologies that provides low-cost flexible payment solutions.
Until now, small merchants have not been able to offer the convenience
and security of cashless payments to their customers, but this pilot
project, and the technology that supports it, will eventually extend the
benefits of electronic payments to all Kenyan merchants and citizens.
“We are thrilled to be working with MasterCard and Ezetap in our drive
to offer inclusive, customer-focused financial services,” said Dr James
Mwangi, MD and CEO of Equity Bank. “MasterCard has an established global
reputation as an innovative, reliable payments technology provider, and
we are looking forward to building on our long standing relationship and
pioneering the introduction of MPOS to Kenyan businesses.”
The MPOS solution from Ezetap includes three components: A mobile phone,
the MPOS card reader payment application and the Ezetap MPOS Card Reader
that plugs into the mobile handset. The card reader allows the retailer
to swipe debit, credit or prepaid cards. The quick, easy and safe
payment solution is inexpensive to deploy, and offers the safety and
convenience of cashless transactions.
MPOS technology will assist in eliminating fraud in Kenya. Equity Bank
will work closely with the chosen retailers in the pilot project to
educate sales staff on how to correctly utilize the MPOS technology.
Retailers who retain the card until the transaction is completed, check
card security features and obtain authorization will avoid becoming a
victim of criminal behavior, closely linked to cash transactions.
Find a complete list of MasterCard’s news announcements from Mobile
World Congress in our Digital
Press Kit and follow us @MasterCardNews #MWCashless
#MAMobileSymp to join the conversation.
is a technology company in the global payments industry. We operate the
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financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
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About Equity Bank
Bank is an all-inclusive financial services provider with
a growing pan-African footprint. Listed on the Nairobi Securities
Exchange (NSE: EQTY) and Uganda Securities Exchange (USE: EBL) and with
over 8 million customers spread across five East African markets, we
have grown from humble beginnings as a provider of mortgage financing to
Kenya’s low income population to Africa’s biggest bank by customer base.
Our vision is “to be the champion of the socio-economic prosperity of
the people of Africa,” a vision we continue to pursue through a business
model that is anchored on access, convenience and flexibility for our
Ezetap is a Mobile-based Payments service provider for emerging markets
based in Bangalore, India. The company was co-founded in 2011 by CEO
Abhijit Bose, CTO Bhaktha Kesavachar, and mobile payments pioneer Sanjay
Swamy who serves as the company’s Chairman. The Ezetap service is
PCI-DSS compliant and has been certified by multiple leading financial
institutions. In addition to Kenya, Ezetap is the leading MPOS provider
in India and has been live since early 2012. Ezetap is funded by
top-tier investors including the Social Capital Partnership which is led
by ex-Facebook executive Chamath Palihapitiya and Angelprime, one of
India’s leading incubators.
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