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TheStreet Open House

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)

Stocks in this article: MA

At Mobile 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 Eze ...

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.”

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