Ezetap

What Ezetap does

Ezetap is a Bangalore-based payment device maker founded in 2011 that was acquired by Razorpay in August 2022 and now operates as the offline payments arm of India's largest payment aggregator. Its core product is Razorpay POS (formerly branded Ezetap), a portfolio of Android-powered in-store swipe machines — including All-in-One POS, Smart POS with Dock, Android Mini POS, and Smart POS with IR Scanner — alongside QR devices (Growth DQR, Tap & Scan Soundbox, Bharat Soundbox, Signature Soundbox) and a mobile-based DigiPOS layer that converts any tablet or smartphone into a payment terminal. The technology stack combines proprietary hardware with cloud-based payment processing, PCI DSS-compliant infrastructure, AI-Powered Reconciliation, Self-Healing Devices for uptime, and Lightning Checkout that processes UPI payments in 1.5 seconds and card payments in under 15 seconds.

The business model rests on two primary revenue streams: transaction convenience fees of 1-3% per transaction, and monthly hardware rental pricing for POS machines positioned as affordable for SMBs. Distribution combines direct enterprise sales with self-serve SMB onboarding and a partner referral program, while banking infrastructure is delivered through RazorpayX current accounts powered by ICICI, RBL, and Yes Bank. The platform integrates with more than 150 ERP and billing tools and serves verticals including fashion and lifestyle retail, food and grocery, restaurants and QSRs, and electronics retail. At the parent level, Razorpay serves more than 10 million businesses and processes over $150 billion in annual transaction volume; the Ezetap-powered offline segment alone operates approximately 600,000 terminals processing $10-15 billion in annual GMV and contributed approximately Rs 225 crore (~6% of overall revenue) in FY25, with regulatory coverage spanning online, offline, and cross-border payment aggregator licenses from the RBI.

Name

Ezetap

Legal name

Ezetap

Website

https://corp.ezetap.com

Company type

Private

Founded year

2011

Operating status

Acquired

Headcount range

101–250 employees

Short description

Ezetap, founded in 2011 in Bangalore, is a payment device maker acquired by Razorpay in August 2022. Now operating as Razorpay's offline payments arm, it deploys 600,000 POS terminals processing $10-15 billion in annual GMV across Indian retail.

Ownership category

akta.pro rank

Product category

Point-of-Sale Payment Hardware

akta.pro primary industry

POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC)

akta.pro secondary industries

EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG), QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH), In-Store Contactless & NFC Acceptance (Tap-to-Pay, EMV Contactless) (FSAMADAF)

Keywords

• Mobile point-of-sale
• Payment swipe machines
• Merchant payment solutions
• Card acceptance terminals
• Offline payment processing

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Transaction Convenience Fees: Primary revenue stream from transaction convenience fees of 1-3% per transaction. Accounted for approximately 75% of Razorpay's roughly 40% year-over-year revenue growth in fiscal year 2024-2025.
2. Offline POS / Offline Payments: Revenue from Razorpay's offline PoS business (built on Ezetap infrastructure), contributing approximately 6% of overall revenue at approximately Rs 225 crore in FY25. Terminals process $10-15 billion in annual GMV.
3. POS Hardware Rental: POS machines are available on a monthly rental basis, making them affordable for small business owners. The starting cost for monthly rentals is described as easily affordable for SMBs.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Ezetap Mobile Solutions designs, manufactures, and operates mobile point-of-sale (POS) swipe machines and payment devices for merchants. Following its August 2022 acquisition by Razorpay, Ezetap's infrastructure underpins Razorpay POS, which delivers in-store payment acceptance hardware (All-in-One POS, Smart POS, Android Mini POS, IR Scanner POS) and supporting QR/audio confirmation devices (Growth DQR, Tap & Scan Soundbox, Bharat Soundbox, Signature Soundbox), along with payment processing, reconciliation, and digital billing capabilities to retailers across India.

Product overview

Ezetap, acquired by Razorpay in August 2022, operates as the offline payments arm of Razorpay's omnichannel payments platform. The core offering is Razorpay POS (point-of-sale) swipe machines for in-store payments, available in multiple form factors: All-in-One POS, Smart POS with Dock, Android Mini POS, and Smart POS with IR Scanner. The product line extends to QR payment devices including Growth DQR, Tap & Scan Soundbox, Bharat Soundbox, and Signature Soundbox. Supporting services include Billme (digital billing), DigiPOS (mobile POS), EMI financing, Dynamic Currency Conversion, Split Settlement, Self-Healing Devices, and AI Powered Reconciliation. The broader Razorpay ecosystem includes online payment gateway, Smart Collect virtual accounts, and RazorpayX business banking services. The platform integrates with 150+ ERP and billing tools and processes UPI payments in 1.5 seconds and cards in under 15 seconds.

Differentiator

Problem solved

Functional benefit

Products and services

• Razorpay POS (formerly Ezetap) In-store POS swipe machines and point-of-sale payment infrastructure for accepting card and digital payments at physical retail locations. Formerly branded as Ezetap following Razorpay's acquisition.
• All-in-One POS All-in-one POS hardware device that accepts payments, captures loyalty signups, and runs promotional offers from a single unit, designed for fashion and lifestyle retailers.
• Smart POS with Dock High-reliability POS device with docking station supporting every payment method with zero downtime and highest success rate, designed for high-volume retail.
• Android Mini POS Compact, portable Android-powered POS device with 3G, 4G, and Wi-Fi connectivity for seamless payments anywhere, targeted at SMEs and mobile merchants.
• Smart POS with IR Scanner POS device with built-in IR scanner enabling fast checkout experiences with all-day battery life, suited to grocery and high-volume retail.
• Growth DQR QR payment device that displays real-time offers and drives repeat purchases beyond basic payment collection, for SMB and retail use.
• Tap & Scan Soundbox Dual-function device accepting both contactless card payments and QR code payments with audio confirmation, for retailers seeking unified acceptance.
• Bharat Soundbox Rugged, long-lasting payment audio alert device built for Indian retail environments, providing non-stop payment confirmation.
• Signature Soundbox Customizable payment alert soundbox that plays brand-specific chimes for every transaction, helping merchants reinforce brand recall.
• Billme (Digital Billing) Interactive, paperless digital billing solution that turns bills into customer engagement touchpoints for retention and relationship building.
• DigiPOS Software-based POS solution that transforms any tablet or mobile device into a payment terminal, enabling portable POS functionality without dedicated hardware.

Quantifiable outcome

• UPI payments processed in 1.5 seconds, cards in 15 seconds
• +4 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature10 records

Partnerships

Three partnerships are on record, tiered core.

• Curlec (Malaysia)coreStrategic or Co-development Partner · 1 January 2023Razorpay acquired Malaysia-based Curlec in 2023 to expand its operations into Southeast Asia. This strategic acquisition enables Razorpay to offer its digital payments infrastructure to businesses in the Southeast Asian market, extending its geographic footprint beyond India.
• 150+ ERP and Billing ToolscoreTechnology or IntegrationRazorpay POS connects seamlessly with over 150 ERP and billing tools, enabling businesses to integrate POS data directly into their existing workflows and operational systems. These integrations simplify workflows and scale operations for merchants.
• VisacoreTechnology or IntegrationRazorpayX offers a Visa corporate credit card in partnership with Visa. The Razorpay payment platform supports Visa card payments and is PCI DSS compliant.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Worldline (formerly Ingenico): Global payments giant with a major presence in India through terminal hardware and merchant acquiring. Comparable to Ezetap as a POS hardware + acquiring platform, but at much larger global scale.
• Paytm (One97 Communications): India's leading digital payments super-app with a large offline merchant POS and soundbox business alongside its broader wallet, gateway, and banking products. Overlaps with Ezetap on POS hardware but operates across a far wider fintech portfolio.
• Verifone: Global POS terminal hardware and payment acceptance vendor serving large enterprise retailers. Comparable to Ezetap on terminal hardware and omnichannel acceptance, though focused on multi-country enterprise customers.
• Block (Square): Global fintech operating Square POS hardware, software, and seller ecosystem. Comparable to Ezetap on the SMB POS and omnichannel merchant acceptance thesis, though at vastly larger scale and global footprint.
• PhonePe: India's leading UPI-driven payments app with a fast-growing offline merchant acceptance business including QR and soundbox devices. Competes with Ezetap for in-store digital payment volume, particularly in the SMB and merchant-acquiring layers.

Direct peers

• Pine Labs: One of India's largest POS terminal and in-store payment solution providers, serving enterprise retail, F&B, and petrol stations. Directly comparable to Ezetap/Razorpay POS in product portfolio, target customers, and payment-aggregator business model.
• Mswipe Technologies: India-focused POS terminal maker and merchant acquirer serving SMBs and enterprises with Android POS, QR, and soundbox devices. Closely mirrors Ezetap's product mix across hardware swipe machines and value-added software.
• BharatPe: Indian merchant payment and lending fintech operating a large QR-based acceptance network alongside POS terminals. Competes directly with Ezetap for offline merchant relationships and merchant credit opportunities.
• Hitachi Payment Services: India-focused POS terminal manufacturer and payment services provider serving banks, merchants, and ATMs. Direct competitor to Ezetap in POS hardware manufacturing and merchant acquiring services in the Indian market.

Regional players

• SumUp: European-headquartered mobile POS and card-reader provider focused on micro-merchants and SMBs. Comparable to Ezetap on the mPOS / affordable-terminal thesis for small merchants, but does not directly compete in India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ezetap
• Facebookfacebook.com/ezetap
• LinkedInlinkedin.com/company/ezetap-mobile-solutions-pvt-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ezetap