The Merchant of Online Retail Payment Solutions

Nambisan looks to invest in product, marketing and sales to further growth

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Early this year, Byas Nambisan, co-founder and CEO, Ezetap was elevated as co-founder. He was already serving as the CEO since 2019.

Ezetap is a leading payments player in the BNPL segment for merchants that offers safe and flexible payment solutions.

On his fintech's offerings, he says, "We see an opportunity in the space of merchantsspecifically, where we can provide them the latest payment acceptance bots, and also solve problems around billing,customer outreach, loyalty,credit andaddress a lot of other pain points. Our bank partnerswill continue to be big players in the space, but they are not equipped to move fast. So again, we see us as nimble, fast andcapable of helping our bank partners, as well as our merchants to adopt the latest solutions that will enable their business or the bank to provide the best service to the merchant."

Speaking about their USP, Nambisan says, "We pride ourselves on our innovation, nimbleness and service. We are the only POS provider who is completely device-agnostic, we have solutionsin the MPOS market, we can provide, small MPOS device, device-less solutions, kiosk solutions and counter solutions."

As regards the tech code, "We have the capability to create payment apps within the existing business flows and can have customer-specific branding, in less than a day, to configure the design to deploy cycle. We are the first in the industry to create an SDK in India, for apps to integrate into payments system.We broke new ground by offering Android POS in the Indian market. Our platform is built on microservices, enabling us to serve a wide array of clients, including government and enterprise merchants," says Bhaskar Chatterjee, Vice President, Product Management, Ezetap.

Another factor that probably sparks innovation is the democratic work culture at Ezetap says Nambisan, "We have an open, non-hierarchical culture, where anybody can go, setup time with anyone including me, discuss their ideas or challenge the way we do things. I want everybody to be able to speak up."

Sharing his experience of working in a highly regulated business, Nambisan mentions two interesting viewpoints. He says, "It's an interesting journey. When you work in a non-regulated sector, the changes are either driven by the market or your competition."

"When you work in the government sector, you have this third player, which is the government and they can have a dramatic influence, in both good and bad ways. In some cases, some companies have their entire business model thrown out overnight.On the good side, they have been very progressive; have enabled payment solutions, like our UPI. In this specific case, I have seen as many positives, if not, more positives than negatives. But, it has been bold."

On his learnings from building a fintech, says Nambisan, "You just have to stick with it through the ups and downs. Things that you expect to happen at a pace (raised hand)when you start, you may actually be going down like this (lowered hand). You got to have the patience to see it through and have confidence in where you want to go, and it will eventuallygo back up."

On their expansion plans, he says, "We think we can take a market share in sectors where we don't have a big share yet. For this, we need our own larger sales force and increase our marketing.We are increasing our investments on our sales, product andthe marketing side."

He is looking to raise USD 25-30 million in primary and 50-60 million through a global round.

Also on the anvil is the release of an online payment solution for kirana and mom-n-pop stores. He says, "Our product is essentially ready. We are trying to refine the user experienceand we should see the phased deployment probably in the next few months."

Factsheet

Amount of funding received - $51M

Year of inception - 2011

Number of employees - 270

No. of touchpoints – 4 lakh touchpoints