Spire Payments has partnered with Wirecard to deploy India’s first chip and PIN mobile point of sale (mPOS) solution in the Chennai area, promoted by Bijlipay for Indian Overseas Bank (IOB).
Spire is supplying over 7,500 PosMate Smart chip and PIN mPOS devices to IOB in Chennai, as the first phase of an aggressive roll-out plan aimed at the micro merchant sector which has previously never accepted card payments. Most of the initial deployment will be aimed at taxi drivers.
IOB’s business has more than doubled over the past four years, helped by its adoption of technology innovation within India. The Bijlipay mPOS proposition will be promoted via its network of more than 3,000 domestic branches.
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