Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

SPIRE PAYMENTS, IN PARTNERSHIP WITH WIRECARD, DEPLOYS INDIA’S FIRST CHIP AND PIN MPOS SOLUTION IN THE CHENNAI AREA, PROMOTED BY BIJLIPAY FOR INDIAN OVERSEAS BANK

Spire Payments continues its rapid growth in the mobile payments sector by supplying over 7,500 PosMatetm Smart chip and PIN mPOS devices to Indian Overseas Bank (IOB) in the Chennai area of India. This will be the first phase of an aggressive roll-out plan aimed at the micro merchant sector which has previously never accepted card payments. The vast majority of the initial deployment will be aimed at taxi drivers.

Bijlipay, an innovative payments company also based in Chennai, selected the Spire Payments PosMatetm Smart mPOS device from which to launch its low-cost card acceptance platform. Wirecard has developed the mobile payment application residing on the customer’s Android smartphone which securely passes transaction information from the PosMatetm Smart to its own processing platform and subsequently links to IOB’s acquiring infrastructure. Bijlipay provides merchant boarding, hardware provision, daily settlement, and helpdesk services.

SPIRE PAYMENTS, In Partnership With WIRECARD, Deploys India’s First Chip And PIN MPOS Solution In The Chennai Area, Promoted By BIJLIPAY For INDIAN OVERSEAS BANK
SPIRE PAYMENTS, In Partnership With WIRECARD, Deploys India’s First Chip And PIN MPOS Solution In The Chennai Area, Promoted By BIJLIPAY For INDIAN OVERSEAS BANK

IOB has seen its business more than double over the last four years. Such growth has been partly due to its adoption of technology innovation within India, making mPOS a perfect fit in its continuing expansion plans. IOB has in excess of 3,000 domestic branches in which to promote the Bijlipay mPOS proposition.

Wirecard AG is a global financial services and technology company providing payment processing, card issuing and risk management services to more than 17,000 corporate clients worldwide. The combination of Wirecard’s capabilities and Spire Payments’ significant experience within the mPOS sector has resulted in a proposition meeting the needs of the demanding Indian market.

The PosMatetm Smart – the world’s first certified chip and PIN mPOS solution – is deployed in over a dozen live estates globally. It is designed for merchants wishing to accept secure card payments in a mobile environment. The pocket-sized device accepts both chip and PIN and magnetic card transactions. Compatible with Android, iOS, Blackberry and Windows Mobile operating systems it can interface with smartphones, tablets or PDAs, and operates in both online and offline chip and PIN configurations. To ensure maximum security the PosMatetm Smart meets the highest industry security requirements: PCI PED and SRED. Personalisation of the device is undertaken within a card scheme approved facility.

Kazem Aminaee, CEO and President of Spire Payments commented, “Spire Payments is delighted to have been selected by Bijlipay and IOB bank to provide the region’s first mPOS solution. Working closely with partners such as Wirecard and Bijlipay is key to our rapid expansion plans in this market sector, which continue to go from strength to strength. ”