ePaisa, an Indian payment processor that offers mobile based cash and card payment applications for small and medium businesses has now included bitcoin as one of the payment options. The Mumbai, India based startup founded in the year 2012 has a wide range of products available in multiple regional languages.
ePaisa’s multi-lingual mobile based POS application offers its solutions in four different Indian regional languages apart from English. These regional languages include Hindi, Marathi, Gujarati and Tamil. By offering bitcoin based payment solutions, ePaisa has now become the first Indian payment processor to include bitcoin into its solutions offering.
Over 500 outlets using ePaisa’s payment solutions in New Delhi, Pune, Mumbai, Surat and Ahmedabad will now accept bitcoin payments. Out of these five cities, the company expects most bitcoin transactions to happen in Mumbai and New Delhi as these two cities, being metros have more foreign as well as domestic population who will be willing to pay with bitcoin.
In order to process bitcoin transactions, ePaisa has tied up with back end bitcoin exchanges. Merchants accepting bitcoin through ePaisa will be able to choose whether they want to convert the received bitcoins into Indian Rupees and transfer to their accounts or hold on to them in their original form.
Siddharth Arora, the co-founder and CEO of ePaisa has stated on Economic Times that there are over 50,000 bitcoin users in India and the Indian bitcoin ecosystem saw over 35,000 bitcoins being traded last year.
Until now, only selected international outlets have been accepting bitcoin payments, but with the introduction of this new feature ePaisa has now made it possible for any small and medium companies to accept bitcoin payments.
ePaisa is now working on including mobile wallet payment options into its payment solution. By adding mobile wallet payments option along with bitcoin payments, the company aims to provide its partner merchants with all available cashless payments options currently out there in the market.