Yeldi Softcom launches 'AraeTap' for cashless transcations

CHENNAI: Yeldi Softcom Private Limited, a component of Yeldi Group that focuses on tower solutions for infrastructure for telecom industries today launched its product for enabling cashless transactions - ' araeTap.'

Launching the product,company CEO A Lakshmideepa said the product has immense potential in the Indian market, which has seenover 82 per cent of teledensity with over 76 crore mobile users.

Yeldi's ara eTap is based on NFC (Near Field Communication) technology which enables mobile users conduct cashless transactions with their handsets, she said.

The customer can buy an ara eTap, which is a tag, use the secret PIN given to him/her and can transact across all major product and service outlets as e Tap would be operational in many places very soon, company chairman Ra Arjunamurthy said.

"Ara e Tap is planning a pan India roll out within the next six months. We are also planning to distribute three lakh phones to merchants by the end of 2012," he said.