MobiSwipe

paymentspos/mobile pos

STATUS: Acquired/Merged
FOUNDING YEAR: 2012
LOCATION: India
Last Update: 17/07/2020

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About

MobiSwipe is the most convenient Mobile Payment Service that enables Merchants to Accept Credit & Debit Card Payments Anywhere & Anytime. Current Merchant Pain Points - eCommerce & Door-step Payment Collection Companies like Utility Bill Payment, etc. work with Logistics Partners and accept Payments on Delivery (80%+) and it takes 2 - 3 weekss time for getting the payment from Logistics Partners - COD Return Stock Rate is 40% and Stock Returns takes in 1-2 weeks - Existing POS Systems (EDC Systems) are stand alone and requires Manual Capturing & Data Entry for each transaction against Merchants Invoice Details - No Option for eCommerce Customers to choose Card-On-Delivery

MEDICI Analysis

MobiSwipe is a Mobile Payment platform that enables merchants to accept credit & debit card payments by using their mobile phone that gets connected to EMV Certified Card Reader via Bluetooth. MobiSwipe MPOS & MPAY is a mobile payment solution which gets seamlessly integrated with merchant's existing POS back-end database and enables Instant updates for each transaction and simultaneously gets connected with bank's server to authenticate & authorize each transaction.

Focus

PRODUCTS & SERVICES

MobiSwipe MPOS and Tablet POS, Card reader It helps customers to make cash less payments at point of sale. It also helps merchant to increase the sales and expand customer database.

REVENUE MODEL

Mobiswipe does not charge a rental from merchants but levy a transaction fee, which vary from merchant to merchant depending on the volume and value of the transactions.

EXISTING PARTNERSHIPS

Partnered with Corporation Bank

COMMENT

The new chip-and-pin mPOS based service that allows merchants to turn their smartphone or tablet into a mobile point of sale through a pin-enabled card reader device and a mobile app. It accepts multiple card payments, including chip-and-magnetic stripe cards.

People

FOUNDERS

Suresh Santhana Ramakrishnan

Harmeet Singh Arora

NUMBER OF EMPLOYEES

11-50

INVESTORS:

One97 Communications

One97 Mobility Fund

Momentum

FUNDED

NO

DATE OF LAST FUNDING

Nov 2012

SEED CLOSED ON

Nov 2012

LISTED

NO

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