Mswipe Technologies Private Limited, a Mumbai, India-based mobile POS device and services provider, received an investment of undisclosed amount.
The round was led by Matrix Partners India.
Led by Manish Patel, Founder and Managing Director, Mswipe enables small and mid-sized merchants to accept regular credit and debit cards on their their Android, iOS phones. The POS solution is comprised of mobile application on multiple mobile platforms, payment gateway and encrypted card reader. In 4 months since going live, the company’s POS terminals have been deployed in over 200 cities and towns across India by 4,000 brick and mortar stores, insurance agents, home delivery services providers etc.
To provide the card acceptance service, Mswipe has partnered with Prizm Payment Solutions Private Ltd. and Axis Bank. The company currently employs 40 people and has a pan-India direct sales agent network to provide after sales support to its customers.