AAA Mswipe swipes funding

Mswipe swipes funding

India-based Mswipe, working with partners Prizm Payment Solutions and Axix Bank, provides merchants with the ability to accept credit and debit card payments using their Android, iOS or other smart phones.

The amount raised was not disclosed.

Matrix previously led an undisclosed series A round  in 2013, while a range of angel investors provided an undisclosed amount in seed funding in 2012.

Manish Patel, founder and managing director of Mswipe, said: “Mswipe enables small and mid-sized merchants to accept regular credit and debit cards on their mobile phones with the same security and speed as conventional point of sale (POS) terminals at a very affordable price point and competitive card interchange fees.“

Within 4 months since going live Mswipe’s POS terminals have been deployed in over 200 cities and towns across India. Today Mswipe it is used by approximately 4,000 merchants across India.

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