Mswipe Brick-and-Mortar Launch Their Own Website to Compete with Contactless Payments Businesses
Mswipe is adding more advanced financial technology features to support brick and mortar businesses in the e-commerce ecosystem.
The leading fintech and payments services platform has announced adding PayByLink for contactless collections from customers, in addition to launching a free-to-use business website to enable small businesses and proprietors to go live online with their own website within minutes. These will help small local marketing and retail firms take full advantage of fintech capabilities and compete with existing online e-commerce players. Currently, Mswipe is the only fintech startup in India which has a complete range of digital payment solutions for SMEs including UPI QR, NFC based Tap and Pay, POS and Payment Link. Launched in 2011, the fintech startup has since become one of the largest POS acquirers in India with 6.75 lakh POS and 1.1 million QR merchants. Mswipe is also the fastest-growing issuer with its prepaid Moneyback Card.
With online commerce witnessing a spiraling demand from customers, Mswipe will enable SMEs to provide seamless digital experience to customers.
Mswipe launched PayByLink, which can be shared on SMS, WhatsApp or on any social media platform as preferred by the customers to access the digital bill and complete purchase.
Manish Patel, Founder and CEO, Mswipe said, “While the lockdown has impacted the earnings of SMEs, it has also created the opportunity for them to become a part of the digital economy with customers embracing online commerce. Mswipe believes in providing an end-to-end solution to make it easier for SMEs to go digital. With the Microsite and PayByLink, merchants can engage their customers online for product/service discovery, selection and also complete the loop with digital payments. The two offerings, coupled with digital bill and convenience to choose a payment method, will definitely help SMEs provide for their customers’ needs just as other e-commerce players.”
SME merchants and retailers can create their own website through their existing accounts on the Mswipe merchant app by filling in their shop details. They can also quickly add photos and social media links and go live online. To support SMEs in increasing visibility for their online store, Mswipe will also support in Search Engine Optimization (SEO) of their microsites.
Close to a fourth of total transactions facilitated by Mswipe are now done through contactless options including NFC, QR, and its newly launched PayByLink.
Mswipe has also provided PayByLink as a separate offering to SMEs making it the most affordable solution available to initiate business transactions. Merchants can activate the PayByLink in a few simple steps on Mswipe merchant app.
Earlier in August, Mswipe announced Bank Box Go – a combination of mPOS, UPI QR and Moneyback Card – an offering that ushered in the era of zero rental and zero MDR. The company has also recently partnered with MyPinPad, a UK-based secure personal authentication solutions provider and Visa to further to propel contactless payments in India.
Mswipe aims to be India’s largest financial services platform for SMEs and merchants by providing seamless mobile POS and value-added Services. It is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 1.1 million QR merchants across the country. Mswipe offers a host of POS solutions for all types of payment acceptance – cards, wallets, mobile payment apps and bank apps, contactless and QR payments. Headquartered in Mumbai, Mswipe began operations in 2011. Its key investors include B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital.