User:Logic Nitin/sandbox

Mswipe is an Indian company headquartered in Mumbai, that develops point of sale- POS terminals and is a POS network provider for merchants. The mobile POS and smart POS consist of mobile applications, payment gateway, automated payment settlement for SMEs and retail segments like restaurants, supermarkets, wholesalers etc.

The company has a wide range of products like wireless, compact, and portable device - Wisepad which is equipped to accept all kinds of cards like Visa, Rupay, American Express. It also accepts digital payments from applications such as BHIM, UPI, Phone Pay, Google Pay. It works in the conventional phone, smartphone, tablet and PC.

History
Established in 2011, Mswipe was founded by Mr. Manish Patel. By 2013, Mswipe launched its POS solutions and Wisepad-classic. In early 2018, POS loans was launched. The company then rolled out its smart POS device in 2019.

Mswipe Funding & Investment
Mswipe plans to have 1.5 million merchants on its platform by the end of 2019-20 financial year from the current base of over 400,000 merchants. In the year 2017, B capital, a company owned by Eduardo Saverin, co-founder of Facebook invested $10 million on Mswipe. The company also raised $31 million in funding from Ratan Tata’s UC-RNT Fund. In 2019, it has raised Rs 220 crore from existing investors. Other big investors include Falcon Edge, DSG Consumer Partners, Epiq Capital.

Acquisition
In 2017, The Mumbai based POS solution provider, Mswipe has acquired the POS division of online payment firm PayU India. Mswipe has taken over the offline merchant acquiring the business of PayU India. This enabled merchants using Mswipe to avail online payment services offered by PayU India.

POS & MPOS Machine
In the Indian POS terminal market, which is pegged to reach $450 Mn at a CAGR of over 10% from 2017 to 2024, Mswipe continues to be one of the major players against newbies such as Pine Labs, Ezetap etc.