The Indian Wire » Startups » Mumbai-based Mswipe unveils new app ‘Money Store’ for Point-of-sale devices

Mumbai-based Mswipe unveils new app ‘Money Store’ for Point-of-sale devices

mswipe technologies

Mswipe, a Mumbai-based payments startup, has launched an app store ‘Money Store‘ for Point-of-sale (PoS) devices, with a vision to extend the utility of PoS terminals beyond just payments.

The app store will provide merchants one-click access to a wide range of curated productivity apps from several developers like GoFrugalePaisa, Logosoft, Logic ERP and others.

“We are excited to launch an app store for PoS devices in India. Automation can be a game changer for SME merchants. The Money Store, with its best-in-class productivity apps, will enable our customers to increasingly use their PoS terminals for activities like sales, purchases, inventory management, purchase of goods, etc. besides accepting all types of payments,” Manish Patel, founder and CEO of Mswipe, said.

Mswipe was founded by Manish Patel in 2011. It is a mPOS network provider, which enables small and medium-sized enterprises to enable card-based payments through their mobile devices, as well as provides other ancillary services.

Currently, the app store has over 100 apps already, and comes bundled with Mswipe’s Android-based smart terminals. The company plans to deploy over 200 apps on the Money Store by this fiscal year.

Further, the productivity apps will enable merchants to do away with the cost and space required to run a computer-based billing and inventory solution.

These stores will now be able to operate PoS terminals that offer billing, inventory management, and customer management capabilities in an easy to use interface and zero maintenance.

In March 2019, Mswipe Technologies raised Rs 219.8 crore in a new round of funding from US-based hedge fund Falcon Edge, Facebook Co-founder Eduardo Saverin’s B Capital Asia, late-stage technology investment firm Epiq Capital, and consumer-focused fund DSG Consumer Partners.

While, apart from mswipe, other startups in the similar category includes ezetap, epaisa, ftcash, mosambee, Mobiswipe, Square and others.

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