Addressing all the complexities faced by small businesses associated with business payments, Mswipe will power all SME customers of Karnataka Bank with its newly launched android-based POS device, WisePOS Go to streamline their business management.
A first-of-its-kind POS machine in India, WisePOS Go is a compact, light-weight and easy-to-use device that will help small business owners improve mobility by integrating payments with business applications in one single device.
A leading end-to-end digital enabler for MSMEs, Mswipe introduced WisePOS Go at a time when most businesses are using separate devices for accepting payments. This low-cost, easy-to-use, with advanced NFC, and QR code device works across platforms and has connectivity options, making it suitable for small business owners. Karnataka Bank customers will be able to integrate apps on the same POS device from Mswipe’s MoneyStore (a curated app preloaded on Mswipe’s smart POS terminals) and reap the benefits from multiple payment solution apps and value-added services on the same device.
Mswipe’s Chief Executive Officer, Mr. Ketan Patel said, “We are happy to develop this product for Karnataka Bank’s MSME customers which will simplify their payment processes. The introduction of ‘WisePOSGo’ is yet another step in the direction of expanding the digital payment infrastructure in the country and promote a cashless economy.”
Mr. Mahabaleshwara M S, Managing Director & CEO of Karnataka Bank said, “This is yet another product in line with our vision of becoming the ‘Digital Bank of Future’. Mswipe’s compact, light-weight and user friendly device will be a game changer and transform the digital payment ecosystem associated with POS machines. By integrating payments with business applications in one single device, small business establishments will benefit by having an agile and conducive platform to source business. The ease of processing transactions through ‘WisePOSGo’ will help the Bank’s retail and MSME customers to augment their businesses by providing their consumers a convenient and flexible way of shopping”.
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Mswipe aims to be India’s largest financial services platform for SMEs by providing seamless, omnichannel digital payments and other value-added financial 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 payment acceptance services for SME’s enabling them to accept – 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.
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Karnataka Bank Limited, a leading ‘A’ Class Scheduled Commercial Bank in India, was incorporated in 1924 at Mangaluru, Karnataka. The Bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India. Over the years, the Bank grew with the merger of Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka.
With over 9 decades of experience at the forefront of providing professional banking services and quality customer service, it now has a national presence with a network of 858 branches spread across 22 states and 2 Union Territories. It is managed by a dedicated & professional management team, having over 8,220 employees, 1,46,000 shareholders and over 10.21 million customers. With a mission to be a technology savvy, customer centric progressive bank, driven by the highest standards of corporate governance and guided by sound ethical values, it has today emerged as a leading financial service institution in India.
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