Here's How These Entrepreneurs Swiped Away the Payment Problems in India Mswipe, the mobile point-of-sale solutions company, has led the way for entrepreneurled businesses in disrupting the merchant side of the payment ecosystem.

By Sandeep Soni

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.



Mswipe, the mobile point-of-sale solutions company, has led the way for entrepreneur led businesses in disrupting the merchant side of the payment ecosystem. Founded by Manish Patel in 2012, it is also among the few Indian technology companies backed by Facebook co-founder Eduardo Saverin's B Capital. The problem for small merchants in India has been of their inability to accept card-based electronic payments even as banks being the natural custodians in the payment business had failed to innovate to solve that problem. "I don't blame banks as they aren't technology companies. So they could never address this problem. Whether it was wireless terminals and terminals customized for India, the space was open for disruption and we did that," says Patel. While the new payment technologies have given options for users and merchants to choose from in payment acceptance such as UPI, Aadhaar, wallet etc., the problem of ensuring frictionless payments will take a long time in smoothening out. So the bottom line remains how a company enables frictionless transfer of money from one individual to another or one individual to a business or vice versa. That's the reason why Patel sees the new age solutions to be any different than cards. "Card is the most frictionless payment method and I don't think the new mobile-based payment channels are less frictionless than cards. They are just an additional learning curve for users.


LAUNCH: August 2012 in Mumbai

MERCHANTS: 3 lakh; 15k new merchants monthly

TRANSACTION: Rs 1,000 crore worth transactions processed


Sandeep Soni

Former Features Editor

Related Topics

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs


International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

Growing a Business

Expand Your Knowledge and Unlock Success With These Must-Read Business Books

Top business books to ignite your entrepreneurial journey.

Health & Wellness

How Taking Up Boxing Transformed My Outlook on Entrepreneurship

Few things have taught me more about entrepreneurship than getting into boxing. Here are the three most important lessons I've learned from my time in the ring.

Business News

A Former Disney Star Just Launched a Space Startup With $6.3 Million in Seed Funding. Here's Why She Did It.

Bridgit Mendler co-founded Northwood Space to bring data from space reliably down to Earth.