Get All Access for $5/mo

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

News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.


I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.