Axis Bank has announced the launch of Swipeon, a mobile phone based card acceptance service in association with Prizm Payments and Mswipe Technologies. The service will convert any mobile phone into a card acceptance device by simply attaching the Mswipe card reader to the phone.
Jairam Sridharan, Head Consumer Lending & Payments, Axis Bank, said, “If India wants to move towards a cashless economy, it is imperative that small establishments, home delivery and cash on delivery agents, taxis and autos are able to accept card payments on the move. Axis Bank is proud to introduce this latest technology of Mobile Pcard acceptance in the country through Swipeon. Through this, our user can accept card payment through mobile phones in a secure environment with two layers of encryption.”
Mobile based card acceptance is expected to benefit merchants with home delivery services, cash-on-delivery agents, taxi drivers and others as they can easily accept card payments on the go, with very small investments on their part. Swipeon will eliminate all the costs associated with cash handling like loss, theft, accounting delay etc. It includes a card reader attached to a mobile phone which works as a POS terminal, and the customer is sent a receipt of the transaction via SMS or Email. The service can be delivered through any mobile phone be it a feature phone or a smartphone (Android & iOS).
Manish Patel MD, Mswiptech Technologies, said, “The Mswipe card reader provides a simple, inexpensive and innovative solution for everyone from cab drivers to delivery guys. It is a mobile POS device that requires only a mobile phone with a GPRS connection to securely process card transactions.”