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OMA Emirates acquires Indian mobile payment solutions company MobiSwipe

14-February-2017
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OMA Emirates acquires Indian mobile payment solutions company MobiSwipe

Leading United Arab Emirates (UAE) payments solutions provider OMA Emirates today announced the acquisition of mobile payment solutions company MobiSwipe Technologies. MobiSwipe enables merchants to accept credit and debit card payments via a simple mobile application, offering an innovative, convenient, and economical payment option to a wide range of businesses. The investment broadens OMA Emirates’ overall services and solutions portfolio in the Middle East, Eastern Europe, and the APAC regions.

The mPOS solution has been gaining popularity, with the increasing search and use of more flexible payment solutions. MobiSwipe is PCI-DSS and PA-DSS compliant. It has an easy on-boarding process supported with simple pricing and inventory management, and more importantly, does not require merchants to open new bank accounts.  The solution provides mobile and web analytics which are available on the Tablet POS. Payments can, however, be processed anywhere-anytime, using any Android device.

With MobiSwipe, merchants can process payments on the go via the pocket-sized card reader connected to the MobiSwipe app via Bluetooth. The customer’s card would need to be swiped and is followed by the authentication of the transaction on the customer’s PIN inputs. Receipts can be sent to the client via email and SMS, which creates a more cost effective and environmental friendly option. The MobiSwipe card reader is compatible with Swipe and Chip cards and is one of the most secure mPOS solution currently available.

Speaking about the acquisition, Niranj Sangal, Group CEO, OMA Emirates Group said, “There is an increasing acceptance and growth of mPOS solution over the last few years, with many of our customers having shown interest in the solution. At OMA Emirates, we believe that it is important to take note of our customer and market needs, and for us to be positioned to provide them with the right solutions and services. Having acquired MobiSwipe, we are now able to extend the mPOS offerings and we are confident of a larger portfolio. Knowing the mobility, portability, and ease of use of such a solution, we see a huge potential in MobiSwipe not only in India, but also beyond its boundaries.”

“The addition of the MobiSwipe solution will also help a greater number of small and home businesses to fill the gap of being able to accept card payments, especially in an economy that is striving to become a cashless one. In line with our other solutions, the new mobile payment solution withstands the security parameters and we are confident that it will gain momentum in acceptance and usage,” added Sangal.

Suresh Santhanaramakrishnan, Director and Joint CEO, MobiSwipe Technologies said, “With the recent demonetization announcement by the Government, India is swiftly moving towards a more cash free payment environment. The mobile payment market is witnessing a surge and Mobiswipe’s acquisition by OMA Emirates will definitely give it the right impetus for growth. Alongside this, the acquisition will ensure that MobiSwipe makes the right international progress.”

Having been associated with the merchant business for over 15 years, OMA Emirates has been focused on making the latest technology and innovations available with the right partnerships. The company’s acquisition of MobiSwipe is one such step towards making unique solutions available for its entire network.

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