Mumbai: Leading United Arab Emirates payments solutions provider OMA Emirates has announces the acquisition of MobiSwipe Technologies Private Limited a mobile payment solutions company.
MobiSwipe enables merchants to accept credit and debit card payments via a simple mobile application and provides an innovative, convenient and economical payment option to a wide range of businesses. The investment broadens OMA Emirates’overallservices and solutions portfolio in the Middle East, Eastern Europe and the APAC regions.
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 anincreasing 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 greater number of small and home businesses to fill the gap of being able to accept card paymentsespecially 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.
“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 of growth. Alongside this acquisition will ensure that MobiSwipe makes the right international progress.” added Suresh Santhanaramakrishnan, Director and Joint CEO, MobiSwipe Technologies Private Limited.
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.