Axis Bank launches mobile phone based card acceptance service Swipeon
Mumbai, July 18: India’s third largest private sector banking entity Axis Bank today 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.
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 costs associated with cash handling like loss, theft, accounting delay etc. Swipeon 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. Swipeon servicecan be delivered through any mobile phone – be it a feature phone or smart phone (android IOS) platform.
Axis Bank is the market leader in the card acceptance business with more than 2, 00,000 terminals across the country. The Bank has been the innovation leader in this market being the first to launch Cash @ POS, card acceptance at radio cabs, PIN @ POS and other services.
Source: Press Release.