What Mswipe Technologies does

Mswipe Technologies is an India-headquartered digital payments platform that provides merchants with hardware, software and processing infrastructure to accept card, UPI and online payments across in-store and digital channels. Founded in 2010 in Mumbai and now a subsidiary of NASDAQ-listed ALT5 Sigma Corporation following a 2025 acquisition, Mswipe serves more than 600,000 businesses across 600+ Indian cities, supported by a 450+ person on-ground technical support team that includes remote regions such as Jammu & Kashmir, the Andaman & Nicobar Islands, and the Northeast states. Its core product stack comprises Smart POS terminals (Wisepos Plus, Wisepos Neo 2 with Android 12 and quad-core processors), Soundbox audio confirmation devices (Boombox X1, Boombox B3), a payment gateway with ready-to-use plugins, a pay-by-link solution, and Merchant App/Portal tracking tools; the platform is complemented by a loyalty program with 150+ brand partners and integrations such as Pluxee wallet support.

Mswipe generates revenue predominantly from transaction processing fees on payments routed through its POS, QR, gateway and pay-by-link rails, supplemented by hardware sales of Smart POS and Soundbox devices, and by value-added services (UPI/POS switch, terminal telemetry, settlement, risk product, chargebacks, custom integrations) sold to banks and enterprises. Pricing is transaction-based with take rates in line with the Indian payment aggregator range of 15-60 basis points, supplemented by hardware unit sales that now carry Rs 10,000+ price points due to import costs. Distribution is multi-motion: self-serve SMB onboarding via app/web, direct enterprise sales to banks and large corporates, and bank-channel merchant acquisition, with a parallel international channel using a UK BIN sponsorship through Cashflows for FCA-aligned operations. Mswipe holds a full Indian regulatory stack — NBFC (FY22), PPI (December 2024) and Payment Aggregator (December 2025) licenses from the RBI — plus PCI DSS certification, which together enable merchant onboarding, wallet issuance, lending activity, and cross-border payment aggregation. International operations extend into the UK, UAE, Singapore and the US.

Name

Mswipe Technologies

Legal name

Mswipe Technologies Pvt Ltd

Website

https://mswipe.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mswipe Technologies is a Mumbai-based digital payments platform providing Smart POS terminals, Soundbox devices, payment gateways and pay-by-link solutions to over 600,000 merchants across 600+ Indian cities, with international operations in the UK, UAE, Singapore and the US.

Ownership category

akta.pro rank

Product category

Merchant Acquiring and Digital Payments

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), Merchant Acquiring Banks & ISO/MSP Acquirers (FSAMABAB), QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH), Payment Gateways & Orchestration (BPAMAFAA), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), QR Code Payments Wallets (FSAMAEAC), Mobile POS (mPOS) Devices & Handheld Terminals (HDACAKAB)

Keywords

• Digital payments
• POS terminals
• Payment gateway
• Merchant acquiring
• Mobile POS

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Transaction Processing Fees: Merchant transaction fees charged on each payment processed through POS terminals, QR codes, payment gateway, and pay-by-link. Competitive pricing model with transparent fees. Transaction margins in the industry range from 15-60 basis points.
2. POS Terminal and Soundbox Device Sales: Sale of hardware devices including Smart POS terminals (Wisepos Plus, Wisepos Neo 2) and Soundbox devices (Boombox X1, Boombox B3) to merchants.
3. Cross-border Payment Processing: Revenue from inward and outward cross-border transactions enabled by RBI Payment Aggregator license expansion.
4. Value-Added Services: Additional services including UPI switch, POS switch, terminal telemetry solutions, settlement services, risk product, chargebacks management, and custom integration solutions for enterprise customers.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels5 records

Core offering

Mswipe Technologies is an India-based digital payments company that provides merchants with POS terminals, mobile POS solutions, payment gateway services, QR code-based acceptance, and soundbox confirmation devices. It also holds an RBI PPI license enabling prepaid payment instruments, an NBFC license for merchant lending, and serves more than 600,000 merchants across 600+ Indian cities.

Product overview

Mswipe Technologies is a digital payment solutions provider offering a comprehensive omni-channel payment platform for merchants. The product portfolio includes Smart POS terminals (Wisepos Plus, Wisepos Neo 2) for in-store card and UPI payments, Soundbox devices (Boombox X1, Boombox B3) for audio payment confirmations, and online solutions (Pay By Link, Payment Gateway) for e-commerce. The platform is complemented by the Merchant App and Merchant Portal for transaction tracking and management, along with a Loyalty and Rewards program. Value-added services include merchant onboarding, UPI/POS switch capabilities, terminal telemetry, settlement services, risk management, and chargeback handling. Mswipe serves over 600 cities in India and operates internationally in UK, UAE, Singapore, and US markets.

Differentiator

Problem solved

Functional benefit

Brands

• Wisepos Plus: Smart POS terminal for in-store payments
• Wisepos Neo 2
• Boombox X1
• Boombox B3
• Pay By Link
• Mswipe Payment Gateway

Products and services

• POS Terminals

Quantifiable outcome

• Revenue of over INR 275-276 crore in FY24
• +3 more outcomes

Named customers4 records

Segments11 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature10 records

Partnerships

Two partnerships are on record, tiered core.

• RBI (Reserve Bank of India)coreOthersRegulatory licensing partner providing Payment Aggregator license (December 2025), PPI license (December 2024), and NBFC license (FY22). Enables Mswipe to operate as fully regulated payment aggregator for domestic and cross-border transactions.
• CashflowscoreStrategic or Co-development PartnerUK payment services provider that enabled Mswipe's UK market entry through BIN sponsorship model. This partnership allowed Mswipe to launch UK operations without requiring a direct domestic acquiring license, providing FCA oversight compliance and faster market entry.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Verifone: Global POS terminal manufacturer and payment solutions provider. Comparable to Mswipe on merchant-facing POS hardware and integrated payment solutions, though Verifone is hardware-led rather than full-stack.
• Ingenico (Worldline): Global POS hardware and payment acceptance provider with operations in India. Competes with Mswipe's Wisepos hardware line and merchant acquiring services in the enterprise and retail segments.
• PhonePe: Dominant UPI and digital payments player in India, increasingly expanding into merchant acceptance (POS, QR) and POS hardware. Overlaps with Mswipe on merchant payment acceptance and dynamic QR/soundbox category.
• PAX Global: Hong Kong-headquartered POS terminal manufacturer with strong presence in India. Competes with Mswipe's Wisepos hardware line for merchant acceptance, serving acquirers and payment aggregators.
• Paytm (One97 Communications): India's largest digital payments platform spanning consumer wallets, merchant payments, POS, payment gateway, and financial services. Overlaps with Mswipe on POS terminals, QR payments, payment gateway, and merchant lending, with materially larger consumer reach.

Direct peers

• BharatPe: India-focused merchant payments and lending platform offering QR, POS, and small-ticket credit to SMBs. Direct competitor to Mswipe's SMB segment with similar product breadth across in-store payments and merchant lending.
• MobiKwik: Indian mobile wallet and digital payments company offering merchant acquiring, payment gateway, and BNPL services. Comparable to Mswipe on its PPI license adjacency, merchant payment gateway, and SMB focus.
• Pine Labs: One of India's largest POS and merchant payment solutions providers, offering Smart POS terminals, payment gateway, and value-added services to enterprise retail, restaurants, and petrol stations. Directly comparable to Mswipe's in-store and online payments stack targeting similar merchant segments.
• Razorpay: India's leading online payment gateway and merchant services platform, expanding into POS and offline payments. Competes with Mswipe on payment gateway, Pay-by-Link, and merchant onboarding across SMB and enterprise segments.
• CCAvenue: Established Indian payment gateway and merchant acquiring service. Direct competitor to Mswipe's online payment gateway and merchant payment solutions targeting SMBs and mid-market merchants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@MswipeTechnologiesIndia
• Facebookfacebook.com/mswipe
• LinkedInlinkedin.com/company/mswipe-technologies
• Instagraminstagram.com/mswipe_technologies
• Xx.com/Mswipe

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds10 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mswipe Technologies