MSwipe targeting 100,000 merchants for prepaid card, PoS terminals

CEO Ketan Patel says efforts on to encourage merchants to adopt PoS machines despite zero MDR benefit of UPI payments

Financial services company MSwipe is targeting to onboard 100,000 merchants on its point-of-sales (PoS) terminals and a newly launched prepaid card. The RuPay prepaid card can be used without being linked to a bank account.

“The card was piloted in September and has already been adopted by 15,000 merchants in tier 2 to tier 6 geographies. When a merchant takes a payment through the MSwipe PoS machine, the money gets credited to the prepaid card which can be used to purchase inventory from retailers and wholesalers,” MSwipe CEO Ketan Patel told Business Standard.

With UPI and QR code payments seeing