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MSwipe receives RBI approval to expand into online payments and merchant sound devices

The Reserve Bank of India (RBI) granted in-principle approval for the payment aggregator licence to B Capital-backed merchant lending and offline payment platform MSwipe on August 8.

The international Domino’s pizza chain, the airlines Vistara, GoFirst, and Spicejet, the online retailer Flipkart, the food delivery app Zomato, and the ticket booking app BookMyShow are among the companies that use MSwipe for offline payments. The company, which offers point of sale (PoS) devices for offline payments, will now prepare a move into the online payments industry with the launch of its online payment gateway.

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