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Updated: MobiSwipe Secures Funding From One97 Mobility Fund

  Updated below: MobiSwipe Technologies, a Mumbai-based mobile PoS Company, has secured funding from One97 Mobility Fund. MobiSwipe allows merchants to use Android mobile phones or tablets as Point of Sale (PoS) terminals with the capability to accept credit and debit card payments. The monetary details of the funding have not been disclosed. Following the investment, Vijay Shekhar Sharma will also join the MobiSwipe Board and become Chairman for the company. According to MobiSwipe, the funding will allow the company to scale up operations and accelerate growth, and it will launch customized products for merchants for the purpose.  One97 Communications*, the company behind the One97 Mobility Fund, already offers payment services under the Paytm payments brand. Vijay Shekhar Sharma, founder and CEO of One97 Communications said that the funding was in line with the fund's philosophy of supporting mobile focused ventures, and that he believed that mobile phones could act as a catalyst to achieving a cash-free payment environment. On being asked if PayTM Payments would be integrated with MobiSwipe, he responded that the company does have plans for the same, but that will be part of the long term strategy. The Mobiswipe founding team includes Suresh Santhanaramakrishnan, founding member of BharatMatrimony.com; and Harmeet Singh Arora, who has over 15 years experience in the web and mobile space having worked with companies like Rediff.com, Zapak.com among others. Update: Speaking with MediaNama, the two founders informed that the company, which was founded last year, offers an integrated mobile PoS (point of sale) and…

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