Mumbai-based mobile POS company MobiSwipe Technologies has launched a new chip and pin based mPOS solution, in partnership with Corporation Bank. The new mPOS solution will let merchants use their smartphones or tablets in tandem with a pin-enabled card reader, as a mobile point of sale solution. MobiSwipe also mentions that it is currently in the process of raising new funds, and is in talks with a few venture capitalists for the same. The company had previously raised funds from One97 Mobility Fund in 2012 and had said then that it would use the funds to launch customized products for merchants. The new mPOS card reader can connect to smartphones and tablets via bluetooth, and has an integrated LCD display and a pin-pad for pin entry. The device can accept chip and magnetic stripe cards and is compliant with EMV, RBI and PCI standards. According to MobiSwipe, it has already deployed its mPOS solution to over 100 retailers and enterprise merchants. The company said it will market this product to large SMEs and enterprises, and will also create a platform for enterprise-to-consumer payment collection. Currently, the company is targeting merchants in categories like doctors, home delivery, e-commerce companies, hotels, radio taxis, theatres and hotels & restaurants among others. Recent developments in mPOS - In September, mobile financial & VAS company Mahindra Comviva had partnered payment solution provider First Data to roll out an mPOS solution. As a part of the agreement, small and medium enterprises (SMEs), service professionals and other businesses…
