Secure personal authentication solutions provider MYPINPAD has formed a strategic partnerships with Visa and Mswipe, the Indian mobile point of sale merchant acquirer and network provider.
The deal is aimed to bolster contactless payments in India. This is an especially important market for MYPINPAD, given that tap-to-pay or contactless card payments in the Indian market are in hypergrowth, led by Visa with over 30 million contactless cards issued.
?MYPINPAD makes it easy and affordable for merchants to become a part of digital acceptance and the payments ecosystem,” said Colin Greene, CEO of MYPINPAD. “Mswipe has spearheaded technology innovation in digital acceptance and payments for small and medium businesses in India. This important milestone, following our recent world-first PCI SSC CPoC certification, is another huge step for the industry in simplifying digital acceptance for the smallest of businesses to the larger retailers.p>
CEO of Mswipe, Manish Patel added, ?What we plan to achieve alongside MYPINPAD will be incredibly significant for consumers, merchants and India in its entirety.. The company technology will enable true democratisation of payments and accelerate the contactless revolution in India, which will result in huge socioeconomic benefits. We look forward to deploying the solution, and where the partnership will take us in the future.p>
Shailesh Paul, head of merchant sales and acquiring and cybersource in India and South Asia at Visa, commented, ?Consumer preference for tap to pay or contactless payments offers a transformational opportunity for our collaboration with MYPINPAD and Mswipe. By empowering small merchants to use their mobile phones to accept tap to pay digital payments and without the need to invest in a standalone terminal, this solution should truly help propel digital payments far and wide across India.p>
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