[Product Roadmap] Starting with 50 merchants to processing $5B payments annually – the Mswipe journey
A product roadmap clarifies the why, what, and how behind what a tech startup is building. This week we feature the fintech startup - Mswipe, the startup that processes $5 billion in payments annually with 1.4 million points.
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In 2011 when
fintech, digital payments, and wallets weren’t oft-used words, Manish Patel, the owner of alcohol franchise, Sante Wines and Beer in Mumbai, decided to start Mswipe. He had seen a big gap that most SME businesses faced - accepting card payments.
“Getting a POS terminal to accept digital payments in our country was not easy back then,” recalls Manish. He had observed that most small merchants couldn’t get a terminal that could accept card payments from a smaller bank or a cooperative bank. This meant they had to work with the terms that were imposed by larger banks.