Axis Bank initiated mobile phone based card acceptance service "Swipeon"



First bank in India to launch a mobile phone based card acceptance servic

Ludhiana, July 27, 2012:Axis Bank today announced the launch of Swipeon - a mobile phone based card acceptance service in association with Prizm Payments and Mswipe Technologies. The service will convert any mobile phone into a card acceptance device by simply attaching the Mswipe card reader to the phone.  

 Mobile based card acceptance will benefit merchants with home delivery services, cash-on-delivery agents, taxi drivers and others as they can easily accept card payments on the go, with very small investments on their part.  Swipeon will eliminate all costs associated with cash handling like loss, theft, accounting delay etc.  Swipeon includes a card reader attached to a mobile phone which works as a POS terminal, and the customer is sent a receipt of the transaction via SMS or Email.  Swipeon servicecan be delivered through any mobile phone - be it a feature phone or smart phone (android IOS) platform.

 Speaking on the occasion Jairam Sridharan, Head Consumer Lending & Payments, Axis Bank said, “Axis Bank is proud to introduce this latest technology of Mobile Pcard acceptance in the country through Swipeon. Through this, our user can accept card payment through mobile phones in a secure environment with two layers of encryption. We believe this can be the beginning of a major revolution in card acceptance in India.”