OMA Emirates expands payment solution portfolio
The acquisition of India-based MobiSwipe broadens the company’s mobile payment capabilities.
OMA Emirates, a company specialised in technologies for the payment industry, has announced the acquisition of India-based MobiSwipe.
The new acquisition will see the addition of mobile of sale (mPOS) solutions to the company's offerings across the Middle East, Eastern Europe and APAC regions.
The addition of MobiSwipe's mPOS solution will enable OMA Emirates to give its clients the capability of managing both credit and debit card payments via a simple mobile application.
Compliant with PCI-DSS and PA-DSS, the mPOS solution can be accessed through an Android smartphone or tablet that is loaded with the MobiSwipe application, as well as connected to an EMV certified pocket-size card reader.
Niranj Sangal, group CEO, OMA Emirates Group, said: "In keeping with OMA Emirates' expansion plans into new geographies and our experience in POS Management across Middle East, it was important for us to add an mPOS solution to the existing portfolio. The new investment in MobiSwipe provides us a stronger platform to broaden our set of business solutions and services."
He added: "This comes at a timely moment when we see an increasing number of consumers using mobile technology for payments and who have higher expectations from retailers to provide them with superior solutions that will increase their convenience while shopping. The new solution will help us provide our merchants with a wholesome mPOS ecosystem that is a combination of mobility, payment and business processing across all sales channels."
MobiSwipe mPOS typically integrates with the merchant's existing POS backup database to retrieve and validate invoice details. This also enables instant activation of the service for each transaction, as well as simultaneously connecting with the bank SWITCH to authenticate and authorise the payment.
Suresh Santhanaramakrishnan, Joint CEO, MobiSwipe, commented: "As a company that has specialist solutions for the payment industry and the increasing use of mobile technology, the acquisition by OMA Emirates is the perfect opportunity for MobiSwipe to reach larger markets and for companies to harness the business impacts of technology advancements.
"As an India based company, the new developments gives us the opportunity to enter new markets such as the Middle East, North Africa and Eastern Europe."