Mobile VAS firm Mahindra Comviva has launched payPLUS, an mPOS solution aimed at SMBs and service professionals. payPLUS enables mobile point-of-sale transactions with the help of an app and a mini card reader and supports feature phones as well as smartphones.
"We have built this solution for retail chains, the insurance sector, supermarkets, restaurants and any business that has mobility as a driver for retail sales. With the growth of cashless transactions globally, this solution would contribute in accelerating the shift towards cashless economy," said Srinivas Nidugondi, head - mobile financial solutions, Mahindra Comviva.
Apart from card and other payments, POS and cash register, payPLUS will enable merchants to deliver promotional campaigns with offers and discounts to customers, based on their location/proximity by leveraging location-based services.
Mahindra Comviva, formerly known as Comviva and a part of Bharti Group, was acquired by Tech Mahindra last year. Tech Mahindra acquired 51 per cent stake in the mobile VAS firm for Rs 260 crore ($48 million) and the firm was rechristened as Mahindra Comviva. The VAS firm's suite of services includes solutions spanning mobile money and payments, mobile data, integrated messaging, mobile lifestyle and customer life cycle management solutions.
Several other mPOS solutions are making their presence felt in the Indian market now. Before Mahindra Comviva, the latest one to join the list was Mumbai-based Mosambee, which raised seed funding of around $1 million from SIDBI Venture. Other popular solutions include Mswipe, which is backed by Matrix Partners and MobiSwipe which raised undisclosed funding from early-stage investor One97 Mobility Fund.
(Edited by Joby Puthuparampil Johnson)