Axis Bank Ltd.

In a bid to provide add on service to its customers, Axis Bank has launched mobile phone-based card acceptance service ‘Swipeon’. The bank has launched it in association with Prizm Payments and Mswipe Technologies. By simply attaching the Mswipe card reader to the phone, the service has the ability to convert any mobile phone into a card acceptance device.

Swipeon service can be utilized through any mobile phone - be it a feature phone or smart phone (android IOS) platform. It 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.

Further, this mobile-based card acceptance will be beneficial to the 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. Besides, it will also eliminate all costs associated with cash handling like loss, theft and accounting delay.