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Mobile Payments

MobiSwipe acquired by UAE-based OMA Emirates

Monday 13 February 2017 | 10:23 AM CET

Mobile payments solution provider MobiSwipe has been acquired by United Arab Emirates-based payments solutions provider OMA Emirates for an undisclosed amount.

The terms of the acquisition were not disclosed but the company said this acquisition will broaden OMA Emirates’ overall services and solutions portfolio in the Middle East, Eastern Europe and the APAC regions.

Founded in 2011 by Harmeet Singh Arora and Suresh Santhanaramakrishnan, MobiSwipe enables merchants to accept credit and debit card payments by using their mobile phones as point-of-sale terminals. Merchants can process payments on the go via the pocket-sized card reader connected to the MobiSwipe app via Bluetooth.

OMA Emirates had previously backed the Mumbai-based company in November 2016. Prior to this, MobiSwipe had raised funds from One97 Mobility Fund in 2012.

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