An Mswipe mobile PoS device. Credit and debit card transactions at PoS terminals saw a 106% year over year growth in December 2016, according to RBI. Ltd has initiated talks to raise as much as $40 million (around Rs250 crore) in a new round of funding, two people aware of the development said. Credit and debit card transactions at PoS terminals saw a 106% year-on-year growth in December, according to Reserve Bank of India data. Mswipe provides a mobile payment solution with a card reader, which can be attached to any mobile phone’s audio (headset) jack.

Source: Mint April 09, 2017 16:18 UTC