Karnataka Bank, in collaboration with Mswipe Technologies Pvt Ltd, has launched ‘WisePOSGo’ — a PoS (point-of-sales) device that processes business payments — for the bank’s merchant customers.

Launching the new product, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said this user-friendly device will be a game changer and transform the digital payment ecosystem associated with PoS machines. This device is an all-in-one swiping machine loaded with advanced features such as contactless payment, mobile phone, QR code, pay by link, magstripe and barcode scanner.

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He said the device will support 4G, Wi-Fi, Bluetooth and micro-USB. This connected payment solutions device lets the merchants make calls as well as process payments and is designed keeping in mind the specific cost-centric needs of bank’s MSME (micro, small and medium enterprises) customers.

By integrating payments with business applications in one single device, small business establishments will benefit by having an agile and conducive platform to source business. The device is available at an affordable cost without any monthly rental charges, he said. The ease of processing transactions through ‘WisePOSGo’ will help the bank’s retail and MSME customers augment their businesses by providing their consumers a convenient and flexible way of shopping, Mahabaleshwara said.

Speaking on the occasion, Ketan Patel, Chief Executive Officer of Mswipe Technologies Pvt Ltd, said his company is happy to develop this product for Karnataka Bank’s MSME customers that will simplify their payment process. The introduction of ‘WisePOSGo’ is yet another step in the direction of expanding the digital payment infrastructure in the country and promote a cashless economy, he added.

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