Mswipe launches Money Store, an app-store for Point-of-Sale devices

MSwipe's new app store will provide productivity apps, which will enable SMEs to do away with the cost and space required to run a computer-based billing and inventory solution.

Mumbai-based payments startup, Mswipe, on Tuesday announced the launch of an app store for Point-of-sale (PoS) devices, with a vision to extend the utility of PoS terminals beyond just payments.  

The app store, called Money Store, will provide merchants one-click access to a wide range of curated productivity apps from developers like GoFrugal, Logic ERP, ePaisa, Logosoft, Adequare, Retailware, Intution, Clinicia, and nGO. 

Manish Patel, Founder & CEO, Mswipe

With discoverability being a big challenge for Indian developers, software developers who have published their apps on the Money Store will get access to Mswipe’s 500,000 merchant base. 

Further, the productivity apps will enable merchants to do away with the cost and space required to run a computer-based billing and inventory solution. These stores will now be able to operate PoS terminals that offer billing, inventory management, and customer management capabilities in an easy to use interface and zero maintenance. 

Commenting on the launch, Manish Patel, Founder and CEO, Mswipe, said, 

“We are excited to launch an app store for PoS devices in India. Automation can be a game changer for SME merchants. The Money Store, with its best-in-class productivity apps, will enable our customers to increasingly use their PoS terminals for activities like sales, purchases, inventory management, purchase of goods, etc. besides accepting all types of payments.” 

Currently, the app store has over 100 apps already, and comes bundled with Mswipe’s Android-based smart terminals. The company plans to deploy over 200 apps on the Money Store by this fiscal year.

In March this year, Mswipe Technologies raised Rs 219.8 crore in a new round of funding from US-based hedge fund Falcon Edge, Facebook Co-founder Eduardo Saverin’s B Capital Asia, late-stage technology investment firm Epiq Capital, and consumer-focused fund DSG Consumer Partners.

Founded in 2011 by Manish Patel, Mswipe is a mPOS network provider, which enables small and medium-sized enterprises to enable card-based payments through their mobile devices, as well as provides other ancillary services.  

(Edited by Megha Reddy)