<article>UAE-based payment solutions provider <a style="color: #000080;" href="http://dealstreetasia.com/tag/oma-emirates" target="_blank">OMA Emirates</a> has acquired Indian fintech firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/mobiswipe" target="_blank">MobiSwipe</a> for an undisclosed amount.</article>

UAE-based payment solutions provider <a style="color: #000080;" href="http://dealstreetasia.com/tag/oma-emirates" target="_blank">OMA Emirates</a> has acquired Indian fintech firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/mobiswipe" target="_blank">MobiSwipe</a> for an undisclosed amount.
While the terms of the deal were not disclosed, the acquisition is aimed at broadening OMA Emirates’ overall services and solutions portfolio in the Middle East, Eastern Europe and the APAC regions.
Founded in 2011, MobiSwipe enables merchants to accept credit and debit card payments via a simple mobile application and provides payment options to a wide range of businesses.
Prior to this, Mumbai-based MobiSwipe had raised funds from <a style="color: #000080;" href="http://dealstreetasia.com/tag/one97-mobility-fund" target="_blank">One97 Mobility Fund</a> in 2012.
&#8220;Having acquired MobiSwipe we are now able to extend the mPOS offerings and we are confident of a larger portfolio.  Knowing the mobility, portability and ease of use of such a solution, we see a huge potential in MobiSwipe not only in India but also beyond its boundaries,” said Niranj Sangal, Group CEO, OMA Emirates Group.
“The addition of the MobiSwipe solution will also help greater number of small and home businesses to fill the gap of being able to accept card payments especially in an economy that is striving to become a cashless one. In line with our other solutions, the new mobile payment solution withstands the security parameters and we are confident that it will gain momentum in acceptance and usage,” he added.
Digital payments firms in India got a huge fillip in November 2016, when the government enforced demonetisation of high denomination currency notes and pushed consumers to pay through digital means.
Recently, Paris-based <a style="color: #000080;" href="http://dealstreetasia.com/tag/ingenico-group" target="_blank">Ingenico Group</a> has signed an agreement to acquire Indian electronic payments services provider <a style="color: #000080;" href="http://dealstreetasia.com/tag/techprocess-payment" target="_blank">TechProcess Payment Services Ltd</a>.
“With the recent demonetization announcement by the Government, India is swiftly moving towards a more cash free payment environment. The mobile payment market is witnessing a surge and Mobiswipe’s acquisition by OMA Emirates will definitely give it the right impetus of growth. Alongside this acquisition will ensure that MobiSwipe makes the right international progress.” said Suresh Santhanaramakrishnan, Director and Joint CEO, MobiSwipe.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-20-63876/" target="_blank">French Ingenico to acquire Indian digital payments firm TechProcess</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/fintech-no-more-the-new-kid-on-the-block-61505/" target="_blank">India: Fintech is no more the new kid on the block</a>

UAE-based payment solutions provider OMA Emirates has acquired Indian fintech firm MobiSwipe for an undisclosed amount.

OMA Emirates buys Indian mobile payment solutions firm MobiSwipe

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