Swish Payments Secures MasterCard Membership
mPOS (mobile point-of-sale) provider Swish is proud to announce that it is now a full member of MasterCard. This has been achieved through sister company Swish Payments Ltd which is a fully regulated financial institution licensed by the Financial Services Authority of Malta (MFSA). Visa membership will be concluded by early 2015. With enthusiasm for mPOS solutions from card networks such as Visa and MasterCard, and an appetite for mPOS transactions from acquiring banks (due to the low risk nature of the transactions), the mPOS environment is becoming highly competitive. Swish has a clear competitive advantage, as it offers a full suite of patented, disruptive technologies at a significantly lower cost than traditional point-of-sale payment solutions.
Through its standing as a financial institution and with its MasterCard and Visa memberships, Swish will now be able to partner with Mobile Network Operators (MNOs) and other non-bank organisations in various countries to enable the deployment of its mPOS solutions in these markets.
The Swish mPOS solution consists of a range of fully certified card reading devices, iOS Swish App and Android Swish App mobile applications, and full back office solution that collectively facilitate card transactions from beginning to end. Swish’s proprietary technology is all-inclusive; from merchant creation, payment processing, reporting, and fraud detection. Effectively, this low-cost acceptance solution takes card payment and acceptance to many key underserved market segments, from micro-merchants and SMBs to large enterprises.
Swish also offers a white label solution to banks, payment service providers, MNOs, and others looking to deploy a fully certified, branded mPOS solution in any global market. By partnering with an end-to-end mPOS service provider such as Swish, partners are able to defend their existing merchant service business, and grow their market share in an increasingly competitive landscape. Swish provides transaction processing, merchant boarding and reporting APIs, which allow full integration into any external systems that its partners may currently use.
Through its two business models, Swish will continue to expand its operations into a number of countries globally in 2015 by joining forces with acquiring banks, MNOs and other non-bank partners.