Business

List of mPOS Machine & Solution Providers in India – How to buy one?

Point of Sale systems have come a long way from where they were a decade back. At a time when smartphones are becoming payment instruments, Mobile Point of Sale or mPOS technology is evolving simultaneously. Now that the Indian Government has taken a major step towards making the economy cashless, it has become a requirement for businesses to start accepting cashless payments as well. Installing an mPOS is a convenient, cost effective and a holistic approach to do so.

A Brief Introduction to mPOS

mPOS systems are portable hardware devices which work wirelessly and process payments through a range of payment methods – Credit Cards, Debit Cards, Chip-based cards etc. With mobile wallets and NFC technology gaining popularity, many of the mPOS hardware allow payments through these as well.

These are much more cost effective than PSTN (public switched telephone network) or Desktop GPRS POS systems, which have high installation & maintainance costs. Additionally, most of the available mPOS systems are suitable for all sizes of business. Since the hardware unit comes equipped with a SIM slot, merchants in remote areas can also process payments through GPRS, in the absence of a fixed line network.

mPOS machines can be paired with a smartphone or a tablet, hence making them easy to use by anyone. Large store owners, can buy several mPOS devices which can be linked to a central register. This helps in eliminating a single point of check out. Click here to read more about what is mPOS.

Types of mPOS Systems

We can broadly classify the presently available mPOS hardware into two categories.

1. Hand Held POS Terminals
mPOS machine by Paynear

Example of a handheld mPOS machine

You can think of these as compact portable credit card/debit card swipe machines. These are light, and can operate over GPRS or WiFi. They can be paired with a mobile app, which can also be used for managing the bank account and transaction history. Besides swiping, certain such machines accept chip-based (EMV) cards as well.

2. Compact Smartphone/Tablet Terminals

smartphone mpos terminal

These type of terminals convert any smartphone or a tablet into an all in one cash register. These are bluetooth enabled swipe machines, that need to be inserted into standard 3.5 mm audio jacks. The supporting apps come with the provision of taking the customer’s signature, hence eliminating the need of printing receipts.

Both handheld terminals, and smartphone card swipers offer the provision of sending digital receipts to customer’s mobile number and email. This saves printing paper & ink costs.

How to Get Started

As a merchant, you can avail an mPOS device from any of the dedicated companies given in the list below, or directly from banks like SBI, HDFC etc. These firms will help you choose a device & plan as per your requirement. You can sign up on the website and request a visit by their representatives. Most companies requires standard documents for onboarding – KYC forms, address proof and PAN card. While there are some mPOS providers that will directly integrate with your bank, some might require you to create a bank account with their supporting bank.

Once you have the device, you would need to link it with the respective provider’s desktop or mobile app. Link the device merchant account with your bank account, and you are good to start taking payments.

Some Important Things to Know

While you are shortlisting which is the best device for you, here are a few terms you may come across:

  • PCI DSS Compliant – This is a global standardisation for accepting payments securely. It stands for ‘Payment Card Industry Data Security Standard’. Check if the mPOS provider you are dealing with is PCI certified.
  • Issuer – Issuer represents the bank that issues cards. This is the bank your customer has an account at.
  • Acquirer – This is the bank which will facilitate payments into your account. It is directly linked to your POS terminal. SBI is the biggest acquiring bank of mPOS terminals in India, followed by HDFC & Axis Bank.
  • Merchant Discount Rate(MDR) – This may also be called Merchant Service Fee(MSF). It is the commission that the acquirer bank charges for facilitating payments. RBI regulates MDR, and has capped it at 0.75% for transaction values upto Rs.2000 and at 1% for transaction values above Rs.2000 for debit card payment. No limit has been set for credit card payments.
  • Near Field Communication (NFC) – This technology allows contactless payments using smartphones or EMV cards.

List of mPOS Solution Providers in India

Below is a list of firms that offer mPOS payment solutions in India. All of these firms provide hand held POS terminals. Some these companies and banks either source the hardware from international terminal manufacturers like Ingenico & Verifone (International OEMs) or local manufacturers like Powercraft Electronics, Visiontek etc. While some like Ezetap, mSwipe etc. make both hardware and software. Most of these companies also provide compact smartphone swipers, as given below.

While all companies offer competitive pricing, some have plans varying upon the nature & size of a merchant’s business, and hence refused to disclosed the rates publicly, info na. has been stated in those places. All of these are PCI-DSS compliant.

NameSet up Fee Startig (Rs)Rental Starting (Rs)Debit Card FeesCredit Card Fees Bank AgnosticAccepts WalletsSmartphone swipersNFC
Bijlipaynil1000.75-1%1-2%YYNY
ePaisa3500 1990.75-1%2%YYNN
Ezetap2000n.a.n.a.n.a.YYYY
HDFC Merchant Servicesn.a.n.a.n.a.n.a.NNNN
ICICI Merchant Servicesn.a.n.a.0.75-1%1.5-2%NNYY
MobiSwipe25002500.75-1%1.65% to 2.10% YYYN
Mosambeen.a. n.a.n.a.n.a.NYNN
MRL Posnetn.a.nilnil1.5%YNNN
mSwipe2000n.a.0.75-1%1.5-2%YNYY
Paynear One8000nil0.75-1%1.5-2%YYNY
PayU Money8500nil2%2%YNNN
Pine Labsn.a.n.a.n.a.n.a.YYNY
SBI MABn.a.n.a.0.75-1%n.a.YNNY
CirQ POSn.a.166700YYNN

Some Key Points on Individual Providers

  •  Bijlipay – Bijlipay is also a partner with Indian Overseas Bank’s mPOS initiative. It was founded in 2012, and offers miniATM facility to merchants as well.
  • ePaisa – ePaisa terminals allow merchants to accept UPI payments and Bitcoin payments as well. Additionally it offers analytics, inventory management solutions & omni-channel payment acceptance solutions.
  • Ezetap – Ezetap hardware solutions are compact and are suitable for eCommerce companies, and companies with outdoor field staff.
  • HDFC Merchant Services – HDFC is the second largest acquirer bank after SBI. It also offers a mobile payment solution called ‘PayZapp for Business’ to accept mobile payments through wallets or UPI.
  • ICICI Merchant Services – ICICI Bank offers mPOS solutions in partnership with global payments company First Data.
  • Mobiswipe – Mobiswipe offers robust hardware manufactured by POS leader, Ingenico.
  • Mosambee – Mosambee also offers a mobile app specifically for accepting mobile wallet payments. Plus it offers an AADHAAR Enabled Payments System too.
  • MRL Posnet – It has a digital POS solution called Paytivo, which comes with a touchscreen and a battery life of 48 hours.
  • Mswipe – Mswipe also offers its proprietary hardware. It is used by several big brands in different sectors including Asian Paints, Jabong, McDonald’s, Quikr, Spectranet etc.
  • Paynear – Paynear also white labels its payment & hardware solutions. ICICI bank is one of its clients.
  • PayU – It is also a payment gateway provider & offers quick availment of mPOS, with just the Pan Card and a cancelled cheque. It has no monthly rentals.
  • Pine Labs – It claims to have over 60,000 retail merchants using its solutions. This includes large chains like Bata, Big Bazaar, CCD etc.
  • SBI Merchant Acquiring Business – It also offers fixed/desktop based POS terminals. Even non-SBI merchants can use SBI’s MAB Services.
  • iKaaz – iKaaz isn’t mentioned in the above list, since it doesn’t offer a conventional mPOS terminal. However it does offer solutions to accept NFC based payments.

In case we missed out any prominent mPOS provider, or if there’s any factual error, please write to editor@iamwire.com. And if you found this list useful, do share in your network to assist others too.

Our team made efforts to make this data available to everyone. Feel free to use this data (partially/fully), but please don’t forget to attribute it to this page with a link-back. 


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29 Comments

  1. 1

    Dear,
    I want to know the name address & Contact no. of users / POS merchants in Bhopal.
    Kindly provide me if possible for you.

    Thanks

    Anand

  2. 2

    I m interested in having around 10 pos machines for our NGO for taking donations through card. We are a devotional renowned reg NGO also we provident 80 G certificate for our donors for tax exemption. Pls service providers do contact on 9325549222 as we r in a urgent mode. Mswipe ppl pls don’t contact as u ppl are not in a mood of business and u just wanna have all money in adv and tieup and then harras. So any others pls contact at earliest with a sound propose.
    Regards
    Ravi.

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    We want to take Distributorship for POS machine of reputed Business House, our Company is Registered in 16 states, with Regional Offices and Head Office in Mumbai.

    Kindly contact at details mentioned below :-

    Sudhir R. Chari
    Mobile : 8691043344
    Director,
    Ideas Infratech India Pvt. Ltd.,
    80/81, Sunrays Shopping Centre, Charkop Market, Kandivali West, Mumbai 400 067

  8. 11
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    Hii, this is Subrahmanyam and we would like to partner with the Best Payment sollutions organisation in India for our MPOS Machines importing from China.
    Thanks & Regards,
    Subrahmanyam KVS,
    +91 99499 55229
    kvss37@gmail.com

  10. 14
  11. 15

    Hi Dears,
    We are manufacture of Smart pos in Shanghai,China.
    I visit India two times last month and want to coopeate with
    solution company and develop the market in India.If you have any informaiton
    about Smart POS, please don’t hesitate to contact to us,thanks
    and best regards,

    ——————
    Michael Wang
    Overseas Regional Director
    SmartPeak(Shanghai)Technology Co.,Ltd
    Telephone:+86-21-61733912
    Zip:200030
    Mobile phone:+86-18621930538
    Skype:michael.wang-delhi
    WhatsApp:+91-8447070404
    Add:Block 4,No.20.Middle Xuhong Rd,Xuhui District,shanghai,China
    Website:http://www.smartpeak.cn

  12. 16

    Dear All,
    We provide lithium-ion batteries for all kinds of POS / handheld machines. Our batteries are manufactured at our facility near Delhi. Our batteries are high quality, BIS approved and have long cycle life. Please send your enquires at contactakycha@gmail.com or call at +91 9205298329.
    Assuring you best services.

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    Dear All,

    We provide connectivity solutions for your mPOS machines with seamless connectivity and constant coverage leaving aside your worries of finding a connection when you have to swipe. We have partnered with Operators and are already providing solutions in the VTS industry running large scale government projects. Let me know if you would like to meet us in person and improve your Quality of Service with the end customer. Regards, Suthirtha, 9910200312

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