Mswipe, India’s largest independent Point-of-Sale (POS) merchant acquirer today announced the launch of Money StoreTM, India’s first app store for POS devices.
Built with a vision to extend the utility of POS terminals beyond payments, the Money StoreTM 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. The app store has over 100 apps already and comes bundled with Mswipe’s state-of-art Android based smart terminals. The company plans to deploy over 200 apps on the Money StoreTM by this FY.
With the average size of an Indian SME retail store being 4X10, 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. The initiative would be led by Mr. Jayprakash Kahar, who is the Head of Channel Sales and Money Store at Mswipe. Jayprakash has over 20 years of experience in enterprise resource planning and has held various senior positions across sales and marketing in the past.
Commenting on the launch of Money StoreTM, Manish Patel, Founder and CEO, Mswipe said, “We are excited to be the first to launch an app store for POS devices in India. Automation can be a game changer for SME merchants. The Money StoreTM with its best-in-class productivity apps will substantially enhance the value of our products for our customers enabling them to increasingly use their POS terminals for activities like sales, purchases, inventory management, purchase of goods, etc besides accepting all types of payments.
Software developers who have published their apps on the Money StoreTM get unprecedented access to Mswipe’s 500,000 merchant base. With discoverability being a big challenge for a host of Indian developers, Mswipe offers them a platform to access lakhs of SMEs in over 1,000 cities and towns across the country. Access to the Money StoreTM would be especially rewarding for developers who are new and have comparatively sparse market exposure.
Kumar Vembu, CEO, GoFrugal, said, “While a lot of merchants these days are accepting payments digitally, many of them lack the right tools to manage their businesses effectively. Money StoreTM addresses this challenge, and offers an integrated, automated solution that digitizes SME’s.”
Swarndeep Singh, MD, Logic ERP Solutions, said, “Money StoreTM is an ideal platform to expose SME merchants to technology. With the kind of variety that the store offers, SMEs can find their ideal productivity apps and operate them on their POS device itself. Since the apps have been built and tested specifically for WisePOS, both developers and merchants do not have to worry about the quality of experience, something that used to be a big challenge when the apps were run on untested personal devices.”