This has been achieved via sister company Swish Payments which is a fully regulated financial institution licensed by the Financial Services Authority of Malta (MFSA). Visa membership will be concluded by early 2015.
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 certified card reading devices, iOS and Android mobile applications, and full back office solution that collectively enable card transactions from beginning to end.
Swish also provides a white label solution to banks, payment service providers, MNOs, and others looking to deploy a certified 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. Swish provides transaction processing, merchant boarding and reporting APIs, which enable full integration into any external systems that its partners may currently use.
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