OMA Emirates enters Indian payments solns mkt; buys MobiSwipe

UAE based merchant solutions provider OMA Emirates today said it has entered into Indian market with the acquisition of mobile point of sale (mPOS) firm MobiSwipe.
MobiSwipe enables merchants to accept credit and debit card payments through a mobile application.
OMA, which is currently having presence in Middle East, Europe and select parts of Asia, will provide services like business development, sales and marketing.
The company said its operations will be located in Mumbai and plans to open offices in other parts of the country gradually.
OMA Emirates is in the business of providing solutions like electronic funds transfer (EFT) POS application, mobile e-top-up solution, EMV card personalisation solutions, central issuance solutions, branch issuance solutions, among others.

"As a technology company OMA Emirates makes constant advancements and provides innovative offerings helping us to stay ahead of competition. India has always been a country of our interest in terms of investments with its diverse markets and the scope for business they present," said Niranj Sangal, Group CEO, OMA Emirates Group said in a statement.

He said company's entry into India has been well planned and is a significant venture that will help it build business portfolio.
To begin with, OMA Emirates said, it will expand presence across India, mainly in metros and tier-I cities to begin with.
"OMA Emirates is also focused on increasing its sales and market share in addition to extending reach to neighbouring countries," said the company.

Besides, it said expansion will also involve increasing product line with strategic partnerships, alliances and investments.