Karnataka Bank, an Indian private sector banking group, has launched WisePOSGo, a point of sales swiping machine (POS device) that processes business payments for its merchant customers.

The POS device was rolled out in collaboration with Mswipe Technologies.

Mahabaleshwara MS — MD and CEO of Karnataka Bank said: “This is yet another product in line with our vision of becoming the ‘Digital Bank of Future’. This compact, light weight and user friendly device will be a game changer and transform the digital payment ecosystem associated with POS machines.

“This device is an all-in-one swiping machine loaded with advanced features like contactless payment, mobile phone, QR Code, Pay by link, Magstripe, barcode scanner, 5 – megapixel camera etc, The device will support 4G, WiFi, Bluetooth and micro – USB and can connect through Facebook, YouTube and WhatsApp also.”

Using the WisePOSGo swiping machine, merchants can also make calls apart from processing paymens. The POS device is said to have been designed by taking into account the specific cost-centric requirements of its MSME customers, said the Karnataka Bank CEO.

The WisePOSGo device is said to be available at an affordable cost and comes with no monthly rental charges.

Ketan Patel — CEO of Mswipe Technologies said: “We are happy to develop this product for Karnataka Bank’s MSME customers which will simplify their payment processes. The introduction of ‘WisePOSGo’ is yet another step in the direction of expanding the digital payment infrastructure in the country and promote a cashless economy.”

Last month, Karnataka Bank had launched KBL FASTag, a pre-loaded payment instrument for enabling seamless movement of vehicles at toll plazas in India.

  Banking industry news, India, Karnataka Bank, Ketan Patel, Mahabaleshwara MS, Mswipe Technologies, WisePOSGo