Technology for MSMEs: Small businesses would now be able to have a digital presence in no time to leverage massive e-commerce growth in the country. Businesses can now use a ‘free-to-use business website’ offered by financial services platform Mswipe to go live online with their own microsite within minutes. “While the lockdown has impacted the earnings of SMEs, it has also created the opportunity for them to become a part of the digital economy with customers embracing online commerce,” said Manish Patel, Founder and CEO, Mswipe. Merchants and retailers having an account on Mswipe would be able to create their own website through the existing account and add photos along with social media links to go live. Mswipe would also offer Search Engine Optimisation (SEO) of SMEs’ microsites to enable their visibility online.
The company had recently launched PayByLink that SMEs can share with customers to access the digital bill and complete the purchase. It claimed that nearly a fourth of total transactions facilitated by Mswipe is now done via contactless options such as NFC, QR and PayByLink. “Mswipe is the only player which has a complete range of digital payment solutions for SMEs in India including UPI QR, NFC based Tap and Pay, POS and Payment Link,” the company said in a statement. Mswipe is the largest POS acquirer in India with 6.75 lakh POS and 1.1 million QR merchants, it added.
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Indian small businesses slowly though gradually are realising the significance of adopting digital technologies. According to a recent study by technology company HP covering post-Covid sentiments of SMEs, the companies unanimously agreed to the significance of technology adoption. 35 per cent said that digital adoption is ultimately essential for their success while 40 per cent believed it to be very important. The survey had captured sentiments of 200 SMEs in each of the eight countries including Australia, India, Indonesia, Japan, Singapore, South Korea, Thailand and Vietnam during May and June this year.