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On Tuesday, the payments services major Suvidha infoserve has acquired AasaanPay which is a first Indian mPOS (mobile Point Of Sale) platform developed at the IIIT Hyderabad Campus.
Suvidha Infoserve said it plans to leverage the mPOS technology for tapping the utilisation of over 15 crore cards issued under the JanDhan Yojana by the government and another 50 crore debit cards issued by various banks.
Suvidha Founder Paresh Rajde, commenting on the deal said, “We have been exploring several ideas to tap the 15 crore cards issued under Jandhan Yojana and enhance the card acceptance ecosystem… this technology acquisition will accelerate our merchant acquiring capabilities several times. “Our technology will also find synergies for rapid expansion of new payment bank license holders.”
