Axis Bank launches India’s first pocket-sized swipe machine ‘MicroPay’, based on ‘PIN on Mobile technology’

• India’s third largest private sector lender Axis Bank has launched ‘MicroPay’, country’s first pocket-sized swipe machine, for accepting digital payments.
• The ‘MicroPay’ has been launched along with Ezetap by Razorpay and MyPinpad as the technical solution partners.
• MicroPay is based on ‘Pin on Mobile’ technology, that converts a merchant’s smartphone into a Point-of-Sale (POS) terminal

How it works?

• MicroPay is a pocket-sized, small, low-cost card reader which supports “insert” and “tap” options for debit and credit cards.
• The card reader can be connected to the merchant’s smartphone through Bluetooth and allows customers to punch in their PIN directly on the merchant’s smartphone, for accepting digital payments.