Mswipe reports Rs 277 Cr revenue and Rs 46 Cr loss in FY24

MSwipe, a leading payment solutions provider, reported a loss of Rs. 46 crore for FY24, reflecting challenges in sustaining growth in a competitive market. The company, which offers mobile point-of-sale (mPOS) solutions to small businesses, has faced difficulties in scaling up its services. Despite attempts to innovate and expand its customer base, MSwipe’s financial performance has been hindered by intense competition, regulatory hurdles, and the slow adoption of digital payment systems among smaller merchants. The company plans to restructure and refocus on key growth areas.