Mswipe registers 6X growth in Pay By Link based transactions

Fintech solutions provider Mswipe on Tuesday said it has seen Pay By Link (PBL)-based transactions on the platform growing six-times to 12.55 lakh in March 2021 over the year-ago period.

PBL transactions - transactions facilitated by payment links via SMS and WhatsApp - grew from 2.37 lakh in March 2020 to 12.55 lakh in March 2021, Mswipe said in a statement.

A high adoption has been observed across metro cities including Bangalore, Mumbai, Delhi NCR, Chennai and Hyderabad, and non-metros such as Kanchipuram Tiruvallur, Coimbatore, Vadodara and Goa, it added.

Mswipe said its merchant partners in metros are seeing a high adoption for PBL transactions from their customers across various segments including e-commerce, auto accessories, mobile phones and groceries. On the other hand, in non-metros, merchants are witnessing higher traction for link based payments for groceries, electronic items such as mobile phones, purchase of travel tickets, clothing and at restaurants, it added.