Mswipe Technologies appoints Ketan Patel as cofounder, strengthens top deck

Mswipe, a digital payment provider for merchants, on Wednesday said it has made multiple elevations and expanded several leadership roles internally, including appointing chief executive Ketan Patel as cofounder.

The strengthening of its leadership structure comes as Mswipe is looking to push its global expansion plans.

Nayantara Bhargava, formerly in charge of banking and partnerships, will now assume the role of chief business officer, while Saikiran Amin, previously vice president of human resources, will take on the role of group chief human resources officer. Harita Desai Jani has also been elevated to the role of chief marketing officer.


Rishikesh Pillai, who was earlier the chief risk officer (CRO) of Mcapital, the lending arm of Mswipe, has now been appointed as chief executive of the subsidiary.

Rohit Agarwal, the current chief financial officer of the company, will take on additional responsibility of ensuring quality customer service to its merchant partners.

Sachin B. Shettigar, the CRO of Mswipe, will also look at additional aspects of payment settlements, apart from being responsible for the merchant onboarding funnel.

“This initiative has been taken to strengthen the position of Mswipe Technologies in the Indian market, but while we maintain our focus on that, we plan to expand our reach to multiple other countries in the near future. We are currently partnered with Etisalat in the UAE, and have already started operations in Singapore, with plans to launch ourselves in other countries as well,” said Patel.

Mswipe also has plans to expand its reach to other Southeast Asian geographies such as Indonesia.

The company, which obtained the regulator’s in-principle approval for its payment aggregator licence last year, plans to launch its own payment gateway.

Backed by the likes of Matrix Partners, Epiq Capital and Falcon Edge, Mswipe provides card machines and payment acceptance infrastructure to merchants. It has also expanded into providing loans to its merchant base.

This week, PhonePe announced the elevation of several leaders to chief executives of various verticals. Even online payment service provider, Razorpay announced the elevation of Rahul Kothari as its chief operating officer.