Mswipe Technologies — Payment on hold of 18 Lakhs

Hi Team,

User Id:- [protected]
MID:- 42m[protected]
TID:- mb052251

I have taken 2 mswipe machines through ICICI bank and started transaction from 2nd oct 2023... On 2nd oct our customers made 2 Lakh rupees of payment and that amount is settled on 3rd oct 2023 and Our customers made a payment of 18 Lakhs on[protected] but mswipe kept the payment on hold, When I approached them and asked.

Me:- payment was not settled until now when it is going to settle?

Mswipe:- You have made huge transaction so we need to do verification.

Me:- Already when we received the Mswipe machines at that time you agent was made verification then why again verification is required?

Mswipe:- You made huge transaction thats why again we need to do verification so please submit the transaction invoice so we will release the funds they said.

Me:- Next day on 6th we submitted invoices and our company documents.

Me:- On 7th submitted all documents so requested to release the funds.

Mswipe:- We can't release the funds as your account is under verification so our agent will visit your location and then we will release the funds.

Me:- Its not correct you said that you will release funds once you receive the invoice but again you are telling that our agent will come and verify.

Mswipe:- Sir its our company policy so please wait until the verification is done.

Mswipe:- On 21th oct they said that As discussed earlier, we have received the field verification report, but risk team did not find business functioning from the location. Visit was arranged in business hours. It was a surprise visit. So, please provide correct address with landmark from where you are operating the business.

Every day morning 10 am to 7 Pm our office will be open and no one reached our office and they are telling stories just to loot the money, If verification fails then refund the money and cancel the POS machine who gave you the right to hold the funds?

I invested this money by collateralizing the gold in Muthoot finance and they are charging 24k for month.

I won't leave this Mswip that easy as I am going to consumer court and will collect each and every penny including Interest and legal changes too.