Mustafa Khanwala’s revolutionizing journey with MishiPay, eliminating queues and transforming shopping, has earned him a spot among the finalists for the Great British Entrepreneur Awards 2023, showcasing his visionary approach to enhancing the retail experience.
Mustafa Khanwala, CEO and founder of MishiPay, has always been frustrated with waiting in long queues. In 2015, after waiting 20 minutes in a queue just to buy a can of soda, Khanwala knew there had to be a better way. He founded MishiPay that same year to eliminate queues and transform the in-store shopping experience.
MishiPay’s innovative mobile self-checkout technology allows shoppers to scan items on their phone, pay instantly and leave the store without queuing. In 2022 alone, MishiPay saved 505,000 shoppers over 25,000 hours of waiting in line and helped retailers boost sales by over £3 million. The company has raised funding from VC investors and is on track to reach EBITDA profitability by March 2024.
Khanwala built MishiPay from scratch into a thriving startup with over £6.7 million in contracted annual revenue. It had more than 220,000 transactions in July 2023 and is expected to exceed 1.5 million in December 2023. The company’s self-checkout technology is its sole product and main source of revenue. MishiPay continues innovating to enhance its offering, recently implementing computer vision to improve anti-theft measures by verifying items in customers’ baskets match their purchases. MishiPay also plans to launch a smart cash register and mobile point-of-sale system.
Through vision, determination and perseverance, Khanwala has transformed how we shop and pay in stores. As a finalist in the 2023 Great British Entrepreneur Awards, Khanwala is recognized among the UK’s most inspiring entrepreneurs. The “Grammys of Entrepreneurship” will be held November 20th in London.Learn more about Mustafa Khanwala and MishiPay at https://mishipay.com/.