Bangalore-based mobile payments
solutions provider, iKaaz Software Pvt Ltd has launched a platform to
facilitate quick and easy payments for enterprises as well as consumers. iKaaz
consumers wallet offers banks, operators, and merchants a mobile wallet to
their customers, while its consumer centric platform iKaaz M-POS can replace
expensive POS equipment with just a feature phone that settles payments
electronically.
The company also offers an app, Tap
& Pay, using which a bank account holder can initiate money transfers and
consumers can complete merchant transactions and pay bills using their mobile
phones. With this app, which leverages NFC technology, merchants can receive
payments from customers with just a tap of a phone at the checkout terminal.
On the one hand, customers can
transform their mobile phones into a mobile wallet using a smart iKaaz NFC tag
and complete payments faster at merchant locations. On the other hand, merchants
can benefit by significantly by reducing the transaction processing fees.
Developed by domain experts with many years of experience in the mobile
payments space, iKaaz is head quartered in Bangalore and caters to customers
across the globe. It has offices in Washington the US and Nairobi in Kenya.
Last year, iKaaz has expanded into
Kenya. For the same, the company had collaborated with Family Bank, one of the
leading banks in the country. As the part of partnership, iKaaz will provide
the customers of Family bank with its Near Field Communication (NFC) and
Bluetooth powered contactless payments through Tap and Pay method. The software
provider was also in talks to raise $10 M from Brand capital, which will be
used for expansion in India for a new product.
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