Kenya: iKaaz partners Family Bank for NFC m-payment solution

Monday 9 June 2014 13:29 CET | News

Bangalore-based mobile payment solutions provider iKaaz Software has expanded into Kenya and teamed up with financial institution Family Bank.

As part of the partnership, iKaaz will provide the customers of Family Bank with its Near Field Communication (NFC) and Bluetooth powered contactless payment solutions through Tap and Pay method.

iKaaz, along with its local partner EDGE financial systems (EFSL) is set to provide Family Bank’s customers checkout solutions at retail stores, as well as the option to use the same payment tags to pay at transportation check points.

Also, customers are enabled to link the iKaaz NFC tag to their bank account, pre-paid account, debit or credit card, and once that is done, the device acts as an extension of that particular account.

The firm also launched an NFC-enabled reader for merchants/enterprises to use as a mobile POS. In addition to the NFC support, iKaaz also supports SMS-based payment transactions.

In February 2014, iKaaz launched its tap and pay offering in Nigeria.

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Keywords: Kenya, iKaaz, Family Bank, NFC, m-payment solution, mobile payments, contactless payments
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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