The company is a white-label service aimed at retail banks and is the first fully licensed and regulated payments infrastructure running on Google’s Cloud Platform. The service aims to make it easy for financial institutions to create mobile payments services and more.
The company is releasing its tech as a turnkey solution for banks who are lagging behind the curve and haven’t gotten their act together in the mobile banking space. Instead of having to invest huge amounts of time and money in developing their own solutions, Auka claims that a full end-to-end integration with a bank takes less than three months. The mobile solutions can be customized with branding, and can include real-time peer-to-peer payments, point-of-sale solutions and merchant services.
Auka launched mCASH, its first mobile payments platform, back in 2014. mCASH targets entry-level mobile payments for small online stores, sending money to friends and family and running small retail operations such as cafes and restaurants, concerts and events.
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