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Updated: iKaaz Launches Mobile Payment Solutions Focusing On NFC

Updated below iKaaz, a Bangalore-based mobile payments solution provider, founded by ex-Nokia Money team, has launched two new mobile payment platforms for enterprises and consumers -- iKaaz Consumer Wallet for Enterprise and iKaaz mPOS. Its consumer wallet for enterprise provides enterprises including banks, operators, and merchants with a mobile wallet in the form of a mobile app on smartphone operating systems such as Apple's iOS and Symbian. The mobile wallet also works on low end phones via SMS channel. To use this, customers need to register for a wallet, transfer funds to the wallet and start transacting. It should be noted that since the Reserve Bank of India (RBI) doesn't allow cash-out facility for mobile wallets, this again remains a semi-closed wallet where customers cannot withdraw money once deposited. Customers can send money to any phone user registered (peer to peer), unregistered, or to any other external bank accounts from their mobile phone. The service also offers mobile bill payment facility for electricity, telephone, mobile, insurance, DTH recharge, mobile recharge, etc. and can be configured to send SMS notifications for payments and reminders for due dates. mPoS: Apart from that, iKaaz has also launched iKaaz mPOS solution that provides merchants with a point of sale solution without spending a large sum. For the same, the company has launched Tap & Pay, an NFC based solution for merchants where they can receive payments from customers with just a tap. Merchants will have to provide their customers with an NFC tag that they can…

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