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According to Bank of America – Merrill Lynch Global Research the Indian payments market is set to grow at a CAGR of 12% in the coming year. The Financial Express reports that the country’s payments market was $15.5 trillion in FY15 and will see the share of mobile payments grow to 10% in the next 7 years.
This steadfast market growth is definitely a determinant of start-up firm Chillr’s success. But there is more to be said about this recently founded money transfer app, which has in its first year been the only Finance App to make it to the iOS App Store Best of 2015. With over 1 million downloads and nearly 25K transactions per day, Chillr is definitely a worthy competitor in the Indian payments market. Showing no signs of slowing down, their CEO Sony Joy has said that they plan to tie up with over 15 banks by the end of this fiscal year. The expansion plans revolve around adding more banks and merchants to get more users onboard and adding more features to the app.
Chillr, often described as ‘Whatsapp for money’, is India’s 1st multi bank payment application that allows immediate transfer of money to friends in your phone book in an easy & secure manner. To start using Chillr all you need is a smartphone & a bank account. Chillr is now available on iOS, Android and Windows.
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