New mobile payment platform
Bangalore based mobile payments solution provider, iKaaz, has launched its new mobile payment platform for enterprises which will broadly cater to two main areas of the payments market (view press release).
The iKaaz Consumer Wallet for Enterprises will allow businesses such as banks, operators and merchants to offer mobile wallets to their customers.
The iKaaz M-POS provides a system that allows payments to be settled electronically using a mobile phone. A further feature of the new system is the iKaaz Tap & Pay, which allows merchants to receive payments with a tap on the phone at the checkout terminal by using NFC technology.
Founder and CEO of iKaaz, Soma Sundaram said of the iKaaz M-POS solution: “On 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 reducing the transaction processing fees typically paid for conventional settlement.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
