iKaaz Launches Cost Effective 'Tap & Pay' Reader for Mobile POS
Poster: SySAdmin
Posted on April 3, 2013 at 12:35:01 AM
iKaaz Launches Cost Effective 'Tap & Pay' Reader for Mobile POS
BANGALORE, April 3, 2013 /PRNewswire/ --
iKaaz, a leading provider of secure mobile payment solutions, has launched a new 'Tap
& Pay' reader to enable cashless transactions based on NFC (Near Field Communication)
technology. With the help of NFC, iKaaz is making mobile payments faster, convenient and
more secure. The concept has not taken off in many countries due to the high cost of NFC
terminals and NFC-enabled phones. With a disruptive new technology, iKaaz has broken this
crucial cost barrier and has released a cost effective NFC reader for merchants.
(Photo:
http://photos.prnewswire.com/prnh/20130403/607006)
iKaaz's proprietary NFC Reader can be plugged into any mobile phone to convert it into
a mobile POS (point of sale) device and is priced at INR 1000. In order to engage the
consumer ecosystem, iKaaz offers consumers an NFC Sticker priced at less than INR 75 that
converts any mobile phone into an NFC-enabled phone. Consumers can now make payments with
just a simple tap on the merchants NFC reader.
Speaking about the use cases, Soma Sundaram, CEO of iKaaz, explained, "iKaaz NFC
reader can be used for retail payments, transportation, entertainment and numerous other
touch points to enable cashless payments. iKaaz NFC stickers can be associated to the
mobile wallet and can reside either inside or on the backside of the mobile phone. iKaaz
NFC transactions are highly secure since it supports multi-factor authentication."
The company also reported that the iKaaz platform is currently processing at the run
rate of over 800,000 transactions per month, in less than three months since its launch.
Soma said, "There are several factors that have led to this amazing response. I believe we
have managed to create the right product at the right price point using the latest
technologies."
About iKaaz
iKaaz offers mobile payments platform for enterprises in developed and emerging
markets to enable them to extend cashless transactions to their customers. Developed by
domain experts with many years of experience in the payments domain, iKaaz caters to
customers across the globe. For more information, visit http://www.ikaaz.com
[http://www.ikaaz.com ].
Primary Media Contact: Raj Shree, media.relations@ikaaz.com, 91-80-41903386
Photo:
http://photos.prnewswire.com/prnh/20130403/607006
Photo:http://photos.prnewswire.com/prnh/20130403/607006
http://photoarchive.ap.org/
iKaaz
CONTACT: PRN
BANGALORE, April 3, 2013 /PRNewswire/ --
iKaaz, a leading provider of secure mobile payment solutions, has launched a new 'Tap
& Pay' reader to enable cashless transactions based on NFC (Near Field Communication)
technology. With the help of NFC, iKaaz is making mobile payments faster, convenient and
more secure. The concept has not taken off in many countries due to the high cost of NFC
terminals and NFC-enabled phones. With a disruptive new technology, iKaaz has broken this
crucial cost barrier and has released a cost effective NFC reader for merchants.
(Photo:
http://photos.prnewswire.com/prnh/20130403/607006)
iKaaz's proprietary NFC Reader can be plugged into any mobile phone to convert it into
a mobile POS (point of sale) device and is priced at INR 1000. In order to engage the
consumer ecosystem, iKaaz offers consumers an NFC Sticker priced at less than INR 75 that
converts any mobile phone into an NFC-enabled phone. Consumers can now make payments with
just a simple tap on the merchants NFC reader.
Speaking about the use cases, Soma Sundaram, CEO of iKaaz, explained, "iKaaz NFC
reader can be used for retail payments, transportation, entertainment and numerous other
touch points to enable cashless payments. iKaaz NFC stickers can be associated to the
mobile wallet and can reside either inside or on the backside of the mobile phone. iKaaz
NFC transactions are highly secure since it supports multi-factor authentication."
The company also reported that the iKaaz platform is currently processing at the run
rate of over 800,000 transactions per month, in less than three months since its launch.
Soma said, "There are several factors that have led to this amazing response. I believe we
have managed to create the right product at the right price point using the latest
technologies."
About iKaaz
iKaaz offers mobile payments platform for enterprises in developed and emerging
markets to enable them to extend cashless transactions to their customers. Developed by
domain experts with many years of experience in the payments domain, iKaaz caters to
customers across the globe. For more information, visit http://www.ikaaz.com
[http://www.ikaaz.com ].
Primary Media Contact: Raj Shree, media.relations@ikaaz.com, 91-80-41903386
Photo:
http://photos.prnewswire.com/prnh/20130403/607006
Photo:http://photos.prnewswire.com/prnh/20130403/607006
http://photoarchive.ap.org/
iKaaz
CONTACT: PRN