India's iKaaz taking its mobile payments solution to Kenya

Following its entry into the Nigerian contactless mobile payments market, Bangalore, India-based iKaaz is now set to offer its NFC- and bluetooth-powered cloud-based payments platform to consumers in Kenya, according to a company announcement.

The company has announcend a strategic alliance with Kenya's Family Bank that will see iKaaz, along with local partner EDGE financial systems, bring its "Tap & Pay" solution to Family Bank's customers. The bank's customers can now expect to move faster through checkout at retail stores as well as be able to use the same payment tags to pay at transportation check points, the company said.

"Kenya is a global leader in mobile payments, and we are extremely encouraged to see that our 'Tap & Pay' solution will play an integral role within the Kenyan mobile payments ecosystem," iKaaz founder and CEO Soma Sundaram said in the announcement. "The iKaaz cloud-based payments platform helps banks to quickly onboard and offer this innovative solution to their customers."

EDGE financial systems is the local business partner spearheading the business collaboration in Kenya. Chibuzo Ene, the co-founder of EFSL, said his firm has major plans for NFC contactless payments in Kenya: "We are delighted to have been involved with iKaaz's expansion plans for Kenya and are extremely excited to get an endorsement of Family Bank, a prestigious institution. We are true believers of NFC, and we are sure it will play a huge role in the payments space for many years to come."

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