Ex-Nokia Money Team Launches iKaaz Tap & Pay Mobile Payments Platform for Enterprises

  Ex-Nokia Money Team Launches iKaaz Tap & Pay Mobile Payments Platform for

PR Newswire

SEATTLE, October 17, 2012

SEATTLE, October 17, 2012 /PRNewswire/ --

iKaaz, a Seattle-based mobile payments solution provider, launched its new
iKaaz mobile payment platform for enterprises. The iKaaz platform broadly
caters to two major segments.

The iKaaz Consumer Wallet for Enterprises allows enterprises including banks,
operators, and merchants to offer mobile wallets convenience to their
customers for quick and easy payments. Soma Sundaram, Founder and CEO of
iKaaz, said, "The iKaaz solution can be delivered in the form of a mobile app
across all types of mobile phones. With the iKaaz app, account holders of a
bank / prepaid can initiate money transfers and consumers can complete
merchant transactions and pay bills with just their mobile phones."

The iKaaz M-POS solution allows merchants to replace expensive POS equipment
with just a mobile phone that settles payments electronically. With the iKaaz
Tap & Pay solution, that leverages NFC (near field communication) technology,
merchants can receive payments from customers with just a tap of a phone at
the checkout terminal. This revolutionary concept aims to change the way
shoppers go about their daily shopping at their favorite retail outlet. No
more fumbling for cash or swiping of the card; a simple tap of a phone will
complete the payment."On the 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," said Soma Sundaram.

The product launch video is available at ikaaz.com

About iKaaz

iKaaz offers a mobile payments platform for enterprises in developed and
emerging markets to enable them to extend cashless transactions to their
customers. Developed by some of the core team members of the Ex-Nokia Money
team with many years of experience in the payments domain, iKaaz caters to
customers across the globe.For more information, visit http://www.ikaaz.com.

Media Contact
Raj Shree
Communications Manager

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