iKaaz’s mPOS device allows buyers to tap and pay from mobile phones at stores

|June 24, 2015 0

BANGALORE, INDIA: To simplify the mobile payment process for customers, through their smart phone, mobile payments company, iKaaz brings a Tap and Pay terminal named as “MOWA Wave” for merchants. This stand-alone terminal enables merchants to accept payments without the need to install any additional hardware or software.

iKaaz has introduced a protocol that can transform any smart phone into a proximity device, eliminating the need for the customers to buy any hardware like NFC card or NFC phone. The customers need to simply download the free Android -based MOWA mobile app. Using the app consumers can start paying using their phone by simply tapping at these terminals.

These terminals are also pocket friendly for the merchants, and will be available across all fast food restaurants and grocery stores in Bangalore empowering 3,000 merchants. iKaaz charges a minimal merchants transaction fee.

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Soma Sundaram, Founder & CEO, iKaaz commented, “The introduction of MOWA Wave is another leap towards realizing cashless transactions and enables the merchants to accept mobile payments. This doesn’t require merchants to have a phone to operate with the terminal or any complex activities to be set up. They just need to get this innovative device to get started which we plan to deploy in the month of August.”

At present MOWA platform is clocking half a million transactions a month and is expecting to grow up to five million monthly transactions over the next twelve months.

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