NAIROBI, Kenya - Wednesday, June 4th 2014 [ME NewsWire]

(BUSINESS WIRE)-- Following a successful entry into the Nigerian market with contactless mobile payments, Bangalore based iKaaz is now ready to offer its popular NFC and bluetooth powered cloud based payments platform to consumers in Kenya.

Announcing a strategic alliance with Family Bank, one of Kenya’s leading banks, iKaaz along with its local partner EDGE financial systems will bring the revolutionary Tap & Pay solution to Family Bank’s customers. Family Bank 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.

“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,” said Soma Sundaram, founder & CEO of iKaaz. “The iKaaz cloud based payments platform helps banks to quickly onboard and offer this innovative solution to their customers.”

EDGE financial systems (EFSL) is the local business partner that is spearheading the business collaboration within Kenya. Chibuzo Ene, the co-founder of EFSL, 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.”

About iKaaz

iKaaz offers an innovative mobile payments platform for enterprises in emerging markets to enable them to extend cashless transactions to their customers. Developed by Industry experts in the payments domain, iKaaz caters primarily to customers in emerging markets. Visit iKaaz.com for more information.

About Family Bank

Family Bank is one of Kenya’s Premier Financial Institutions with attractive customer and corporate products. Since 1985, Family Bank has been providing affordable financial services to the low and medium income earners as well as to institutions and corporate. Family products and services are well researched and developed and tailor-made to suit market needs.

Contacts

iKaaz

Raj S

+91 80 4190 3386

Media.relations@ikaaz.com

http://www.ikaaz.com

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