#mobile payment solution company, iKaaz has partnered with Adigas, a popular traditional South Indian Restaurants to launch NFC based closed loop payments for Adigas’ customers.
The joint initiative would be first launched at Brahmin’s Coffee Bar located in Basavangudi, South Bangalore and then across all the other Restaurants of Adigas.
The Problem Statement
Tendering the exact monetary change is still a big challenge in the Retail and Restaurant business, which continues to cause a lot of inconvenience to the Customers & Merchants both.
“We often find it difficult to provide loose change to customers. Coins of smaller denominations like Re 1 and 2 are becoming scarce and sourcing them from regular channels like banks and the RBI is cumbersome. Sometimes we are forced to source loose change from agents who charge around 10% commission for the coins. The solution provided by iKaaz will eliminate change issues to a large extent and based on the feedback from customers; we would like to extend iKaaz’s solution to Adigas’ food joints and restaurants across Bengaluru.” [Radhakrishna Adiga , Head of Adigas]
NFC Cards/tags are issued to customers mapped to their mobile phones to enable micropayments. Customers can load amounts between INR 100 to INR 10,000 with the annual transaction limit set at INR 1 lakh.