Mobile Payments Startup iKaaz Launches in Kenya

Bangalore based mobile payments company iKaaz has launched its services in Kenya in partnership with Kenya’s Family Bank.

iKaaz’ which had raised seed funding in January, had launched its contact-less payment solution in Nigeria earlier.

The service, an NFC based tap and pay solution, will be provided to the customers of Family Bank, a financial institution founded in 1985.

Kenya is one of the countries where mobile payments have been successful for long. Nearly a dozen services including M-Pesa (launched in 2007) compete in markets like Kenya, where mobile payments are considered safer.

The company was founded by former Nokia Money (now shut) team in 2012.

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