The functionality of iKaaz’ mobile payments platform and its team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Grab is expanding across all markets in Southeast Asia in 2018 with the goal of becoming the region’s universal payments platform, claims the company.
Launched in 2014, iKaaz’ technology was built to work in India’s challenging internet conditions and enable services for thousands of merchants. Ikaaz’ technology stack encompasses NFC, QR-code, audio-based payments as well as bill payments, online payments and P2P. According to the company, this flexibility and scalability make it ideally suited for Southeast Asia’s diverse payments landscape and large unbanked population.
GrabPay has seen explosive growth in its services. Today, claims the company, the Grab platform already facilitates more than 3.5 million transactions daily and facilitates over a billion transactions per year.
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