Grab Announces Acquisition of Bangalore Based Payments Startup
Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has acquired Bangalore-based payments startup iKaaz. The rich functionality of iKaaz’ mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Already Southeast Asia’s #1 ride-hailing platform, Grab is expanding across all markets in Southeast Asia in 2018 with the goal of becoming the region’s universal payments platform.
Launched in 2014, iKaaz’ technology was built to work in India’s challenging internet conditions and enable effortless and fast payments for thousands of merchants. ikaaz’ technology stack encompasses a range of innovations, such as NFC, QR-code, audio-based p...