Ikaaz deploys solution at Adigas for easy bill payments

Ikaaz, market mover in the NFC based payment space in India has joined hands with traditional south Indian restaurants- Adigas. They are introducing NFC based closed loop payments for Adigas customers. The joint initiative would be first launched at Brahmin’s Coffee Bar in Basavangudi, South Bangalore and then across all the restaurants of Adigas.

Under this initiative, 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.

Soma Sundaram, Founder and CEO of iKaaz, commented, “The NFC based Tap and Pay technology plays a crucial role to bridge the problems faced by restaurant owners and customers with respect to change issues, long queues at the counter, etc. We believe that the solution will work particularly well in places where there is queuing to make payments, especially at food joints. This technology brings in a lot of convenience as one can avoid the consequent delay in making payments and also because it eliminates the need to carry cash.”

Radhakrishna Adiga of Adigas added, “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.”

iKaaz, dedicated to provisioning technologically advanced tap & payment solutions is thus easing monetary transaction processes for customers and merchants through collaborations such as these. Similar ventures are in the pipeline for the mobile payments company.