iKaaz ties up with DCB to offer NFC payment solutions

Bangalore-based mobile payments solutions provider iKaaz has tied up with DCB Bank to offer tap and pay mobile payment which will allow consumers to perform cashless transactions across various retailers in India, even as mobile phone users slowly take to cashless micro payments through mobile wallets. The strategic tie-up with the bank will allow iKaaz's service to perform like an open wallet, into which cash can be loaded, used at retail points and taken out when required, said chief executive officer and founder Soma Sundaram, a former Nokia Money team member.