iKaaz launches social, merchant-centric fund transfer app

appiKaaz, the leading mobile payments company providing innovative Tap & Pay solutions, has launched its latest mobile application MOWA- a simple mobile payment enabler through smart phones, in association with DCB Bank.

The app facilitates consumers and merchants to make and receive payments in an easy and convenient way based on the mobile number. It enables sending money through the mobile to any phone number or to a phonebook contact without sharing private bank account details of sender or receiver. The app supports all banks in India and is available free of cost.

The app requires no pre-payment of account like other wallets as consumers’ money resides in their own bank account until they do the transaction. The users can avail the app by registering with mobile number, name and date of birth.  One must then attach the credit or the debit card as a payment medium and start making payments by entering mobile number of receiver.

MOWA also facilitates small business merchants to accept digital payments which include debit, credit and pre-paid card payments. They can save money by registering with MOWA for an absolutely free POS solution with no need of an additional hardware POS terminal.

Soma Sundaram, founder & CEO, iKaaz, said,Our team has been constantly working towards providing the safest and easiest ways of mobile transactions and driving the economy towards being cashless. MOWA is designed to fulfill this objective. Apart from paying to merchants and sending money to friends and family, the app can also be used for mobile recharge for self and others, pre or postpaid, Data or DTH, bill payments etc.”

“Technology evolution is continuously and dramatically changing how banking and transactions are conducted. We believe this product can provide huge convenience to customers,” said Murali M. Natrajan, managing director & CEO of DCB Bank.

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