Ride-hailing and mobile payments company Grab has acquired iKaaz, a Bangalore, India-based payments technology startup, to power its growth in the Southeast Asia region.
The iKaaz mobile payments platform supports Near Field Communication, QR codes, audio-based payments, as well as online, person-to-person and bill payments with technology Grab plans to integrate into its services as it expands, the company said in a Wednesday press release.
“IKaaz’ technology has served merchants and partners across different industries and in different settings, from parking lots and airports to retail stores and hotels,” said Jason Thompson, managing director of GrabPay for Southeast Asia, in the release.
The iKaaz team will join Grab’s research and development center in Bangalore; financial terms of the deal were not disclosed.
A Strides Transportation Pte taxi, operated by SMRT Corp., displays an advertisement for the ride-hailing application Grab, operated by GrabTaxi Holdings Pte, in Singapore, on Tuesday, July 12, 2016. Buyers in one of the world's most expensive car markets just missed their chance to snag one at the cheapest price in five years. Car-ownership permit costs in Singapore have gained since February after ride-hailing companies obtained licenses for their fleets and the regulator eased rules on vehicle loans in May. Photographer: Ore Huiying/Bloomberg
Democratic lawmakers made the stablecoin markup into a marathon event, leading off with amendments that would have addressed concerns about conflicts of interest between elected officials like President Donald Trump and stablecoin oversight.
Visa and American Express are both reportedly trying to lure Apple's lucrative credit businesses away from Mastercard. But the battle over processing rights is just as much about accessing the technology company's digital wallet as it is about boosting transactions.
Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.
The state's banking commissioner said the married founders of Valuex Research and Valuex Fintech used investor money for rent, plastic surgery and shopping instead of funding a promised investing tool.
With South Florida's economy expected to continue outperforming the rest of the nation, Banesco USA is laying plans to extend its reach into Broward, the wealthy and populous county just north of its Coral Gables home base.
A three-judge panel will hear an appeal by the Trump administration of a preliminary injunction that has blocked the government from dissolving the Consumer Financial Protection Bureau.
