Truecaller set to make deals with Chillr to foray into digital payments
Sony Joy will be the vice-president of Truecaller Pay
Technology
News: Phone number search engine Truecaller on Wednesday announced
a strategic investment into the payments space in India by acquiring Chillr,
the country’s first multi-bank payments app.
Truecaller co-founder and
chief strategy officer Nami Zarringhalam said the founders of Chillr — Sony
Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran — will join Truecaller.
Sony Joywill be the
vice-president of Truecaller Pay.
Zarringhalam said the
company intended to leverage its full reach of over 150 million users in India
as well as its 300-plus existing partnerships in the country.
“By acquiring Chillr, we
are reaffirming our commitment to mobile payments and strengthening our plans
to raise its adoption amongst our user base,” Zarringhalam said.
He, however, did not disclose the amount paid and the terms
and conditions for acquiring the Chillr, which was launched in 2014.
Truecaller has 65 employees
in India.
Chillr co-founder Sony Joy
said: “While ICICI partnership is already there with Truecaller, going forward
we will have multiple bank partnerships also. We are doing a multi-bank model
with UPI. So you will see lot more banks on the platform working closely with
us.”
On the issue of privacy getting breached and wrong details
fed into Truecaller’s system, Zarringhalam said: “What started to happen was
that people started tagging other users. That was an issue.
A couple of months back we
rolled out the capabilities of users themselves being able to determine what
their types were.”
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