Truecaller has been hinting towards expanding its scope into the digital payments segment, the company has since acquired Chillr, India’s first multi-bank payments app.
The strategic investment into the payment space, is in light with the company’s announcement in March last year of its foray into the digital payments segment in India.
“Since launching Truecaller Pay in India in 2017, we’ve seen an increasing number of use cases to make the lives of our users in India easier. We see a lot of synergies and growth patterns in Sub-Sahara Africa, therefore we think it make sense to explore the digital payment space more seriously.” says Truecaller Co-founder & Chief Strategy Officer, Nami Zarringhalam.
With the launch of Truecaller Pay 2.0, the company has brought Banking & Payments features to the forefront of its app, and in the coming months Truecaller is planning on rolling out Credit & other financial services to the masses in a mobile-first way in India. The company is now looking at ways to enter the payment space in Sub-Sahara Africa.
Though details of the acquisition have not been made public knowledge yet, we will continue to update you once we get the information.
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