Swedish call-screening app Truecaller has acquired Indian multi-bank payments app, Chillr, for an undisclosed sum.
Claimed to be the first multi-bank payments app in India, Chillr was created by Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran.
Chillr is a smartphone application that allows customers to immediately transfer money to anyone in the phone book or to a beneficiary using his account number and IFSC code or UPI ID.
The multi-bank payments app can also be used for payments of bills and mobile recharges.
In 2017, Swedish communication firm launched Truecaller Pay, as part of its strategy to extend its presence in the mobile banking sector.
Truecaller said that the acquired platform will help improve its expertise in mobile banking, and also enables to expand its user base.
As per terms of the deal, Chillr team will turn as the Truecaller Pay team, and Chillr app will be phased out in the coming months.
Chillr team will work at Truecaller’s development center in Bangalore to help the company expand mobile payments services in the country.
To further make payments efficient for users, Truecaller will also incorporate multiple brand-new features into it payments app.
Truecaller said that Chillr has been an innovator in the Indian mobile payment space since 2014 and their team of engineers and designers are having a better understanding of mobile payments and social fabric of India.
Chillr’s partnered banks include HDFC, Andhra Bank, Bank of India, Catholic Syrina Bank, Punjab and Maharashtra Co-op Bank, Bharat Bank, Federal Bank, Greater Bombay Co-operative Bank, and Saraswat Bank.
Chillr can also be used with other banks such as Bank of Baroda, ICICI, Axis, South Indian Bank, State Bank of India, Central Bank of India, Union Bank of India, Canara Bank, Dena Bank, Karur Vysya Bank and others.