Truecaller acquires payments startup ChillrTruecaller has acquired payments startup Chillr to strengthen its payments business in the country. The Swedish company said it will roll out credit and other financial services to Indian users in the coming months.
Chillr co-founder Sony Joy will join as the vice president of Truecaller Pay, while the full team will be absorbed by the company. The Stockholm-headquartered company will also double its team size in India.
Truecaller has a user base of 150 million users in India. It also has 300 partners in the country, where it will leverage its payments feature.We want to be the top three payments ecosystem in the country in the next few months,” Joy said. Truecaller had entered the digital payments space in India with UPI last year.
Truecaller had enters the digital payments space in India with UPI last year. The company is now integrating payments as a core part of its offering, co-founder Nami Zarringhalam told ET in April this year.
“By acquiring Chillr, we are strengthening our plans to increase mobile payments adoption amongst our user base,” said Zarringhalam adding that users will soon be able to make bill payments using its service in a matter of weeks.
The app will have dedicated tabs for banking and payments respectively. The banking tab will have features like Send and request money, scan and pay among others.
It will also allow users to transfer money between their own accounts and pay to any mobile number connected to the UPI system, thereby skipping the need for them to remember the recipient’s virtual payment address (VPA). The Payments tab will offer the ability for users to pay utility bills, recharges and bookings among others.