There is light at the end of the payments tunnel. It’s from the train called consolidation.
Just two years ago, peer-to-peer payment app Chillr was a breath of fresh air in a market where competition was mostly walled-garden wallets or cumbersome bank transfers. Chillr’s technology and user experience set out to make fund transfers from bank accounts easy and quick.
And now it is in the middle of seeking a sale. It has two big suitors in the form of caller identity service, Truecaller, and one of India’s largest private sector banks, HDFC Bank, confirmed three sources close to the development.