Paydiant.com, a startup that has developed a mobile payments platform that banks, retailers, and payment processors can implement in their own apps, announced today that it has raised another $15 million in funding. The company has now raised around $35 million.
Paydiant says the round was kicked off by one of its Fortune 500 customers. Existing investors North Bridge Venture Partners, General Catalyst Partners Stage 1 Ventures, and another one of Paydiant’s customers, also participated in the round. Not surprisingly, the company says the funding will be used for product development, marketing and sales.
“Everybody that’s trying to solve the mobile payments problem seems to have Visa envy,” Paydiant co-founder and CEO Chris Gardner told in an interview last year around its last round of funding. “We said, hey, regardless if that becomes a viable model, we believe there’s an opportunity for someone to offer mobile wallets and offers solutions to brands.”
Paydiant’s platform is notable for working with existing point-of-sale terminals, ATMS, smartphones, and other devices, without the need for any new hardware. Instead of betting on near-field communications technology like the mobile-carrier backed Isis, Paydiant lets you scan a barcode with your phone’s camera to process a payment. The company claims its platform also doesn’t make your account credentials available during a transaction, which lowers the potential for fraud.
Via: VentureBeat
In my previous benchmarks [1, 2], I showed that LLMs can successfully solve most Leetcode problems.…
Organizations are investing heavily in AI with the promise of faster work, better collaboration, and…
Cloud security firm Britive announced that its unified privileged access management (PAM) platform is now…
The Tech Panda takes a look at recent launches in the superfast field of Artificial…
The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking…
India has one of the most extensive road networks in the world, growing at its…
