Mobile payment solutions firm SALT Technology, has secured funding of USD2m from private investors with networks across the mobile, financial and payments technology sectors (Reports StrategyEye). The investment will be used to develop the company’s products. The capital will also be used to drive a sales and marketing push aimed chiefly at North America and European markets.
SALT CEO and president, Brian Bogosian, says the technology will support NFC, barcodes, cloud-based payments, online purchases as well as peer-to-peer payments and has already attracted the interest of at least one large mobile operator. With 36% of consumers now favouring mobile payment methods the market is predicted to continue its expansion reaching USD90bn by 2017 in the US alone.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.