The funding coincides with the launch of Citrus’ checkout service that it claims will allow transactions to be processed in three to five seconds. Launched in 2011, the company claims to have partnerships with 30 Indian banks includingHDFC Bank, ICICI and State Bank of India. Citrus says the capital will be used to expand its technology teams.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
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.