After launching in 2011, TradeHill was forced to close within six months amidst widespread identity fraud. A fall-out with the digital payments outfit Dwolla as well as other regulatory concerns was also to blame. However, following investment seed funding and a re-launch in March, the company has partnered miiCard which provides users with “digital passports” verifying online identity.
“We are committed to exceed government compliance standards at every opportunity. miiCard’s identity proofing capabilities allow us to identify red flags early in a transaction to better support anti-money laundering efforts,” said TradeHill Founder Jered Kenna.
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.