Cover, an app for paying restaurant bills, has raised USD1.5m in a funding round led by O’Reilly AlphaTech Ventures, with further participation from an assortment of angel investors. The New York-based mobile app, still in private beta mode, is designed for large groups at restaurants that need to split a single bill.
By logging in at the start of a meal, users can have their meal automatically billed to their card. There is an additional setting to allocate payment to anyone covering the cost of another person’s meal.
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.