Clip claims that its online payment solution will enable merchants in South America to more easily process card transactions and will use the funding to bring its solutions into the Mexican market.
Adolfo Babatz, chief executive and co-founder commented, “We believe we can make a vast improvement in the system.The pain points around payments are humongous. Whatever the reason, this market hasn’t worked for credit cards.”
“I worked at a large technology company before, and when they exported their technology, it was fixed, with not much opportunity to adapt it,” he said. “With our focus on security, we can give consumers confidence that they will be charged the right amount when they process the card.”
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.