Square clone Leaf has raised USD20m for its point of sale mobile payments technology. Funding came from Heartland Payment Systems, which handles payments for local merchants and claims to have more than 60,000 customers. Leaf has 1,000 customers to date and faces fierce competition from not jut Square but a host of rivals seeking to gain ground in the space.
“While discussing a major distribution deal with Heartland, it became clear that we have much deeper synergies than simply selling together. Heartland is spearheading a new wave of innovation across the industry that aligns with our mission of creating an open platform that empowers business owners to aggregate valuable services under one digital fingerprint,” said Aron Schwarzkopf, co-founder and CEO of Leaf.
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.