The payments startup Stripe, created by Irish brothers Patrick (pictured) and John Collison, has been valued at $3.5 billion following a cash injection of $70 million from venture capitalists.
The latest round of funding comes from investors including Sequoia, General Catalyst, Founders Fund, Khosla Ventures and Thrive Capital. The company has raised $210m in total.
Based in San Francisco, Stripe is a payments processor that facilitates online and mobile transactions and has been billed as a possible rival to PayPal, which issued a failed takeover bid last year. Merchants are able to get set up on the system in a matter of minutes in order to run credit card payments and bank transfers in 139 currencies, as well as Bitcoin. Stripe software can also be built into payment apps by developers.
The company has recently entered into a string of high profile partnerships with technology companies. It was selected to power Facebooks’s “Buy” button and joining Visa and First Data to become one of the first Apple Pay partners in September.
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
Just 31% of Brits know who's on the back of the new £5 polymer banknote, says new research from Barclaycard, which also found that the number of cash users continues to drop as people prefer using more digital methods of payments.
Nine out of ten consumers use their smartphones more than any other device, and consumers would also prefer to use biometrics over PINs - with fingerprints being the preferred method, according to a new Mastercard survey.