Transaction volume doubling every six weeks
LevelUp, the app that lets you pay by phone, has announced the redesign of its mobile app and a series of new exec hires at parent company SCVNGR. The updated app (available for iOS and coming to Android soon) now enables users to search for merchants by category, view their transaction history and a local map listing the places they’ve visited before. (view press release)
The new execs include Harold Prokop, former SVP of engineering at Akamai Technologies, who is joining as CTO, and Mark Amabile, former global CFO at Omnicom Media Group, who is joining as CFO. Prokop will be responsible for scaling the LevelUp’s payment architecture and expanding the engineering team whilst Amabile will be focusing on the company’s financial operations as, according to SCVNGR, the company’s transaction volume doubles approximately every six weeks.
“Our plan is to grow LevelUp into the largest mobile payment network in the country, and we’re building an insanely talented exec team to achieve that goal…fast,” said SCVNGR Chief Ninja Seth Priebatsch.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
