Clip snags USD1.5m for mobile payments

Secured funding

Clip, a San Francisco-based mobile payment firm, has received USD1.5m in a funding round from 500 StartupsAccionAlta Venturesand an angel investor.

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.”

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