Categories: Tech & Society

Mobile Payment Platform Paydiant Raises $15 Million in Funding

paydiantpaydiant

Paydiant.com, a startup that has developed a mobile payments platform that banks, retailers, and payment processors can implement in their own apps, announced today that it has raised another $15 million in funding. The company has now raised around $35 million.

Paydiant says the round was kicked off by one of its Fortune 500 customers. Existing investors North Bridge Venture Partners, General Catalyst Partners Stage 1 Ventures, and another one of Paydiant’s customers, also participated in the round. Not surprisingly, the company says the funding will be used for product development, marketing and sales.

“Everybody that’s trying to solve the mobile payments problem seems to have Visa envy,” Paydiant co-founder and CEO Chris Gardner told in an interview last year around its last round of funding. “We said, hey, regardless if that becomes a viable model, we believe there’s an opportunity for someone to offer mobile wallets and offers solutions to brands.”

Paydiant’s platform is notable for working with existing point-of-sale terminals, ATMS, smartphones, and other devices, without the need for any new hardware. Instead of betting on near-field communications technology like the mobile-carrier backed Isis, Paydiant lets you scan a barcode with your phone’s camera to process a payment. The company claims its platform also doesn’t make your account credentials available during a transaction, which lowers the potential for fraud.

Via: VentureBeat

AddThis Website Tools
Team TechPanda

Recent Posts

Quantum leap or quantum sleep? Why the future of superfast computing is still loading…

Is quantum computing truly just five years away from real-world applications or will we be…

19 hours ago

How India’s own cloud can empower MSMEs, EdTech & Health Tech with safer data ecosystems

How India’s own cloud can empower MSMEs, EdTech & Health Tech with safer data ecosystems…

2 days ago

New tech on the block: Blockchain, cybersecurity, ecommerce, cryptocurrency, data management, no code, cloud & workplace tools

The Tech Panda takes a look at recent tech launches. Blockchain: A platform is designed…

3 days ago

Your AI is now mine: A subtle but alarming new contest between cyber attackers & defenders

AI might be assisting today’s cyber defenders to accelerate and improve threat detection, but the…

3 days ago

The AI-driven CFO: How Artificial Intelligence is redefining financial leadership in the tech era

The Chief Financial Officer (CFO) is no longer the only one responsible for budgets and…

6 days ago

From Roblox to Python: How game development educates kids on AI principles

AI is no longer in the distant future, discussed only in university classrooms or interactive…

1 week ago