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mPOS player Square raises $150 million funding

mPOS player Square has raised $150 million in a funding round, led by the Government of Singapore Investment Corporation. The funding round values Square at $6 billion. Existing investors Goldman Sachs and Rizvi Traverse Management participated in the round. The new funding round comes amid a frenzy of activity in the mPOS space, following launches by Amazon, and the long-awaited… Continue reading >>

World Payments Report 2014

Non-cash payments volumes are expected to grow 9.4% to reach 366 billion transactions in 20131, fueled by strong growth in developing markets and the use of credit (up 9.9%) and debit cards (up 13.4%[1]). With the continued acceleration of electronic and mobile payments growth and ongoing regulatory pressures, the payments industry is seeking to find new and innovative ways to… Continue reading >>

First Data hits India through mPOS roll out

First Data is to roll out their mPOS solution that is set to make payment acceptance faster and secure for the Indian merchant community in partnership with Mahindra Comviva. Th solution enables businesses, including small and medium enterprises and service professionals, to utilize their mobile phone as a POS device and drive transaction volumes by letting consumers use card-based payment instruments. This… Continue reading >>

Point of Sale peripherals and the Barcode scanner

The Point of Sale systems in use in many retail businesses nowadays are not only some sort of fancy cash register. Gone are the days of manual encoding and punching of items purchased. In comes faster service as shopping habits of customers have drastically changed since. Customers are into quick services as many individuals are trying to scramble for time… Continue reading >>

mPOS player Payleven overhauls UK pricing model

European mPOS specialist Payleven is to drop its fixed pay-as-you-go transaction fees for UK customers that process more than £2,500 per month. A new tiered pricing model will see transaction fees start at 2.75% and drop to as little as 1.5% depending on how many transactions the merchant processes. A small business using Payleven, which processes more than £2,500 per… Continue reading >>

Ingenico and First Data launch mPOS in India

Ingenico Roam, part of Ingenico Mobile Solutions, has partnered with global payment processor First Data to launch an mPOS solution into the Indian market. Leveraging ROAM’s mobile solution and Ingenico’s global EMV expertise, First Data India has launched its own fully-branded chip and PIN mPOS solution. This new mPOS offering enables merchants in India to accept payments, incorporating ROAM’s RP750x… Continue reading >>

Square overhauls Cash app for text-based P2P payments

mPOS player Square has overhauled its Cash P2P payments app to enable users to send and receive funds via text. The latest version of Square Cash gives users the ability to send or request money from everyone in their address book using just their phone number, even if the recipient doesn’t have the app. Customers were already able to send… Continue reading >>

mPOS player Square launches merchant analytics tool

mPOS specialist Square has launched Square Analytics, a merchant analytics tool, as part of its Register service. Square Analytics derives actionable data from merchants in order to increase sales. Square Analytics integrates the full suite of Square Register products including Pickup, Invoices, and Appointments. Building on the sales data to which Square sellers already have access, the new mobile-optimised Square… Continue reading >>

Square to extend cash advance service

mPOS player Square is extending its small business cash advance financing programme after securing investment from Victory Park Capital. The Square Capital programme is aimed at small businesses using its Square Register technology, meaning they do not have to go through an application process. Instead, Square analyses the processing volume and history data it holds on its users to determine… Continue reading >>