MyCheck has received a $5M investment from Santander Innoventures Fund in return for an equity stake in the business. The investment kicks-off MyCheck’s Series B funding round. The venture will allow Santander’s retail and commercial customers around the world to benefit from MyCheck’s innovative technology that allows users to check into venues, pay securely, and receive relevant offers and information from their smart device.
A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.
The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]