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.
DigiMo, a mobile payment system provider, announced today the completion of its new platform for mobile payments, requiring no hardware or software modification at either the Point-Of-Sale (POS) or mobile device itself, whether cell phone, tablet computer, or smart phone.
According to the company, the system is integrates with customer loyalty clubs, allowing for mobile payments, coupons, ticketing, and much more.
To use DigiMo, consumers start by registering for the service online, supply their preferred billing method and phone number, receive a PIN, and pay quickly and easily at any participating retailer.
The service is designed for online companies, credit card companies and mobile operators who want to launch a wide-scale mobile payment service at multiple retailers without requiring POS integration at each one.
“Over the past decade, numerous attempts have been made to launch a wide-scale mobile payments service. Up to now, no agreement existed regarding the technological standards and business model, due to heavy investments associated with the implementation,” said Yossi Yarkoni, DigiMo’s CEO. “We’ve avoided this by developing an independent system that works at virtually any point-of-sale, replacing cash and credit cards with mobile handsets.”
With DigiMo, retailers, telecom companies, and financial service providers acquire a mobile payment solution that requires virtually no investment. With only one intermediary in the payment process, retailers can enhance the customer experience. The company says their solution integrate customer loyalty programs, coupons and interactive discounts, and Telcos, credit card companies, and financial institutions can white label DigiMo as a value-added service.
The company notes that its technology addresses all aspects of payment security, including end-user privacy, non-repudiation and administrative privileges. The solution can be operated from almost every handset with 2G and up or as an application for smart phones.
Source: PR Distribution Online