One of the early investors in payment processing start-up Stripe is upping its investment. Not in the company itself, valued earlier this year at near $2bn, but in the ecosystem of other start-ups that is slowly coalescing around it.
General Catalyst, an early investor in Stripe, is putting up $10m fund to invest in start-ups that offer services, like analytics or other business analysis tools, tied to the company’s Stripe Connect platform. Read more
Payments start-up Square is raising at least $100m in a funding round that valued the group at $6bn, up from a $5bn valuation earlier this year, according to a new company filing.
Paypal will soon start to enable merchants on its payments processing network to accept bitcoin, a sign of the growing acceptance and maturation of the volatile digital currency sometimes derided as magic internet money.
Square, the payments processing start-up, is looking for new users for its credit card device among the US’s growing Latino community.
The company, co-founded by Twitter’s Jack Dorsey, is today unveiling Spanish language support and software in hopes of tapping into the purchasing power of America’s more than 50m Latinos. Read more
Coffee and techies go together like donuts and policemen, one the voracious consumer of the other. They have named programming languages after the stuff. And so the alliance between Starbucks and Jack Dorsey’s Square mobile payments start-up seems quite natural.
Starbucks has never been shy of experimenting with technology, having been one of the first US coffee shop chains to offer customers free wi-fi access. Starbucks also has its own mobile app, which allows customers to pay for their coffees using a phone. Although these mobile payments are still just a tiny fraction of overall revenues, it is considered one of the most successful mobile payments systems in use so far. Read more
Now there is another mobile wallet to add to consumer confusion. The UK’s three largest mobile operators, Vodafone, O2 and Everything Everywhere, on Thursday said they had teamed up to create a single platform for making payments by mobile phone. Read more
It’s easy to see why Google and its rivals would have their eyes set on mobile payments, but less easy to see how they can break into this market. With its Google Wallet announcement on Thursday, the search company has just come up with an answer. Read more
Jack Dorsey, the creative talent behind Twitter, has clearly taken a leaf from Steve Jobs’ playbook. But revolutionising in-store payments will be a lot harder than persuading people to pay for digital music. Read more