TechCrunch: Mobile payment startup Square has been gradually building out the products it offers to small businesses to position itself as a one-stop shop for their various front-of-house and back-office needs. Today sees the latest development on that theme: the company has launched Square Payroll, software for businesses to pay and track taxes and other costs for both hourly and salaried employees. The product, initially available only in California, is priced at $20 per month, with $5 per employee on top of that. (more…)
POS/mPOS and online acquiring
TECHCRUNCH: PayPal teamed up with Uber back in 2013 to offer the U.S. taxi-hailing service’s customers additional payment options. The world has changed a lot in those 18 months — Uber is now present in over 300 cities with China set to soon become its largest market — so, with that in mind, PayPal and Uber have extended their partnership to cover an additional 9 countries worldwide. (more…)
TECHCRUNCH: One of the biggest issues with online marketplaces is that buyers and sellers rarely know or trust one another, which often leads to disputes between the two parties. PromisePay aims to fix this issue by providing marketplaces with a payment platform to manage the entire transaction. (more…)
TechInAsia: Vladislav Solodkiy, Life.SREDA VC: Last week Jack Dorsey, co-founder and CEO of Square, the world’s third largest fin-tech company by market capitalisation, also took a role of iCEO at Twitter. On top of that, a new wave of rumours about the company to go public by the end of this year hit the media. What do the Asian markets have to offer in respond to this? (more…)
BUSINESS INSIDER: Stripe, the £3.2 billion ($5 billion) US online payments start-up, is rolling out across the Nordics, taking it head-to-head with one of Europe’s most valuable fintech businesses. Stripe’s co-founder John Collison announced at MoneyConf in Belfast today that the company is launching across Sweden, Denmark, Norway and Finland this week. That puts it in direct competition with Klarna, a rival Swedish online payment company valued at £650 million ($1 billion).
TECHCRUNCH: In the rush of companies crowding into the mobile payment space, a startup out of Europe has announced more funding to grow its footprint and add contactless hardware.SumUp, a startup originally founded in 2012 in Berlin that competes against the likes of iZettle and Rocket Internet’s Payleven, has raised an undisclosed amount led by Swiss backer Venture Incubator. The exact figure is not being disclosed, but SumUp’s CEO Daniel Klein confirms that the total raised by the company to date is now $45 million (€40 million) and that this latest round values the company in the “healthy hundreds of millions.”
TECHCRUNCH: As PayPal moves closer to its spinoff from parent eBay, the company continues to expand the services it will have to generate revenue as a standalone business. In the latest development, today PayPal is expanding One Touch on the web — a widget that lets people use PayPal to pay for goods on third-party websites without needing to re-enter passwords or their user IDs — outside of the U.S. The first markets for its international rollout will be the Canada and the UK. (more…)
TECHCRUNCH: Turkey’s Iyzico, which provides a platform to let e-commerce sites and other apps easily accept online payments, has raised a $6.2 million Series B. Leading the round is International Finance Corporation (IFC), the World Bank’s investing arm, while Istanbul-based VC 212, Endeavor Catalyst, and Austria’s Speedinvest also participated. The startup has now raised $9.4 million in total since it was founded in 2012. (more…)
TECHCRUNCH: Digital commerce company PayPal is moving to establish itself as “more than just a button” to a global payments platform as it readies a split from parent company eBay later this year. “We’re coming into the market at a time when the financial services industry is going through some fundamental shifts,” new PayPal CEO Dan Schulman said at PayPal’s Commerce: Rewind event today. “We’re really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.” (more…)
TECHCRUNCH: When Square bought food delivery startup Caviar last summer, it seemed like a strange acquisition for the payments company. But over time it’s become clear that Square is committed to competing in the increasingly crowded food-delivery segment. Thanks to its recent acquisition of San Francisco-based food delivery startup Fastbite, it’s adding a whole new option to Caviar that will reduce the cost of meals and time customers spend waiting for them to be delivered. By doing so, it will compete more directly with local food delivery services like Sprig and Spoonrocket. (more…)
LifePay has launched 2 new products in its line: online acquiring and SME-lending for working capital (in a month they are launching POS-lending – when entrepreneurs sell their goods and services on credit – this model is used by FinanceIt) (more…)
TECHCRUNCH: Fundbox, a company that loans businesses money for outstanding invoice payments, has raised $40 million to grow its own business in the trillion-dollar alternative lending market. The Series B round was led by General Catalyst with participation from NyCa Investment Partners and help from existing backers Khosla Ventures, Shlomo Kramer and Blumberg Capital. (more…)
TECHCRUNCH: The Internet of Things promised us a deeper connection with our objects. We would be hugging our toasters, marrying our fridges, and sleeping with our bathroom scales. But nothing out there so far could talk back to us until the Woolet. The Woolet is a wallet that contains a small beacon that connects to your phone. When you leave (or lose) your wallet, the phone will buzz to let you know. More interestingly, the Woolet has a small buzzer built in that will notify you if you leave the house without your phone – a pretty useful feature if your Fitbit keeps making you leave the house. Finally Woolets can send out APB signals that ask other Woolet owners to report its location to you. For example, if you lose it in a crowded space other Woolet owners can pick up its signal and relay its location to you. (more…)
TECHCRUNCH: GSF India, the Bangalore-headquartered accelerator program and angel investment firm, is broadening its scope to cover young startups in India’s internet of things space. The organization has partnered global tech giant Cisco for batch four of its incubator program — and, importantly, extended the deadline for applications until March 17. (more…)
TECHCRUNCH: Amazon is taking another step into the Internet of Things. TechCrunch has learned, and confirmed, that the e-commerce and cloud services giant has acquired 2lemetry, a startup based out of Denver that has developed an enterprise-focused platform to track and manage IP-enabled machines and other connected devices. (more…)
TECHCRUNCH: Mobile payments and retail tech company Square has acquired Kili Technology, a Toronto-based startup specializing in silicon, electronic and software design for improvement payment processing. The newly-acquired company will remain in Toronto, which will now act as a second Canadian office for Square, which had previously opened its country HQ in Waterloo, home of one of the most-respected engineering schools in North America.
VENTUREBEAT: Today, Square announced a new program for merchants that protects them when customers dispute purchases. When buyers contest a charge on their credit or debit card, that money is immediately put on hold. That means the merchant loses the money generated from the sale as well as the product or service it sold. Starting today, Square is giving merchants in the U.S. and Canada access to charge-back protection, which will cover the money being held in instances of fraud. Meaning, sellers won’t lose out on sales that are being contested. Square will cover expenses related to sales disputes up to $250 per month.
WIRED: Perhaps you’re one of the many thousands of people who’ve automated some small part of their digital existence with IFTTT. Maybe you’ve instructed it to post your Instagram shots to Twitter, or to text message you whenever someone in your city puts an acoustic guitar for sale on Craigslist.
Until now, these “recipes” have been dependent on something else happening. If this, then that. But with its new trio of apps, IFTTT wants to let you start taking action yourself. (more…)