Another mobile payments service is hitting the market today, but unlike Square, Here from PayPal, or solutions from the likes of Isis, this one doesn't require a dongle on the handset -- or new technology like NFC -- to work. Called Flint, the free app uses the camera on a handset to "scan" the account number from the front of a payment card, and uses that along with a customer signature to process the transaction. And the company behind the app, Flint Mobile, today also announced that it has raised a Series A round of $3 million from two top-tier VCs, Storm Ventures and True Ventures, which it will use to further product development, hire more people and market the new app.
Wednesday, May 9, 2012
Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
Another mobile payments service is hitting the market today, but unlike Square, Here from PayPal, or solutions from the likes of Isis, this one doesn't require a dongle on the handset -- or new technology like NFC -- to work. Called Flint, the free app uses the camera on a handset to "scan" the account number from the front of a payment card, and uses that along with a customer signature to process the transaction. And the company behind the app, Flint Mobile, today also announced that it has raised a Series A round of $3 million from two top-tier VCs, Storm Ventures and True Ventures, which it will use to further product development, hire more people and market the new app.
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