mPOS

11 Companies competing in the global mPOS market

MEDICI

Lot of small merchants, and even mid-sized ones are looking for mPOS systems because of the cost effectiveness, functionality, and easy implementation. What was started by Square is growing into a big opportunity. We all know about the big players. Here we cover a set of relatively new companies that are offering POS solutions based on various concepts. Following is the list of 11 companies that offer mPOS globally:

1. Loop:

Loop, a Boston based startup claim to have found a solution to the NFC (not there) problem with a new MST technology. On 8th October 2013, Loop announced the introduction of a new payment enabling technology. It offers a multiple enabling tech mPOS and also a mobile wallet. Biggest strength is acceptability across a large number of retailers. It consists of a smartphone app using magnetic field technology to enable customers to make payments in-store. Loop is led by mobile commerce pioneer Will Graylin and George Wallner. Read More...

2. Roam Data (a white label solution):

ROAM Data (acquired by Ingenico), an mPoS company from Boston, MA. Established in 2005, ROAM Data claims to provide end-to-end solutions, covering the entire spectrum of mobile payments requirements. ROAM was co-founded by Michael Arner and John Rodley. ROAM is currently headed by Ken Paul, CEO of ROAM. ROAM’s offerings include Hardware, Applications and Tools that support mobile payments. They offer card readers, software and analytics to merchants to accept payments, process and understand the customer behavior. Read More...

3. SumUp from Europe:

SumUp, a Berlin based mPOS startup, is targeting small and mid-sized vendors and businesses. SumUp was Co-Founded in 2011 by Daniel Klein (CEO), Marc Christ (CSO), Petter Made (COO), Stefan Jeschonnek (CMO) and Jan Deepen (CCO). The company acquired funding of $20 Mn from b-to-v Partners, Shortcut Ventures, Tengelmann Ventures and Klaus Hommels in 2012. Read More...

4. Paydiant:

Paydiant was founded in 2010 by 3 entrepreneurs –  Kevin Laracey (Ex Venture partner at Sigma Partners, also cofounder and CEO eDocs), Joe Paratore (Ex VP of engineering and technical services, eDocs,  joined m-Qube and later Verisign after its acquisition) and Chris Gardner (was CMO atExtendMedia and later joined m-Qube and Verisign). In February 2011, Northbridge Venture Partners and General Catalyst Partners invested a total of $7.6 million in the company. Paydiant offers a cloud based white label mobile wallet and payment solution that enables retailers, banks and processors to launch a branded contactless mobile wallet and payment platform without the need for middlemen. Read More...

5. GoPogo App:

Leo Rocco, the founder & CEO of GoPago got this idea in 2007, ‘GoPago’ was established in 2009 and claims to transform the way merchants and consumers connect and transact. GoPago’s offerings include mPOS, mobile store, front app and a cloud based PoS software called GoPago Live. Their mPOS service includes offering merchants a credit card reader, smartphone and a protective rugged case. GoPago Live is a cloud based point of sale software for merchants offered to them at a subscription fee of $99/month. Read More...

6. I Love Velvet:

The mobile payment solution that powers places like Nespresso cafe has been developed by ‘I Love Velvet’, one of the leading provider of Mobile Point of Sale solutions. I Love Velvet was founded in 2010 by three former SAP, Oracle and Enterprise retail executives. The company is currently headed by Patrick Bouaziz who is also the CEO of the company. Read More...

7. Tabbedout (software play):

Tabbedout is a mobile payment app that claims to allow users to pay their bills at a bar or a restaurant through their smartphone. Its specific to hospitality industry and is a POS integrated mobile payment solution. Tabbedout was co-founded in 2009 by Rick Orr (CEO) and David Lemley (CTO). The Texas based company has acquired a total of $13.5 Mn in funding till date. Tabbedout recently (3rd October, 2013) acquired $7.75 Mn in Venture Capital funding from Morgan Creek Capital, NEA and Heartland Payment Systems. Read More...

8. Swipely (software and analytics play):

Swipely, a Rhode Island company, was founded in 2009 by Angus Davis. They received $1 Mn, Angel funding in 2009. In 2010 Swipely acquired $7.5 Mn through investors such as Index Ventures, Greylock Partners, First Round Capital, Charles Moldow, Emil Michael, Angus Davis etc. (total 11 investors). In series Swipely claims to be an easier way for local merchants to accept payments, understand customers and grow revenue with valuable analytics, loyalty and marketing tools. Read More...

9. Adyen from Europe:

Adyen a Holland based e-commerce based company plans to extend its Shuttle service targeting the mPOS market in Europe by launching in 3 countries (Norway, Switzerland and Denmark). Shuttle found in late 2012 competes with established companies like Payleven, iZettle and SumUp in the mPOS space. Adyen charges a flat €99 as a onetime set up fee and changes €10 every month for Shuttle users. Read More...

10. Ezetap from Asia:

This mobile card reader company from India plans to put a card reader in the hands of every ecommerce delivery person. It has also got a chip and pin card reader now and has a tie up with banks like Citibank for outreach. Read More...

11. JUSP from Europe:

This Italian company JUSP Launched an All-in-One mPOS “Chip & Pin” Solution that Connects Directly to Smartphone and Tablet through Audio Jack. Read More...

Note: We will add more companies to this list as we go

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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