SimplyTapp gets Series A Funding from LightSpeed Ventures

SimplyTapp was co-founded in 2011 by Ted Fifelski (Co-founder) and Doug Yeager (Co- Founder). The company recently received Series A funding through investors Lightspeed venture partners and Blue sky capital. Prior to this, SimplyTapp had acquired $200k through Seed Funding in February 2013. SimplyTapp is a leading developer of cloud based mobile payment technology.

SimplyTapp has been in limelight since Google announced its HCE plans. With Android 4.4, Google introduced a new platform support for secure NFC-based transactions through Host Card Emulation (HCE), for payments, loyalty programs, card access, transit passes, and other custom services. HCE support was a collaborative effort introduced by SimplyTapp.

SimplyTapp created Host card emulation (HCE) and integrated it with the CyanogenMod operating system which enables the network operator to complete a mobile payment at a POS terminal. 'Lightspeed gives us the backing we need to grow the company at just the right time. They understand the space and share our vision for the future of mobile payments' says Doug Yeager, CEO of Simply Tapp.

SimplyTapp allows customers with any mobile phone and network from any bank to buy from the retailers using the services. It gives power to the customer to make payments to the retailers who are NFC based which helps them to check their balance from their bank mobile application using their white label solution.

It helps in keeping the banking system simple and secure which allows users to focus on generating value for bank community. It provides every banking partner with the systems and processes to keep banking simple and secure.

This a video that shows you how to use the Simply Tapp application:

  • Customers had to go through an online registration process that captures securely personal details such as debit or credit card numbers.
  • After registration the customer selects a product that which they require in store .It can be done online or by simply tapping the product code.
  • The customer can get the product code from mobile application or by SMS and select the product which the customer wishes to buy .
  • Once the user selects buy the product is on the way and delivered using the buyer details.

Some of the features of the SimplyTapp application are as follows :

1) Hosted solutions : SimplyTapp hosted solutions help mobile banking applications with tap and pay function all from their bank private cloud.

2) Integration Made Easy: SimplyTapp provides open toolkits and SDKs that reduce time to market by enhancing existing infrastructure which helps the companies in saving time and money.

3) Secure Element service : SimplyTapp helps customer through their turnkey solution which helps the companies to focus on what is important for their customers.