Monday, April 9, 2012

Kuapay Takes On Mobile Payments, Loyalty With $2M

Santa Monica-based Kuapay, a new startup aiming at the mobile payments and loyalty markets, has scored $2M in funding, the firm has disclosed. The startup is headed by Joaquin Ayuso de Paul, one of the angel investors in Border Stylo and co-founder of Spanish social network Tuenti.com (acquired by Telefonica). According to Kuapay, the firm's mobile apps run on iPhone, Android, and Blackberry, and allow users to make credit card purchases with their smartphone, by linking with existing point of sale (POS) systems. Source of the funding was not disclosed. The company said it is in the midst of a $10M funding round for its efforts. The firm also has operations in Chile and Spain. More information »

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