Snapay plans to take a small fee on the merchant processing side, otherwise the app is free for the customers/buyers.
It appears to mirror what companies like Coinbase do in operating as dual wallet and merchant processing providers, but with a specific focus on India and its unique logistical challenges.
The ProfitPoint acquisition means to help with these efforts, as it brings in over 3,000 merchant clients, plus a merchant card processing platform.
Today she uses New York-based Merchant Processing Services, which charges her a base rate of 1.61% on each bill, plus 20 cents per card swipe.
Coinbase, one of the biggest Bitcoin consumer wallets and merchant processing platforms in the world, just acquired Kippt, a two-person YC-backed startup that had been working on a platform to share and store content.
That's all possible because Sail has rolled out a platform that includes a mobile SDK packing encryption, real-time fraud screening and boarding APIs, and merchant processing and settlement services.
Coinbase, the Andreessen Horowitz-backed Bitcoin wallet and merchant processing platform with just shy of 2 million wallets, is jumping on a big trend in security for holding the crypto-currency.
The cloud-based On Deck platform enables small businesses to go to create a business profile, which links to electronic data sources, including online banking, accounting and merchant processing.
Projects revenue from transaction fees and bundling merchant processing systems.
The company, which handles trading, merchant processing and storage for the currency, is based just outside Bangalore in Tumkur, India.
