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Fintech startup Pleo, that offers smart payment cards to companies in order to automate the expense report process, have secured $16 million investment in a Series A funding round, led by Kinnevik.
The company shed a little light on the subject in a blog post that went up this morning, noting that it's done with the smart payment product business, now that Coin 2.0 has sold out.
It has struck a partnership with Lightspeed POS and NCR Silver that allows vendors to manage online and offline inventory, and is also a founding developer partner with Poynt, a smart payment terminal that is currently targeting 16 million merchants.
Earlier this week it announced the global rollout of its smart payment buttons that are aimed at taking the confusion out of all the different payment methods available online.
Elavon, a U.S. Bank-owned payment processing company, and National Australia Bank have participated in the $100 million Series C for Poynt, a developer of smart payment terminals and an open operating system that powers any payment terminal worldwide.
There's a lot of excitement (and hype) at the moment around smart payment solutions, not least in relation to the potential of NFC now that mobile operating systems and handsets are finally supporting the technology.
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About $220 million is included in the authority's new capital plan to install a smart card payment system similar to London's Oyster card, a no-swipe fare card that is waved over a sensor to speed up payment.
M-commerce, powered by smart mobile payment systems, would radically change the way business is done.
The MTA is testing "smart card" payment systems to replace the MetroCard.
SmarTrip is a contact-less stored-value smart card payment system managed by the Washington Metropolitan Area Transit Authority (WMATA).
The model enables the estimation of a zonal origin destination matrix for a city, if trip information passively collected by a smart-card payment system is available (in form of a stop-to-stop matrix).
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