Canadian startup Mobeewave is entering a new segment of the payments market after already creating a secure payments platform and customizable payment apps.
It has now announced it will enter a new market by launching a mobile point of sale, or mPOS, NFC-enabled contactless payments solution. NFC, or near-field communication, is the technology that enables two electronic devices to communicate by being close to each other, which is used by numerous other contactless payment solutions.
?The market for NFC-enabled mPOS contactless payments is on the cusp of significant growth and were now poised to spearhead it worldwide with a standardized, patented and scalable payment acceptance solution,said Benjamin du Has, co-founder of Mobeewave.
He added: ?With NFC-enabled consumer devices now available and contactless payment adoption ever-increasing, were excited to participate in the opening of the market by supporting the networks, major stakeholders and other organizations to professionalize this new type of payment standard, and provide merchants around the world with a simplified, low-cost and easily-accessible way to accept card payments.p>
Mobeewave raised $16.5m in a Series B funding round in November 2018. Venture capital firms NewAlpha Asset Management and Forestay Capital as well as Mastercard supported the round.
Forestay Capital more recently led the business management company vCita $15m funding round in July this year.