Licentia, the owner of payments solution provider MYPINPAD, has bagged £15m in its Series B round.
The capital was facilitated by the company’s seasoned investor Asia Principal Capital.
Licentia is also the owner of MYHSM, a direct hosting service of Thales payShield Hardware Security Modules. The platform offers users simple billing tools, subscription payments, and bank-grade security for payments.
MYPINPAD provides multi-factor authentication for touch pads and its mPOS solution enables merchants, acquirers and payment service providers with secure processing tools. Its platform can help consumers to improve PIN card entry through smart devices, and banks can access better customer authentication for transactions.
Merchants using the platform benefit from better acceptance rates, mitigated chargebacks and checkout abandonment, as well as reduced operational costs and false positives, according to the company.
With this new line of funding, Licentia will look to scale its companies and meet demands of the market.
MYPINPAD chairman and CEO Philip King said, “The timing could not be better. MYPINPAD and its sister company MYHSM, are focused on the removal of complexity from global payments acceptance and consumer authentication.”
He added, “MYPINPAD and MYHSM have an outstanding opportunity to deliver their products and services to a global market. We are very grateful for the investor support. We are excited by the opportunity at hand and very focused on its delivery.”
Copyright © 2018 FinTech Global
