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Mobile Payments

Mexican mobile payment company Clip raises USD 100 mln

Tuesday 14 May 2019 | 09:00 AM CET

Mexico-based mobile payment company Clip has reportedly raised USD 100 million from several venture capital funds including investment group Softbank.

Softbank sank USD 20 million into the startup; investment company General Atlantic was among the other investors.

Clip’s mobile app serves as a credit and debit card reader with the aim to help small-business owners such as shopkeepers to accept card payments. The company offers a portable card-reading device that connects to the headphone jack of smartphones and tablets.

Clip enables businesses to accept card payments by turning smartphones or tablets into card terminals. Users can complete the sign-up process in less than 5 minutes.

More: Link
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