Digicash closes EUR 2.2 mln funding round

Thursday 29 May 2014 08:09 CET | News

Digicash Payments, a Luxembourg-based mobile payment service provider, has closed a EUR 2.2 million funding round backed by its founders, the SNCI and the Luxembourg Government.

This additional funding is set to extend the company’s operation to an international level and to install Digicash Beacon payment terminals in Luxembourg.

Digicash signed up Luxembourgs main retail banks (BCEE, POST Luxembourg and BIL, soon to be joined by BGL BNP Paribas) to provide the Digicash Apps to their clients.

Terminals at the POS use the Bluetooth Low Energy (BLE) technology, as well as NFC and QR codes, providing the customer with an enhanced user experience based on the features of his smartphone.

Users who want to pay with Digicash do not need to link a credit card or to top-up a wallet. Payments made using Digicash are performed from the customer’s existing bank account using SEPA credit transfers.

In recent news, Digicash has launched a pilot-project using the Beacon model in Luxembourg.

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Keywords: Digicash, funding, mobile payments, round, Luxembourg
Categories: Payments & Commerce
Countries: World
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