kevin. secures USD 10 million seed round to disrupt card payment ecosystem

Thursday 21 October 2021 15:09 CET | News

Lithuania-based fintech startup kevin. has closed a new seed funding round with USD 10 million to bing the total capital raised to USD 14 million.

kevin.’s A2A (account-to-account) payment infrastructure solution was created to change card payments to payments linked directly from customers’ bank accounts without using any third-party providers. kevin. focuses on mobile and POS payments where customers predominantly pay using cards. Its payment infrastructure is based on open banking, regulated by the European PSD2.

The proceeds from this investment will be used to further develop kevin.’s product offering, particularly around POS payments. kevin.’s POS product will enable customers to seamlessly pay from their bank accounts for goods in physical shops through existing card terminals using NFC technology, while merchants avoid card networks and save on transaction fees. The new funds will also be used to expand into new markets.

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Keywords: fintech, account-to-account payment, POS, PSD2, NFC
Categories: Payments & Commerce | Mobile Payments
Countries: Lithuania
This article is part of category

Payments & Commerce

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