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Mobeewave raises USD 16.5 mln to enable contactless payments

Monday 19 November 2018 00:21 CET | News

Canada-based Mobeewave has announced that it has closed a USD 16.5 million Series B funding led by NewAlpha Asset Management, Mastercard, and Forestay Capital.

Mobeewave allows merchants’ mobile devices to accept contactless payments via NFC, without the need for external hardware. Earlier in 2018, Mobeewave has announced that they have signed a global partnership agreement with Samsung Electronics, making their platform available for commercial use on more than 250 million Samsung devices around the world.

The Mobeewave platform is currently deployed in Australia, Canada, and Poland through respective partnerships with Commonwealth Bank, National Bank, and Polskie ePlatnosci (“PeP”), together with Mastercard. Further launches are to be announced.

This funding will enable Mobeewave to deploy its solution globally and develop new product offerings. It will also support the deployment of its platform through strategic alliances with banks and payment facilitators, as well as expanding the company’s head count.


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Keywords: Mobeewave, contactless payments, merchants, mobile devices, NFC, Mastercard, mobile payments
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Countries: World