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Scooped by Therese Torris onto Payments 2.0 |
Scoop.it!
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Therese's comment: Following up on an exchange we had on Scoop.it, Marty Smith discusses the threats and opportunities of Square on what promises to be a long and arduous journey towards finding a value-adding (and profitable) position in the payment value chain.
In a recent tweet Brett King @brettkind (an authority in payments) mentioned that easing the merchant onboarding process is one of Square's main virtues... worth $3.25 billion?
The mobile payments war is a fascinating business. So much at stake. We ain't seen nothing yet... Delete the scoop?
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It might not be the funding announcement we've been hearing rumors about, but today Square announced that they've partnered with Starbucks. Beginning this fall, Square will begin processing all U.S. credit and debit card transactions at participating Starbucks stores across their 7,000 locations...
Therese's comment: Rumor was that Square had secured another $200 million, before these $25 million from Starbucks http://www.scoop.it/t/payments-2-0/p/2356786035/twitter-dorsey-expected-to-become-billionaire-as-square-value-soars . Jack Dorsey had said he was looking for $250 million.
In any case Starbucks brings Square much more than money: huge visibility, credibility, distribution... Alliances are everything in the payment ecosystem. Well done ! Delete the scoop?
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Note: hard to find much information about Beamiit itself. The news got much attention because the Founder’s Co-op and Tomorrow ventures include personalities like Jeff Bezos (pictured here) and Eric Schmidt. Delete the scoop?
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February 25, 2012 JPMorgan Chase & Company announced this past week that it has invested in GoPago,... Delete the scoop?
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Square's reporting reveals that entrepreneur and founder of the Virgin Group Sir Richard Branson made a $3 million personal investment in disruptive mobile payments startup Square. Delete the scoop?
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Square has announced that it has finally closed its Series D round, totalling $200 million, with investors including Citi Ventures, Rizvi Traverse Management, and Starbucks Coffee Company. It values the mobile payments company started by Twitter’s Jack Dorsey at $3.25 billion, according to AllThingsD...
Direct link to AllThingsD http://allthingsd.com/20120917/square-finally-closes-200-million-round-at-blockbuster-valuation/
Therese's comment: At last ! Well done, Jack Dorsey. Must have been tough negociations. This is raising the bar in the mobile payments war.
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Square's payments volume grew 20 percent in two months. Sara Friars ex Salesforce.com, ex Goldman Sachs
Comment: Square which has already raised $140 million is said to be looking to raise another $250 million at a valuation of $5 billion
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"Kutcher's company, A-Grade Investments, has invested in about 40 tech startups and tech companies, including popular services such as Foursquare, Zaarly and Skype. [ ...] Dwolla's founder, Mr Ben Milne, said he talks with Kutcher via Skype every month or so. Mr Milne says Kutcher's insights have "shown up in the product already in a million different ways"."
Note: To watch the video of the announcement by Kutcher and Milne at Silicon Prairie check this link: http://www.siliconprairienews.com/2012/04/prairiecast-live-at-1-p-m-tuesday-with-ben-milne-and-danny-schreiber Delete the scoop?
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"Dwolla, an online and mobile payments network based in Des Moines, announced today it raised $5 million in a series B round led by Union Square Ventures of New York, with participation from Village Ventures and Thrive Capital, also of New York,..."
Comment: A total of $ 6.3 M capital raised is not much to create an ecosystem and to compete with the likes of Square ($168 M funding) and Google Wallet ! But good luck to the team and let's hope the direct bank to bank mobile payment proposition will attract partners Delete the scoop?
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Card reader still available for free for businesses ! I'd rush to get one if I were you
SumUp demo
http://www.youtube.com/watch?v=moThehyUjp4&feature=endscreen&NR=1
Sum up Web site
https://sumup.co.uk/