Jan. 14, 2019

Citcon said it entered an agreement with UnionPay International to allow North American merchants to accept QR code payment through the service, which provides mobile payment options for millions of customers based in China.

The company said that customers, in addition to being able to use credit and debit cards on the Citron platform, will now have a fully integrated suite of all payment options when traveling to this continent.

UnionPay, which has about 100 million customers, said that users of its mobile app can use QR codes at about one million merchant locations worldwide, including China, Japan, Taiwan, Korea, Singapore, Thailand and other locations.

"With the partnership, UnionPay QR code will be introduced to Citcon’s extensive merchant network and launched through our POS scanner and all major POS and payment gateways that are integrated with Citcon’s Enterprise API, covering shopping malls and outlets, enterprise retailers, commercial areas and travel destinations," that Chinese customers favor, according to Wei Jiang, president and chief operating officer of Citcon, in the announcement.

Citcon in November entered an agreement with 7-Eleven to begin accepting Alipay and WeChat Pay in Canada. UnionPay earlier this month said it would open up its API for third-party development.

Topics: Mobile Apps, Mobile/Digital Wallet, POS, Region: Americas, Region: APAC

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Jan. 14, 2019

Beringea recently led a $11.58 million [9 million British pounds] investment in AccessPay, a Manchester, England-based fintech, one of the largest ever in that region, and has opened an office in that city due to the rapid growth of startups in the sector, in a company release.

The company said the funding was backed by U.S. investors True Ventures and Route 66, in the release.

AccessPay, founded in 2012, connects banks and other financial services companies to corporate back-end systems. The firm processes more than 40,000 transactions per year and has more than 500 corporate clients across the U.K., and includes leading names from Barclays to AA and ITV.

The company is led by Anish Kapoor, the co-founder of data center operator TeleCity Group, which was acquired by Equinix for $3.6 billion in 2016.

"Beringea seeks to back thoroughbreds that can become lasting successes," said Maria Wagner, investment director at the Beringea, in a statement provided through a spokesman. "Corporate payments have not seen the same level of innovation as consumer payments. AccessPay's platform solves a big pain point for large corporates."

Marc Sherman, the former co-head of Muzinich & Co.'s U.K. private capital fund and now investment director at Beringea, will lead the firm's new Manchester office.

Beringea-based in Farmington Hills, Michigan, led a $10.5 million Series D investment in Festicket, a mobile-based portal book music festival tickets and festival tour packages. That round was backed by InMotion Ventures, Channel 4's Commercial Growth Fund, Lepe Partners, U-Start and Eelko van Kooten, the former chief executive of Spinnin' Records.

Topics: Financial News, Mobile Banking, Region: EMEA

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