Finovate Alumni News

Around the web

  • InComm launches health plan-sponsored first years wellness card to support babies’ well being.
  • Payworks introduces P2PE component services for payment providers.
  • Coinone Transfer joins Ripple’s RippleNet to enhance cross-border payments.
  • Navigant and Ayasdi collaborate to deploy machine intelligence to effectively and efficiently detect and deter financial crime.
  • INV Fintech collaborates with the Open Bank Project to offer sandbox APIs.
  • Lendio announces franchise in Broomfield, Colorado.
  • Token granted FCA authorization for open banking payment and information services.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Payworks Teams Up with Ghana-based Payment Platform Hubtel

Payworks is working with Ghana’s Hubtel to enable merchants in the African nation to accept payments via their Hubtel POS app and EMV credit card reader. The two companies have been collaborating since the beginning of the year, integrating Payworks Pulse payment gateway technology to make Hubtel the first fully integrated solution available in the country.

“Hubtel’s aim is to enhance our merchants’ business by offering a platform where payments, customer engagement and loyalty can be handled through the same application,” Hubtel CEO Alex Adjei Bram said. “By partnering with Payworks, we’ve been able to offer a payment solution which has consolidated the retail experience, enabling businesses to interact with customers at their preferred touchpoints.”

Payworks Pulse enables developers to quickly and easily integrate Pulse SDKs and APIs to add card reading functionality to their POS applications. EMV certified, PCI compliant, and P2PE ready, the technology supports remote card reader updating, enabling a faster time to market. Pulse is built to scale; POS solutions can be deployed worldwide without changing the integration thanks to Pulse’s pre-certification with leading processors and acquirers in the U.S., Europe, and Africa. With Hubtel, Payworks certified with local acquirer Zenith Bank so that merchants can accept the local debit scheme gh-link, as well as Visa and Mastercard schemes.

“Supporting the Hubtel team in providing an integrated solution which meets the needs of their local merchants has been an exciting project and we look forward to our continued work in the future,” Payworks CEO and co-founder Christian Deger said. He underscored the value of providing “acquirer-agnostic technology” as a way to best tailor solutions to the specific needs of clients and “bring advanced payment technology to more Point of Sale solutions around the world.”

Payworks demonstrated its mobile POS SaaS platform at FinovateEurope 2014. Founded in 2012 and headquartered in Munich, Germany, the company has raised $19 million in funding, most recently picking up a $14.5 million investment in a round led by CommerzVentures and Visa. The company extended its partnership with Verifone back in December, and announced support for Alipay last summer.

Interested in fintech in Africa? Check out our Finovate Global post every Sunday for news on developments in financial technology around the world. And be sure to join us in South Africa this fall as Finovate makes its debut in Capetown in November.

Finovate Alumni News

On Finovate.com

  • Deserve Raises $50 Million in Debt Financing.
  • Payworks Teams Up with Ghana-based Payment Platform Hubtel.

Around the web

  • Wealthify added to Starling’s in-app marketplace.
  • InComm plans $20 million expansion in Georgia, will add more than 150 jobs.
  • Fiserv launches FinKit for Open Banking to help banks keep up with rapidly unfolding regulations.
  • Horizn helps RBC win a Celent Model Bank 2018 award for Employee Productivity.
  • OutSystems to power digital transformation for Principality.
  • TransferWise introduces its multi-country bank account.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Payworks Completes $14.5 Million Series B Round

Point of sale (POS) technology company Payworks has reeled in its second round of funding. The Germany-based company closed a $14.5 million round from CommerzVentures and Visa, with contributions from existing investors Speedinvest and Finparx. Today’s financing brings Payworks’ total funding to $19 million.

Explaining the firm’s reasoning behind the funding, Stefan Tirtey, Managing Partner of CommerzVentures said that it “invests in founders with a passion for innovation and proven ability to execute.” He added, “We back businesses that can have a significant impact on the financial services industry. We believe that Payworks has both, a great team, and an offering that can have real impact in the fast-changing world of card payments.”

Payworks will use today’s financing to fulfill demand for its solutions and fuel global growth, scale operations, and focus on increasing R&D and product teams across its offices in Munich, New York, London, and Barcelona. In the press release, Christian Deger, Payworks founder and CEO said, “We are on a great mission to build a new operating system for the Point of Sale and are very excited to have CommerzVentures and Visa join us on that journey. With the additional funding we are fully equipped to further develop our technology and product and support the demand coming from leading payment players looking to modernize their solutions.”

Founded in 2012, Payworks focuses on POS technology. The company’s payment gateway technology, Pulse, is a set of SDKs and APIs that remotely update card readers and set up in a couple of minutes to make developers and their merchants EMV certified, PCI compliant and P2PE ready. The company’s partners include First Data, TSYS, Stripe, and American Express. Additional products include Accept, a white-label mPOS solution for merchants, and Engage, a customer data and CRM platform.

At FinovateEurope 2015, the company’s CEO Christian Deger demonstrated how Payworks builds payment solutions and checkout options. Late last year, the company extended its partnership with Verifone, integrating the Verifone e355 mPOS and the VX 820 onto the Payworks platform.

Finovate Alumni News

On Finovate.com

  • Payfone Receives $23 Million in Funding from Synchrony Financial.
  • Clinc Tops $4.5 Million in Annual Revenue; Hires Helen Yu as Chief Growth Officer.
  • Payworks Completes $14.5 Million Series B Round.
  • Bankjoy Brings New Online and Mobile Banking System to SafeAmerica Credit Union.
  • Placecast Acquired by Ericsson’s Emodo.

Around the web

  • GreenKey Technologies to release its voice API through OpenFin’s plugin architecture
  • TipRanks offers stock tracking tool to manage investments and maximize returns.
  • Worldline selects VMware to accelerate innovation and time to market.
  • Japanese personal care company selects Top Image Systems’ eFLOW Extract accounts payable solution.
  • Kestra Financial to offer eMoney Advisor’s financial planning platform to its advisors.
  • TIBCO ranked first in Dresner Advisory Services 2018 Location Intelligence Market Study.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Ripple Establishes Infrastructure Innovation Initiative.
  • Southern Bank Leverages PicturePay from Malauzai to Offer Digital Payment Service.

Around the web

  • Credit Karma announces former Renew Financial president Gannesh Bharadhwaj as general manager of credit cards.
  • Payworks extends partnership with Verifone.
  • Bluefin issues first Japanese patent for creating fingerprints for encryption devices.
  • RealtyMogul hires Soley Van Lokeren as its first Chief People Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Kabbage Collects $250 Million Investment from SoftBank.
  • Huntington National Bank Chooses PFM, BFM Solutions from Barcelona-based Strands.

Around the web

  • Mastercard and Paypal deepen Asia Pacific partnership.
  • GlobalOnePay teams up with InvoiceASAP to improve electronic invoicing for SMEs.
  • Fidor Bank launches fintech education program in Singapore.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Switch Announces Early Access to Online Card Account Management Platform.

On FinDEVr.com

  • Excited to see Softjourn at FinDEVr New York on March 21 & 22. Check out our interview with Project Manager Yuriy Kropelnytsky.
  • NYMBUS Scores with $16 Million Investment Led by Home Credit Group.

Around the web

  • Lleida.net wins 20-year European patent for its registered email technology.
  • Payworks provides SIX Payment Services with mPOS solution, mCashier.
  • Thomson Reuters enhances data analytics platform with ultra high-speed processing of real-time and historical data functionality.
  • France’s PayPlug to deploy ACI PAY.ON Payments Gateway from ACI Worldwide.
  • Entersekt announces original equipment manufacturing agreement with transaction processing specialist, Global Kinetic.
  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • BBVA to leverage mobile accounting opening technology from Oracle Communications.
  • GMC Software awarded the Xplor Application of the Year Award.
  • Striata named a Visionary in Gartner Magic Quadrant for Customer Communication Software.
  • Signifyd joins Salesforce Partner Program.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Payworks Raises $4.5 Million Series A

payworks_homepage_September2016

Just a few days after launching its next-generation payment-gateway, Pulse, Payworks announced a $4.5 million Series A. The round was led by HW Capital and Rumford, and featured the participation of “leading U.S. and European payment executives” as well as existing investor, Speedinvest. The funding will help accelerate the Munich, Germany-based company’s continued expansion into Europe and North America.

“We are extremely happy on having closed our Series A with a great group of investors,” said Christian Deger, Payworks CEO and co-founder. “With their support, we will make Pulse available to even more merchants worldwide and establish our position in the market as a leading payment-gateway technology company.”

Nikolaus von Taysen, a partner at Rumford, had high praise for the German SaaS payment-gateway company, and called Payworks “one of the very few companies that has a shot at replacing an old and outdated infrastructure on a global scale.”

payworks_stage_FEU2014b

CEO Christian Deger demonstrated the Payworks’ platform at FinvoateEurope 2014.

Payworks gives payment processors an alternative to the costly, inefficient, inflexible, and often poorly secured legacy systems still widely in use to process credit card payments. With Pulse, the company’s lightweight, next-generation, SaaS payment-processing platform, Payworks empowers smaller processors to keep up with the larger processors in the payment business. CEO and co-founder Christian Deger called the solution a “very important milestone for our company,” noting the technology provides fast, API-based, EMV, contactless card, mobile wallet, and chip and payment processing for both fixed and mobile point-of-sale systems.

Headquartered in Munich, Germany, and founded in 2012, Payworks demonstrated its platform at FinovateEurope 2014. Winner of the MPE Award for most innovative payment startup, the company is active in more than 15 countries, and its payment provider clients serve hundreds of thousands of merchants in a number of different industries.

Finovate Alumni News

On Finovate.com

  • FinovateFall: Mapping the Future of Fintech Today
  • Payworks Raises $4.5 Million Series A
  • Mastercard Says “Me Too” to Visa’s PayPal Partnership

Around the web

  • Top Image Systems Signs Two Accounts Payable Automation Deals Valued at Over $480,000
  • EU-based mobile payments company SumUp achieves profitability.
  • Let’s Talk Payments interviews Boku CEO Jon Prideaux.
  • ACI Worldwide brings UP Retail Payments to Erste Bank Hungary.
  • Braintree to offer Visa Checkout.
  • ayondo relaunches website with new design and features to improve trading experience.
  • TransferWise announces tripling of revenues in first public annual report.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.