The veterans of the leading smartphone transaction success story have received funding for Cardfree.
A new mobile payments startup called Cardfree is being launched with $10 million and is being led by a team of Starbucks smartphone experience veterans in order to help other businesses who would like to achieve similar successes to those of the international coffee shop chain.
The café played a vital role in showing the world the potential of this type of transaction.
It started its successes with the Starbucks Card app and has gone on to grow its various smartphone friendly options. Now, a number of the people who were a part of the development of that program are creating a white label mobile payments tool called Cardfree that will open up similar benefits to other businesses.
The Cardfree mobile payments service launched this week with a massive amount of funds.
The Series A funding was provided by Jeffrey Katz, who is the founder of the Mercury Payments Systems processor. The business is seeking to assist other companies to develop their mobile payments strategies by providing them with a suite of services and tools that will considerably expand their business capabilities over smartphones. This includes obtaining a larger amount of useable data as well as enhancing their loyalty efforts.
Cardfree provides merchants with an option that gives them the ability to generate digital pre-paid cards, or to use mobile payments. Their technology is compatible with over 90 percent of existing point of sale systems.
The mobile payment transactions occur through two dimensional barcodes through the use of scanning devices, as well as through cloud, and will include NFC technology in its future developments. The tools also provides businesses various new methods of sending offers and promotions to smartphone customers with personalized messages and gifts. Other tools include those for refilling prepaid cards, loyalty options, preordering services, and data analytics.
The mobile payments startup has stated that it will be working with the retailer in order to help to provide them with precisely the options that will be serve their requirements. This includes the upgrade of any existing smartphone apps that are already in place, or the creation of an application from scratch.
