Home › DMW Daily › October 30, 2009

Bling Nation Lands $20 Million for Mobile Payments

Authored by Mark Hefflinger on October 30, 2009 - 6:29am.
Palo Alto, Calif. - Bling Nation, a provider of mobile payments technology, has raised $20 million in its second round of venture capital financing from Balderton Capital, TechCrunch reported.

Palo Alto, Calif.-based Bling Nation partners with small banks, and offers customers branded chips for their cell phones that can be used to make direct payments from their checking accounts.

The company also provides local merchants with machines that can read the cell phone chips.

Bling Nation then takes a small cut from each transaction; CEO Wences Casares told TechCrunch that merchants pay 50% less in transaction fees using its service rather than a traditional credit card system.

 

Related Links:
http://snipurl.com/sxpvu (TechCrunch)

http://www.blingnation.com

Published in DMW Daily, October 30, 2009
tags: Deals | Mobile | VC | Balderton Capital | Bling Nation |



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