dapiThe UK-based business cashless payment solution provider today announced it has raised $3.4 million to promote its one-touch checkout solution to Android users in the UK and Europe.I
African payments giant Flutterwave has led a development round in collaboration with Techstars. It was attended by Daniel Gold and PactVC, a venture partner at Asymmetry Ventures.
back in days Paymob is not for to be confused Powered by the Egyptian payment processor of the same name, Dappio allows businesses to accept in-store cash payments as the technology turns the back of any Android smartphone directly into a card reader terminal.I
It is not easy for micro-enterprises and individual businesses, especially foreigners, to invest in equipment and buy POS systems as they can be expensive and inconvenient.me, and this affects how they can collect payments from customers.
here is one rated 3.2 million companies in the UK and besides the fact that these systems are difficult PurchaseThis segment, which makes up 75% of all businesses in the UK, is underserved by traditional payment systems.I
gaming-updates co-founder and CEO Costa Do said in an interview: “I came to the UK a few years ago and have always struggled to get financial services like insurance, opening bank accounts, accepting payments.”I
“I really understand the pain and how difficult it is to go to the bank and go through the exact process… applicable to a large enterprise. This is a problem my wife also had to deal with when she had to send bank transfers to pay customers because these micro-enterprises were not eligible for larger machines.I and I Right now I thought there should be a more elegant solution for sole proprietorships and micro-enterprises to make payments.”
Do, along with its co-founder Grigory Gurbanov, launched Dappio in 2019. And in the following years, the company grew into a number of financial institutions, to the point where it raised some money. achieve License to use a mobile application instead of card machinesI
The launch of Dapio is a sign of the state the UK payment system is in right now, where NFC contactless payments have exploded, which is a quarter of all payments in the countryI
It’s also catching on globally as Apple plans to launch Tap to Pay in the US. dappio Only Android targets a market that accounts for 42% of the US mobile market, 46% in the UK and 71% worldwide.
According to the company, its Tap to Pay mobile app, which be running this spring every company can Immediately Accept contactless payments by tapping your card or mobile phone. Current partners include ZmBIZI and Payment Plus.
“If you are starting a business or are an entrepreneur, you may have to go to the bank, open a bank account, ask for a car that costs about $300. But what we have invented Right now A mobile app on your phone,” says Do.
“You as a business or sole trader when you need to choose to be charged” Right now Actually Open the application during the customer card established on the phoneI
With many players like Zilch and Nomod offering contactless payments and others using Apple Pay as one of their payment methods, how does Dappio think it stands out from the crowd?I
“The main difference between us and other players is that we prefer to use embedded funding. We don’t just want to connect with companies Immediately, instead we want Integrated Our functionality to accept payments in existing applications from FinTech, POS vendors, banks and telecom companies that will integrate our technologies. all of their corporate clients,” said the CEOI
Dapio is currently testing the product with no more than 20 sellers. CEO Do said that by the time Dappio finally goes live with multiple partners, there will be over 3,500 merchants on the platform.
And while ZmBIZI and Payment Plus support Dapio’s technology expansion in the US, UK and Europe, co-primary investor Flutterwave will be an integral part of the expansion in Africa and the Middle East.I
Flutterwave’s investment on the shores of Africa was not to be expected as they only made government investments in Ivorian fintech CinetPay. However, the fintech unicorn in particular is all about breaking into cutting-edge markets, so investing in startups, as was the case with Dappio, is part of the long-term game that Olugabenga “GB” CEO Agbula said in an interview in February.I
“We want to change our focus Right now Africa for emerging markets and finally America, UK, Europe. Our goal is to ensure that our infrastructure provides power to these corridors,” he said.
Commenting on why Flutterwave is backing his company, Do said, “The key for us is that we provide micro and small business payment acceptance, which drives the latest economic trends.I’m Flutterwave seeing this Real We wanted us to be part of his larger vision.”