3V set for European expansion


DUBLIN-headquartered payments provider 3V has raised €5 million to fund its further expansion into the US and European markets in 2013.

The investment round was led by Atlanta-based TTV Capital, a venture capital firm that specialises in technology-enabled financial services businesses. 3V, which operates in six countries, counts Telefonica, Visa, PayPal and eBay among its clients, and its technology is behind the O2 Money real-time payments system in Ireland for Telefonica.

“The climate isn’t easy out there, but we operate in a space that’s quite hot at the moment,” said 3V chief executive Kieron Guilfoyle. Enterprise Ireland and 3V’s existing investors including Balderton Capital and Atlas Ventures, also participated in the fundraising. 3V, established in 2004, employs 40 in Dublin and also has offices in London, Amsterdam, Madrid and New York.

Online transactions firm in €5m boost

Online transactions firm in €5m boost By John Walsh, Business Correspondent Monday, October 15, 2012 Dublin-based 3V Transaction Services has secured €5m in funding from TTV Capital to finance its expansion into the US and European markets next year. 3V specialises in developing payment platform technologies which enable mobile operators and online retailers to offer increasingly innovative payment procedures.  Commenting on the announcement, 3V CEO, Kieron Guilfoyle, said, “This additional funding will allow us to scale our business to meet the growing needs of mobile operators and online retailers as they seek to enter the payments market across the globe. It will also help underpin our position as a leading innovator in payment platform development.”  3V was established in 2004 and has operations in six countries — Ireland, the UK, Holland, Spain, Canada and Germany. Its clients include O2, Visa, PayPal and eBay. Other investors in the company include Enterprise Ireland, Balderton Capital and Atlas Ventures.  Leo McAdams, a manager at the financial services department of Enterprise Ireland, said: “The payments industry is a strong and growing sector in Ireland and 3V is an example of a payments company that continues to secure international success.”  3V also operates a global instant-issue virtual debit platform that currently serves over half a million customers, allowing them to instantly transact anywhere online without having to adapt shopping carts to facilitate payments.  The company also provides open and closed loop gift-card solutions for online companies such as PayPal and eBay.  This year the company built an online payments system for Visa to facilitate customers in 28 countries to purchase tickets for the London Olympics.

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ShopKeep POS partners with BlueStar to Distribute Cloud-Based Point-of-Sale Solution

By Julie Schicktanz on October 5, 2012 2:51 PM | No Comments Cloud-based point-of-sale system, ShopKeep POS,announced today that it has partnered with BlueStar, a distributor of mobility, POS, RFID, digital signage, and security technology solutions. Through this partnership, ShopKeep POS is able to provide a complete POS system, with software and hardware that uses BlueStar’s bundled “In-A-Box” offerings. It also gives ShopKeep POS access to more resellers. Now, 16,000 resellers across the U.S. will be able to buy the cloud-based solution directly from BlueStar and join the 3,000 locations that already use it. To learn more about ShopKeep POS, watch its FinovateFall 2012 demo.  

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Slideshow: Software payment firm Cardlytics to add 100+ jobs

Atlanta Business Chronicle by Urvaksh Karkaria, Staff Writer Date: Thursday, September 27, 2012, 1:02pm EDT – Last Modified: Thursday, September 27, 2012, 3:37pm EDT Atlanta’s Cardlytics Inc. plans to add about 100 jobs as demand for its targeted offers among retailers spike. Cardlytics’ software helps retailers, restaurants and service providers deliver ads to specific consumers, via banking websites “We literally can’t hire enough people at the moment,” Cardlytics Senior Vice President Rod Witmond said. As Atlanta Business Chronicle first reported Sept. 14, the company plans to expand its current headquarters from 32,000 square feet to up to 120,000 square feet by 2015. At full capacity the new office could employ more than 450. Cardlyitcs, which employs 250, is seeking data analysts, software and database developers and account executives. “We’re a … rich data-driven company,” Witmond said. “We can’t get enough people to analyze…the data, to determine how to better position ongoing campaigns.” Cardlytics’ customized ads are based on transaction information gleaned from consumers’ bank-card use, such as where they shopped in the past month and how much they spent. The transaction data is scrubbed of personal information, so merchants can’t identify individual shoppers. Clicking on an ad turns the consumer’s bank card into a virtual coupon, usable online or in a brick-and-mortar store. When the customer makes a purchase, the advertised savings are automatically credited to their bank account or rewards program. The targeted approach means consumers who receive offers are more likely to redeem them. Redemption rates on Cardlytics offers are more than 5 percent on average, with some ad campaigns topping 20 percent. “We’re now in 320 banks, we’re reaching 75 million households and have access to 250 million consumers,” Witmond said. “We can post offers against some $500 billion in consumer spend.” Cardlytics has raised nearly $60 million and is backed by ITC Holding Co. LLC, Kinetic Ventures, Canaan Partners, Polaris Venture Partners and TTV Capital. Last September, Cardlytics announced “long-term global strategic alliance” with Groupe Aeroplan, a loyalty management company. As part of the alliance, Groupe Aeroplan and existing investors invested $33 million in capital to fund U.S. and International growth. Cardlytics’ business model is merchant-supported. Merchants pay once the consumer redeems the advertised offer. The offers, which can provide cash back or reward points, typically provide savings worth an average of $200 annually, but with no maximums.  

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FinovateFall 2012 Best of Show Winners

FinovateFall 2012 Best of Show Winners By Julie Schicktanz on September 13, 2012 9:57 PM | No Comments Our fifth annual FinovateFall in NYC concluded an hour ago. After seeing 64 demos over two packed days, the audience voted for their three favorites each day. The top eight overall were named Best of Show (see notes). The winners (in alphabetic order):   Credit Sesame Dashlane Dynamics eToro LearnVest MoneyDesktop PayTap ShopKeep POS   We’ll have videos of all 64 demos posted at as fast as possible (probably two to three weeks out). Thanks to everyone who presented, attended, tweeted, networked, blogged, tolerated the Internet hiccups and helped push fintech forward. You are the best! ———- Notes on methodology: 1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote. 2. Attendees were encouraged to note their favorites as the day went on and choose three favorites from just the demos of that day. Ballots were turned in at the end of the last demo session each day. 3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed. Note: Ballots with more than three companies circled will not be counted.” 4. The eight companies appearing on the highest percentage of submitted ballots were named Best of Show. 5. Go here for a list of previous Best of Show winners.  

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