Italian mobile POS startup Jusp has secured $6m in funding to launch an app and dongle system that turns mobile phones into card payment terminals.
The funding was raised in a round led by VCs Principia Sgr and Vertis Sgr, and will help launch the system in Italy and other European countries.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataJusp joins Sweden’s iZettle, German-based Payleven, the UK’s mPowa, and Amerian invaders Intuit and PayPal in the bustling European mobile payments market.
Unlike its rivals, the firm’s chip and PIN reader attaches to mobile and tablets via the audio jack, rather than using bluetooth, meaning merchants do not have to work with two devices.
Use of the audio jack also makes it possible to avoiding Apple licensing fees. This means that the pricing for the iOS and Android compliant unit, comes in at 39 and levies a 2.7% merchant fee for any transaction.
In comparison, iZettle’s Chip & PIN costs 49 and Payleven is also priced at 49. With iZettle, merchants pay 2.75% of each transaction amount.
Jusp claims that it has attracted interest from banks in Europe and the US and will look to work with partners to launch in some countries, while going in directly in others, such as Spain, France and Brazil.
Related Articles
Fiserv launches merchant payments solution
