Focus on 10 startups specializing in mobile payment

by bold-lichterman

If the players in the banking world have for a long time been comforted in a wait-and-see position in the face of the development of new technologies related to mobile payment, young companies have not waited to multiply and are attracting more and more investors. . Frenchweb offers a selection of 10 startups positioned in the sector both in France and internationally.

1. Skimm dematerializes portfolios

Imagined by Valentin Lautier and Antoine Sakho, Skimm allows transactions of a different nature to be carried out from a single application.


Already downloadable on the App Store, the application offers the possibility of making money transfers from person to person, payments in stores, boutiques, restaurants as well as on merchant sites. Skimm also integrates loyalty programs including promotional offers, coupons, event ticketing and other marketing services. In short, the start-up clearly aims to dematerialize the entire consumer wallet …

Skimm wrapped up last April a first fundraiser with three French and English business angels, respectively specialized in the world of finance and management.

2. Lemon Way: social network dedicated to mobile payment

The Lemon Way app presents itself as a social network dedicated to mobile payment. The goal is simple: to facilitate money transfers between mobile users.


Available on the App Store and Google Play, the application makes it possible, for example, to pay for a common birthday present, to reimburse a friend or to get paid.

Concretely, the user must first create an account with his telephone number, email address, name and first name. A confirmation SMS then provides him with a 6-digit secret code. To pay, all you have to do is connect to the application and top up your account by credit card. It is then possible to send money to all French mobile phone numbers.

The new version of the application, available since the beginning of November, offers the possibility of paying merchants who are members of the Lemon Way network, in particular via a QR code system.

Use of the service is free for mobile users.

3. Flashiz: flash it’s paid!

Founded in 2011 by professionals from the financial sector, the payments industry and specialists in mobile technology, the Mobey company publishes a mobile payment application called Flashiz.


Based on a QR code system, it allows you to use your smartphone as a means of payment and to settle payments in various shops, bars and restaurants. The users of the application, can also refund their friends and make, themselves refund. Also on the menu: the purchase of bus tickets, parking, but also the payment of its water bills and municipal taxes … At the moment, the start-up has nearly 1,500 partners.

4. Kiips opts for contactless payment

Founded in 2010, the Parisian start-up Kiips also proposes to transform users’ smartphones into a true e-wallet. It is based on contactless payment technology and not on a QR code system.


With a turnover of 120,000 euros recorded in fiscal 2012, the young company intends to boost its development by forging strategic partnerships with shopping centers. In addition to a simple mobile payment offer, the objective is to bring added value to both professionals and users. The idea is therefore to develop loyalty programs and a range of promotional offers.

The start-up is also seeking to enter into an industrial or financial partnership with a giant in the sector to bring a certain solidity and assurance to its offer.

5. French Paytop raises more than 2 million euros


The young shoot Paytop finalized, last October, a fundraising of € 2.1 million from Truffle Capital.

Founded in 2006, the start-up recently bought the company, a French operator of fast money transfer via the Internet. Individuals using PayTop “send an average of 200 euros per month to their families abroad”. Thanks to this capital increase, PayTop has developed a solution that will allow professionals to transform their tablet or smartphone into a card payment terminal. It will offer a payment account to the merchant as well as a complete offer that will allow him to invoice and collect his customers everywhere.

6. Square valued at $ 3.25 billion

After many summer rumors, the start-up Square, specializing in mobile payment, formalized a fourth round of funding of $ 200M last September. According to the blog AllThingsD, which reported the information, this round of financing would value the company 3.25 billion dollars.


It is undoubtedly the most publicized of the startups specializing in mobile payment. Founded three years ago in San Francisco by Jack Dorsey (executive chairman of Twitter), Square first completed a fundraiser valuing it $ 240M, then a second of $ 100M in summer 2011, which valued it close to $ 1, $ 6 billion.

In the first six months of 2012 alone, Square would have seen its number of users almost double to reach 2M people. The company now has 400 employees and counted in 2012 on 8 billion dollars in transactions, against 1 billion the previous year.

Last February, the American specialist lifted the veil on a new offer. Intended for traders, this is a cash register kit. Marketed from $ 299 (€ 225), the set includes: two Square readers, an iPad stand and a cash drawer. The printer is optional and drives the price up to $ 599 (€ 451). The box does not include, moreover, the iPad itself.

Called “Business in a box”, this turnkey solution is directly linked to the Square application. In particular, it allows access to a data bank and to share information with customers.

7.iZettle: Square’s European competitor

Presented as Square’s European competitor, iZettle is a Swedish start-up which, like Jack Dorsey’s company, offers to transform iPhones and iPads into mobile payment terminals. Last June, the start-up completed a second funding round of € 25 million with Greylock Partners, the Northzone Ventures fund and its historic shareholders.


Thanks to this capital increase, the Swedish company intends to accelerate its development in Europe. It also estimates that in this geographical area, nearly 20M SMEs could adopt its solution.

8. Affirm: the new start-up of the co-founder of Paypal


PayPal co-founder Max Levchin launched a new mobile payment start-up at the end of February. Simply baptized Affirm, it takes the form of a mobile application. Its objective: to streamline online payment from a mobile device.

The application has the specificity of asking users to identify themselves via their Facebook account to secure transactions … Once this registration has been completed, the application must allow mobile users to make a purchase in just two clicks.

Max Levchin presents Affirm as a virtual card rechargeable by credit card, checks, bank transfer but not with a PayPal account.

9. American Dwolla emphasizes social networks

Identified as a start-up to follow in 2012 by Mashable, Dwolla offers a solution available on mobile and web browsers that allows its users to make money transfers via social networks.


Concretely, after connecting their bank account to their account Dwolla, users can send money to their friends and contacts through Facebook, Twitter, Foursquare and LinkedIn.

In addition to this very social dimension, the start-up is also trying to get out of the game thanks to its pricing policy. Money transfers below $ 10 are free and 25 cents are charged for transactions above $ 10.

The start-up completed a fundraising of $ 5M a year ago. This second round table was then led by Union Square Ventures. In February 2012, 30 to 50M dollars were exchanged each month through Dwolla’s web and mobile platforms.

10. Russian uBank raises 8 million dollars

On February 25, the Russian start-up uBank finalized an $ 8M funding round with Runa Capital in order to extend its service abroad. The start-up has developed an application that allows users to connect several bank accounts to it. They then have the option of paying various bills such as their telephone, internet and television subscriptions.


The company also plans to add new features like paying bills in cafes, restaurants and other convenience stores, as well as peer-to-peer money lending.

Available since the end of 2012, the application, available on iOS and Android, has been downloaded more than 250,000 times.

More generally, the online payment sector is also in full swing. We thus find a battery of initiatives, in the crosshairs of investors, which aim to compete with Paypal. Among them: startups Plastiq, Stripe, Paymill and Klarn.