With $10 million in funding behind them, a group of Starbucks and Dunkin' Donuts m-commerce veterans have teamed up to launch Cardfree, a provider of white-label mobile merchant platforms.
It's good to see a white-labelled platform that not only allows retailers to enrich the moment of payment, but also retain focus on their brand rather than diverting the focus to a third-party payment provider.
The days when retailers were forced to make significant upfront investments in order to enrich the experience for their customers are fast disappearing and the focus of the POS is rapidly shifting from a simple means of facilitating payments to a means of
enriching the experience for both the consumer and the retailer.
Whilst the pricing details surrounding the upcoming Cardfree platform are not clear, it's probably safe to assume that it will be priced in a manner that retailers will find hard to refuse.
With the rapid advances that are being made in terms of the value-added services that are available to retailers, it's difficult to see a positive future for the traditional payment providers unless they can very quickly step up their game.
© Finextra Research 2014