30 July 2016
Find out more

Citi invests in mobile start up Billing Revolution

22 June 2011  |  8595 views  |  0 business meeting room

Citi has made a strategic investment in Silicon Valley mobile payments start up Billing Revolution.

Launched in 2008, the start up offers a single-click billing and payment service for Web-based transactions conducted on mobile phones, including Android and iPhone devices

Citi Ventures' funding follows its sponsorship last year of Billing Revolution's Single-Click Checkout Android app. The bank's active investment in the firm follows the completion of a $6.6 million Series B funding round two weeks ago that was led by DCM and SK Telecom Ventures.

The Citi Ventures unit was recently moved from New York to Silicon Valley, in an effort to get loser to groundfloor buzz on innovation in payments. Citi Global Enterprise Payments was launched four months later in October last year, combining the bank's transaction banking and cards businesses in an initiative to provide services in the corporate-to-consumer market.

Dickson Chu, recruited from Paypal to act as a managing director in the Global Enterprise Payments group, says of the Billing Revolution investment: "There is a lot of activity in the mobile payments space, but Billing Revolution's platform and approach are truly innovative, and the company has the potential to be a game changer. That is one of the reasons why Citi decided to become both a sponsor and investor."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google takes the wraps off mobile wallet

Google takes the wraps off mobile wallet

26 May 2011  |  15421 views  |  1 comments
Google partners Citi and MasterCard on NFC m-payments - WSJ

Google partners Citi and MasterCard on NFC m-payments - WSJ

28 March 2011  |  12062 views  |  0 comments
Citi to beta bill payment aggregator Manilla

Citi to beta bill payment aggregator Manilla

01 March 2011  |  8227 views  |  0 comments
Citi to invest in mobile and online to attract affluent customers

Citi to invest in mobile and online to attract affluent customers

17 November 2010  |  12836 views  |  0 comments
Citi to tap emerging corporate-to-consumer payments market

Citi to tap emerging corporate-to-consumer payments market

25 October 2010  |  8343 views  |  0 comments
Citi to pilot multi-account '2G cards'

Citi to pilot multi-account '2G cards'

05 October 2010  |  11049 views  |  1 comments
Citi signs for MasterCard inControl tech

Citi signs for MasterCard inControl tech

17 August 2010  |  11062 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit VocaLink.comFind out more

Top topics

Most viewed Most shared
Groupe BPCE agrees to buy FidorGroupe BPCE agrees to buy Fidor
7663 views comments | 32 tweets | 49 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
7046 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6633 views 0 | 6 tweets | 8 linkedin
hands typing furiouslyBank of Pikachu? What does Pokemon Go mean...
5639 views 0 | 10 tweets | 9 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job