July 14, 2008, 12:00 AM

Mobile commerce company Mpayy lands second round of funding

Mobile payments provider Mpayy Inc. has received a second round of financing from its current investors. Financing was led by US Bancorp.

Katie Evans

Managing Editor, International Research

Mobile payments services provider Mpayy Inc. has received a second round of financing from its current investors. Financing was led by US Bancorp.

Mpayy, which launched a beta version of its services in the first quarter, will use the financing to grow its merchant and personal accounts and to develop its e-commerce, mobile commerce and widget-based payment services.

Mpayy provides online, mobile and widget payment processing capabilities. It provides payment acceptance services to online retailers and to individuals such as sales reps and taxi drivers who can use a customer’s web-enabled cell phone for payment. It also provides individuals with free person-to-person money transfers through online and mobile sites as well as through a social networking widget.

“We continue to view Mpayy as an attractively positioned player in alternative payments with a compelling and unique value proposition” says Mac McCullough, US Bank executive vice president and Mpayy director.

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