Tyfone plans to push mobile payment solution with new funding
07 September, 2010
category: NFC
Tyfone, creator of the SideTap MicroSD mobile payment solution, has landed $5 million in Series B funding from several investors, including HDFC Holdings, Polaris Software Lab and Ojas Venture Partners, according to telecomtiger.com.
Tyfone says it intends to use the funding to expand its SideTap MicroSD memory card solution, which allows customers to make NFC-enabled contactless transactions using their smart phones wherever MasterCard’s PayPass system is offered.
“Now that our core technology has been developed, patented and is in production, this new funding allows Tyfone the ability to bring our solutions to new markets and build a broader ecosystem,” commented Tom Spitzer, CEO of Tyfone.
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