Payfone Gets $19M, Alliance with American Express

Payfone has gotten $19 million in a new funding round, led by American Express with additional investment from Verizon Investments, Rogers Ventures and existing investors Opus Capital, BlackBerry Partners Fund and RRE Ventures.

Payfone says it will use the new funds to continue innovations in its market approach and to support its global expansion across North America, EMEA, Latin America and Asia.

"The payments industry is going through a fundamental transformation, with the move to digital payments becoming the primary driver," said Dan Schulman, Group President, Enterprise Growth, American Expres

American Express and Payfone are getting together to create and power a new global mobile checkout service. Payfone will combine its mobile authorization and payment services with American Express' digital payments platform, Serve.

Payfone Gets $19M, Alliance with American Express | Wireless Week