Poynt raises $100M for its smart payment terminal | Industry
Elavon, a U.S. Bank-owned payment processing company, and National Australia Bank have participated in the $100 million Series C for Poynt, a developer of smart payment terminals and an open operating system that powers any payment terminal worldwide.
Palo Alto-based Poynt was launched in 2014 by Osama Bedier, the former vice president of Wallet and Payments at Google. Prior to joining Google in 2011, Bedier had been the head of platform, mobile and new ventures at PayPal.
In four years, Poynt has brought in a total of $133 million from backers such as Google Ventures, Matrix Partners, Oak HC/FT, Webb Investment Network and Nyca Partners. In the last 16 months, it has shipped some 150,000 terminals. The company says total payment volume will exceed $25 billion in the next year.
“Our vision is to transform retail by becoming that innovation platform for payment terminals everywhere,” Bedier wrote in a statement. “We give developers a technical canvas to build the experiences merchants and their customers have come to expect and ultimately, make visiting your local store the personal experience it was always meant to be.”
With the investment, Poynt plans to bring its technology to Asia, Europe and South America.