Clip is a Square-like mobile payment service that has raised $1.7 million in funding. Alta Ventures, one of the top Mexico based venture capital firms, participated in this round along with an undisclosed investor.
Clip has launched a new service called Mensualidades, which lets a merchant in Mexico set up payments in 12 installments. This will make it easier for buyers to make larger purchases in Mexico.
Clip has a partnership with American Express Mexico where the American Express credit card is Clip’s official card.