PopID announced an equity financing round that includes investments from Verifone, PayPal, Commerce Ventures, Chipotle’s Cultivate Next venture fund, and Visa Ventures. This new funding follows previous investments from Cali Group and the Ching family.
Over the past several years, PopID has conducted millions of biometric loyalty and payment authentications, demonstrating that face and palm scans for loyalty and payment authentication at the point of sale offer unique benefits for both consumers and merchants compared to phone and card authentication.
PopID also recently announced a partnership with Verifone to retrofit existing Verifone terminals to accept face and palm authentication and embed biometrics in all future Verifone terminals. And the joint solution will utilize Verifone’s vast array of existing global assets: 45M devices (15M of which run 200 proprietary payment applications managed by Verifone’s cloud-based device management platform); integrations with 2,500 ECRs/POSs; 150+ payment processors, and acceptance of 40+ global, local, and alternate payment methods.
KEY QUOTES:
“The additional capital will allow us to work with our partners to build critical infrastructure to support an open-loop, global biometric network that can connect point-of-sale solutions to any loyalty program, card payment method, fintech wallet, buy-now/pay-later platform, stablecoin product, or pay-by-bank scheme. Our group of investing partners includes:
Verifone, the global platform powering distinctive payment experiences for all types of businesses.
Visa, a world leader in digital payments;
PayPal, a leading commerce platform with more than 430 million active accounts;
Commerce Ventures, a leading venture capital firm in fintech; and
the venture fund of a leading fast casual restaurant company, Chipotle.”
John Miller, CEO of PopID
“Our strategic partnership and investment in PopID furthers our decades-long mission to innovate in the payments space for merchants and consumers. Our customers and partners are eager to implement biometric solutions because they are highly secure, convenient and quick. I am confident that together with PopID we will see widespread global adoption of PopID’s technology in the coming years.”
Himanshu Patel, Verifone CEO
