Backing from Group of Strategic and Financial Investors
Capital Will Facilitate Global Biometric Network
LOS ANGELES--BUSINESS WIRE--
PopID announced an equity financing today including investments from Verifone, PayPal, Commerce Ventures, Chipotle’s Cultivate Next venture fund, and Visa Ventures. This new financing 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, proving that face and palm scans for loyalty and payment authentication at the point of sale have unique benefits for consumers and merchants versus phone and card authentication.
“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, stable coin product, or pay-by-bank scheme,” said John Miller, CEO of PopID. “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.”
PopID 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. The joint solution will leverage 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.
“Our strategic partnership and investment in PopID furthers our decades-long mission to innovate in the payments space for merchants and consumers,” said Himanshu Patel, Verifone CEO. “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.”
About PopID
PopID provides a comprehensive platform for revolutionizing digital interactions and payments using consumer-initiated biometric verification. PopID’s platform gives consumers the option of identifying themselves quickly and easily – with their face or palm – for checking in, earning loyalty, ordering, and making payments – enabling more personalized, secure, and streamlined experiences. To learn more about PopID and its offerings, visit www.popid.com.
About Verifone
Verifone is a leading global payments technology provider trusted by the world’s top brands. Verifone powers the boundless payments grid—enabling distinctive commerce experiences for merchants, fintech companies, and financial institutions wherever commerce happens. By combining a flexible platform, an open ecosystem of 2,500+ integrations, and four decades of payments expertise, Verifone eliminates payment complexity and expands what’s possible across every payment channel. Each year, Verifone processes $8 trillion in transaction value across 165+ countries around the world helping businesses of all sizes to grow without limits. Learn more at www.verifone.com.
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