Mobile Wallet Kuapay Gets An Upgrade, Reaches 600 Locations Through Trials With KFC & Others

TechCrunch

Kuapay, a startup offering a consumer mobile wallet application and accompanying loyalty platform for merchants, is rolling out an upgraded version of its mobile app today. The app focuses on improved speed, security and a new user interface that makes it easier for users to track their credit card details, as well as discover nearby local merchants that support the Kuapay service.

Based in Santa Monica, Calif., the company was founded in 2011 by Joaquin Ayuso de Paul, previously the co-founder of Tuenti, which sold to Telefonica for $100 million. The company uses an interesting combination of QR codes, barcodes, NFC or manual entry, any of which can be used at point-of-sale as an alternative to the credit card swipe. For security purposes, the app doesn’t actually transmit the credit card information between the phone and the register. Instead, the company integrates with POS systems like NCR…

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