The dynamics of the payments industry are changing as consumers and businesses shift away from cash to digital payment methods. Despite this dramatic change, the frameworks for payment infrastructure have not necessarily adapted as rapidly. As pandemic-driven behaviors now become habits and the new normal, the payment industry is developing new frameworks that are retooling the core. DigiDoe is a multi-currency payment infrastructure platform for businesses and consumers that uses biometrics to provide secure payment solutions. The platform’s proprietary FacePay technology allows consumers to make payments without a card or phone using 7D authentication, eliminating the risk of fraud entirely. This leads to up to an 80% decrease in fees for merchants that they are then able to pass on savings to customers. Payments are also lightning fast and the infrastructure is scalable. Current credit card companies can handle 60,000 transactions per second; DigiDoe dwarfs this figure with its technology able to handle 200,000 per second. London TechWatch caught up with DigiDoe Cofounder Alexandra Vidyuk to learn more about the future of payments, the company’s strategic plans, and latest round of funding from investors that include Joint Journey, PLF the seed fund managed by Flashpoint Venture Capital ,and I2BF Global Ventures Ltd.
Nine new fundings totaling £1.1B in new deal activity for London startups for the week. London Tech News for the week ending 15/1 featuring news for Kodland, Sanctus, and much, much more.
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