Heartland Invests in Mobile Payment Startup Leaf
Boston-based mobile point of sale startup Leaf announced that it has secured $20 million in funding as part of a partnership with Heartland Payment Systems. Unlike other mobile POS providers, Leaf is developing a dedicated POS tablet device rather than a plug-in dongle compatible with existing tablets. The LeafPresenter tablet will be able to accept payments using magnetic stripe cards, NFC and EMV devices, and through a camera that will make it compatible with barcode- and quick response code-based payment services. The Heartland investment will be used to ramp up manufacturing of the tablet and to hire developers for LeafBusiness, the company’s cloud-based business analytics and management offering. It also will be used to develop the tablet’s app store, which will enable developers to create their own customized apps for the tablet. As part of the agreement, Heartland will develop its own apps for the Leaf platform, including payroll and ordering offerings, and join the startup’s network of distribution partners, giving Leaf access to Heartland’s large customer base.
From “MPos Start-Up Leaf Scores $20M Investment From Heartland”
Finextra (10/01/13)