First Data has entered into a new partnership with CardSpring, an innovative payments platform, according to TechCrunch.
The product of former Netscape engineers, CardSpring is an attempt at building a platform that connects web and mobile applications to payment cards. Because the platform works in the cloud, developers should be able to build applications that automatically respond whenever consumers make a purchase with a particular card, perhaps with loyalty offers, TechCrunch says.
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The report on CardSpring’s partnership with First Data does not mention a financial investment. To date, the startup has disclosed $10 million in equity backing, raised through a Series A round in January.
Read the full story here.
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