Zipmark, a New York-based payments startup, aims to “modernize the checkbook” by allowing users to pay for things online directly from their checking accounts.
Linking checking to the web isn’t new — PayPal already offers the service, for example. But to use PayPal, you need a PayPal account.
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With Zipmark, there is no secondary account. Instead, the service taps into the existing check processing network — imagine your phone or computer writing a check for you, without using paper or ink.
At least that’s how the company describes the service at its website; it’s hard to confirm functionality or ease of use at this point, considering the service is not yet available to the public. Before a full-on launch, Zipmark will likely need to build out a roster of merchants that receive payments through its service. TechCrunch says “several” companies have signed up so far, naming four in its write-up.
The young company (founded in March 2010) did take a step forward towards achieving that build out this week, releasing a developer program and application programming interface (API) as an invitation to other payment platforms for incorporating its service.
Jay Bhattacharya and Jake Howerton are the company’s co-founders. In December, the pair raised $2 million in seed money from a group of investors including Village Ventures and Contour Venture Partners.
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