Mobile Commerce

Mozido Jumps on the Mobile POS Bandwagon

All the cool kids are doing mobile point-of-sale systems, right? Well, that was potentially part of the thinking process for investors that helped finance the Austin, Texas-based startup called Mozido.

According to an Austin Business Journal article, the mobile payments startup Mozido recently reported a $103.4 million funding round. Founded in 2008 by Michael Liberty, Mozido develops cloud-based mobile payment systems and marketing software.

This is not the first time that Mozido has raked in some serious cash. Back in December, the company announced that it had received the first $30 million of a committed $70 million round of financing that was led by a Boston-based investment adviser.

“My vision for Mozido is to enable financial inclusion by delivering disruptively-priced financial, payment and marketing services through the convenience of mobile phones to the financially disenfranchised people of the world,” Liberty said in a news release at the time.

The company has been continuously growing for several months. For example, In Novembember 2013, Mozido announced that it was given an undisclosed amount of capital to to implement a mobile payment system in El Salvador. Additionally, in March 2014, Mozido bought customer loyalty software maker StickyStreet Inc., which has customers such as Toys-R-Us Inc., Harley-Davidson Inc.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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