Mobile point-of-sale technology provider CardFlight announced on Tuesday (March 8) its integration with digital payments and FinTech firm Stripe to enable developers to accept EMV chip card payments within mobile applications.
As part of the collaboration, CardFlight will make its EMV chip card-enabled mobile card readers, which will also accept magnetic stripe payments, available to Stripe merchants and developers.
"Together with Stripe, we can enable more developers than ever to quickly, easily and securely accept EMV chip card payments in their apps," Derek Webster, founder and CEO of CardFlight, explained in a press release. "Our goal is to enable companies and developers to accept payments in their own apps without having to invest in building their own payments infrastructure. Today's announcement is another leap forward in that mission."
The offering will include software developer kits for iOS and Android, providing the ability for mobile app developers to support card-present payment acceptance for their own native apps. CardFlight said point-to-point encryption, tokenization and a PCI Level 1 compliant payment gateway will also be provided, enabling transactions to be routed from the card reading device to a customer's Stripe account securely.
"Our focus has always been on providing our users with the tools and the infrastructure to make it easier to start and manage an Internet business," added Stripe Head of Business Development Cristina Cordova. "Through our integration with CardFlight, we can now offer further flexibility to our users who wish to accept credit and debit cards, both online and in person."
Just last year, CardFlight announced the completion of its $4.2 million Series A funding round, co-led by an investor group assembled by Dan Henry and MATH Venture Partners. Henry was CEO of NetSpend from 2008 to 2014 and is known as a serial entrepreneur.
“Derek [Webster] is a brilliant, tenacious and resourceful entrepreneur,” Henry told PYMNTS on his decision to lead the round. “He and his team have built a superior mobile payments solution and combined it with a beautiful business model to service the ISO channel. Not to mention great STKs that leverage the team’s expertise.”
“In addition to me, our investment group includes five other very accomplished and experienced payment executives. We all clearly and quickly saw the value of the CardFlight offering and the potential of the business. Each of us are available to Derek and his team to provide advice, introductions, influence and references. Whatever we can do to help accelerate growth and make the business successful.”