Payair receives further investment of SEK 25 million
Payair has successfully completed a directed equity issue, generating a cash injection of SEK 25 million from existing shareholders.
“The investment lets us focus on our core business and enables us to make viable long term business decisions”, says Sören Babra, CEO, Payair Technologies.
“We are confident that Payair will succeed in capturing a significant market share and build new business with Nordic financial institutions and global payment systems. Ensuring a strong capital base is a critical success factor in this work“, says Ulf Rosberg, Chairman, Payair Technologies.
Payair is the industry leading mobile shopping solution that offers a fast, easy and secure way for consumers to shop using their smartphones. With the Payair application, consumers can complete their mobile purchase processes in less than ten seconds, on the Internet, as well as in retail shops, restaurants and other shopping environments. Businesses can speed up and simplify their sales processes, resulting in increased sales by using Payair’s suite of mobile shopping solutions.
The purchase process includes a purchase button or scanning of QR codes that activates the Payair service on smartphones, authenticates the user, self-checkout and payment by credit or debit card from MasterCard or Visa. The solution is secured with multiple layers of encryption and no sensitive data are stored in the phone. The solution is free of charge for the customers and easy for the merchants to implement within their existing payment systems.
Payair is a privately held Swedish company with franchise partners in over 25 countries.
Payair is the leading player in mobile commerce and offers an industry-leading platform for mobile commerce and payment solutions for financial institutions. With extensive experience in the development of mobile payment solutions for some of the world's largest banks and financial institutions, Payair is an expert in the development and hosting of digital wallets that make it possible to quickly, easily, and safely pay directly with your smartphone in less than ten seconds online and in physical stores.
- Payair was the first company in Europe to develop a digital wallet that converges all bankcards on your smartphone.- Payair was the first certified vendor of Mastercard's MasterPass API wallet in the Nordics.- Payair has been appointed as Mastercard's highest-rated vendor.
Payair is a privately-owned Swedish company with international franchise agreements in most markets worldwide.