Poynt builds smart payment terminals and an open OS that can power any payment terminal worldwide. The company was launched in 2014 in Palo Alto by Osama Bedier, the former VP of Wallet and Payments at Google. In the last 16 months Poynt has shipped roughly 150,000 terminals. The company says total payment volume will exceed $25 billion in the next year. Poynt positions its platform as a developer-facing canvas for merchant and customer experiences and plans to bring its technology to Asia, Europe and South America. Poynt develops the Smart Terminal, a smart payment terminal and open commerce platform that brings developers, distributors and merchants together. The platform runs on the Smart Terminal to give merchants access to tools and technology to manage their business. The company is led by Founder & CEO Osama Bedier. Poynt raised $28M in a Series B venture capital round to support its growth. It intends to use the funds to accelerate manufacturing, grow the team and scale operations. As part of the round, Ann Lamont of Oak HC/FT joined Poynt’s board. Poynt was founded by former Google Wallet head and longtime PayPal exec Osama Bedier to build a developer-friendly, Android-based payment terminal combining a tablet and docking station that supports magstripe, EMV, NFC, Bluetooth, QR codes and beacon technology. The device includes dual screens (merchant and consumer), a hybrid card reader, built-in printer, multiple connectivity options, an 8-hour battery, and secure hardware for encryption keys to meet EMV requirements. Poynt ships three core apps (terminal, register and a "co-pilot" insights app), offers an SDK, and is working with third-party developers such as Vend, Kabbage, Swarm, Boomtown, Bigcommerce and Intuit to expand the ecosystem. The company sells hardware at cost to drive distribution (including direct sales and through banks) and captures revenue via software subscription fees, taking a 20% cut of those fees and sharing revenue with the acquirer. Poynt has booked deals with at least two of the top five U.S. banks and is positioning itself as a preferred terminal recommendation as merchants migrate to EMV; the company does not take fees on payments themselves. The company has raised a Series A (size undisclosed) to support these product, distribution and ecosystem efforts.

Total raised

$128M

Funding rounds

3

Latest round

Series C

Latest activity

Nov 2018