Online payments company eWise has raised $14 million in new funding led by Wellington Partners with Balderton Capital, TTV Capital,, and Patagorang participating in the round. This brings eWise’s total funding to over $26 million.
eWise develops a payments technology, called Secure Vault Payment, that allows users to automatically deduct a payment from their bank account without disclosing their personal information to online businesses. Payments are processed via a login and password to the bank’s site.
eWise expects that this payments technology could reach 400 million uses within 5 years. Clients include Citibank and First Direct (part of HSBC) in the UK, Ping An in China, Westpac in Australia and USBank in the U.S. The company plans to use the funding to expand further to the U.S. as well as for the development of a new mobile payments technology.
eWise is a payments and online financial management solutions provider with the objective of making transactiions online easier and more secure. eWise has offices in the UK, USA, China and Australia and partners with the National Automated Clearing House Association (NACHA) to power Secure Vault Payments. Secure Vault Payments is an industry standard which allows institutions or individuals to accept payment directly from a consumer’s bank. The consumer never has to provide payment details, only login credentials through their bank’s...