The retailer then scans the code to receive the payment. Like Starbucks' app, it processes payments using QR codes: The user preloads money onto the wallet, and then at the point of sale, a unique QR code is generated for each transaction. This makes it the second-largest mobile wallet in Britain, the co-founders say - second only to Starbucks' own app. ![]() Over the last year or so, Yoyo has seen strong growth and currently processes 150,000 monthly transactions. It distinguishes itself with its narrow focus - university campuses - and its ability to offer deals to its customers and Launched at the start of 2014, Yoyo is one of an increasingly crowded field of mobile apps that lets users pay for goods with their smartphones. Michael Rolph and Alain Falys, co-founders of Yoyo.īritish mobile wallet startup Yoyo has closed a $10 million Series A funding round and is now eyeing the US as part of its "global ambitions," co-founder Alain Falys told Business Insider.
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