Payments Investment Fails To Grow

The payments space faced a major test last year with Square’s IPO. It saw the mobile card reader and payment processing company list at a valuation of USD3.85bn, shaving more than 30% off the USD6bn it was valued at when it raised USD150m in 2014. The disappointing listing reportedly came as a result of the company’s inability to find further rounds of venture capital funding and highlighted not just a disparity between public and private valuations of tech companies in general, but also the challenges in mobile payments.