Zeal Targets Four Million Payment Terminals After US$10M Funding

Zeal has raised US$10 million in new funding, taking its total raised to US$14 million.

The London-based company builds loyalty and merchant-intelligence software for payment terminals.

It has signed contracts with acquirers worldwide to activate its loyalty software on more than four million payment terminals within two years.

The company has not disclosed the investors in this round.

Online retailers can track customers through connected transactions and loyalty platforms. Physical retailers often cannot.

A card payment can pass through a terminal without giving the merchant useful insight or the payment provider a clear account signal.

Terminal manufacturers, operating systems and acquiring platforms each set their own integration requirements.

That fragmentation makes it harder to connect a terminal to a merchant’s loyalty engine than to simply add an app at checkout.

“With signed acquirer contracts covering more than four million card machines,

this funding supports the next 24 months of activation and the next stage of Zeal’s growth,”

said Omar Ebeid, co-founder and CEO of Zeal.

“Our work is to connect terminal journeys, loyalty and merchant insight across different payment environments,

so partners can bring a consistent proposition to their merchants,”

said Belal Mohamed, co-founder and CTO of Zeal.

Zeal’s earlier backers include Raed Ventures, Pinnacle Capital and CUR8 Capital.

Featured image: Edited by Fintech News Switzerland, based on image by Zeal via its website.

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