Chinese Mobile Payment Firm Trunkbow Gets $5 Million From VeriFone


VeriFone, which makes point-of-sale equipment, like PIN pads, says it has invested $5 million in Chinese mobile payments firm Trunkbow, as part of the $22.5 million Trunkbow raised via a reverse merger. The investments puts a $65 million valuation on Trunkbow, according to a statement. Last year, Trunkbow partnered with a Chinese telecom carrier to roll out its mobile payments platform in one province and the company says it “plans similar deployments throughout multiple provinces with multiple telecom carriers.” VeriFone says the deal gives it “a seat at the table for cell phone payments in the world’s largest cell phone market.” More in the release.

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