5 Startup Payment Services On The Rise

From PayPal Holdings, Inc. PYPL’s Venmo to Zelle and Square, Inc. SQ, recent developments and creative visions have substantially altered the use of financial services.

According to a 2017 study by Applause, 61 percent of people access mobile banking on a regular basis. In anticipation of the Benzinga Fintech Summit Nov. 14., here are a few startups that compete in the quickly expanding payment services space.


Based in San Francisco, Stripe provides services to businesses in over 100 countries across every industry. It aims to equalize the speed of growth between the influx in businesses and the advancements in internet-based practices.

The company offers applications that manage revenue, prevent fraud and expand internationally, according to its website. Postmates, Slack and Uber are among the most popular companies that implement Stripe.


Founded in 2010, Dwolla was designed to simplify the process of moving money.

“Dwolla now facilitates the movement of millions of dollars every day with low transaction costs, easy automation and near-perfect reliability. The goal is to make an incredibly complex process feel simple, easy and seamless to the people who use it—our customers and their end users,” the company's website states.

The company offers services that integrate payments, automate payments and transfers and keep all financial information secure. Tripcents, Thor and Kidfund are among brands that use Dwolla.

Slim Pay

Created in 2009, SlimPay considers itself a pan-European expert in both the management and simplification of recurring payments and subscriptions. SlimPay has reported growth of 70 percent in the past four years, as it serves as an authorized payment institution regulated by banking authorities.

SlimPay launched its Subscription Lab in 2017 and has over 60 experts in cities such as Munich, Milan, Amsterdam and Madrid. The company offers services to companies such as Deezer, Lendix and Unicef.

Cheddar Up

Founded in 2012, Cheddar Up was designed to eliminate the stress when collecting money from a group of people. The company’s platform allows for the user to create a collection page with details and information on the required payments. Once built, the page can be shared through a customizable link that can be posted on social media or sent directly to the group.

According to the company website, Cheddar Up provides detailed payment and item tracking before submitting and saving the history. Additionally, users are able to withdraw money directly to a bank account for free. This platform is often utilized by school groups, extracurriculars and sports teams.


Started in 2008 as a peer-to-peer payment service, WePay later pivoted to business-to-business and business-to-consumer based initiatives. The company surpassed $1 billion of annual processing in 2014 and was acquired by JPMorgan Chase JPMin 2017.

The company provides simple and fast integrated support for multiple payment methods, as well as merchant control of scheduled payouts. Additionally, integrations have the ability to be customized to fit each merchant experience and the company offers 100 percent coverage for payments-related risks.

WePay serves billions of consumers annually and provides for platforms like BigCommerce, Constant Contact, and GoFundMe.

Want to learn more about other companies and executives in the fintech industry? Get your tickets to the Benzinga Fintech Summit in San Francisco here. Executives from payments companies Kabbage, Venmo and Plaid will be there.

Related Links:

The Future Of Cryptocurrency: A Chat With Elixxir CEO David Chaum

Sentieo Announces $19M Funding Round: 'A Major Player In The Financial Research Technology Industry'

Photo courtesy of Stripe.

Posted In: Benzinga Fintech Summitcheddar upDwollaslim pay WePayStripeCryptocurrencyFintechStartupsMarkets

Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month