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As account-to-account payments startups falter, Volume raises fresh cash
Online merchants can usually pay up to 8% of every sale on an item to companies like PayPal, Apple Pay, and Stripe — and those costs are usually
However, while A2A payments can eliminate these extra fees for small businesses, there’s been a slow adoption rate because of technical challenges, consumer loyalty to cards, and the need to offer services like refunds and multi-currency support. In a statement, Paolo Gesess, founder and managing partner at United Ventures, said: “Volume’s ability to grow GMV by 163x over the past year validates the enormous opportunity ahead.” Volume has also recently boosted its team, hiring Justin Sebok, formerly Head of Product at the Fintech Curve, Richard Frenken, formerly of iZettle, and Shannon Krishna from WorldRemit and Luno.
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