Alternative Payment Solution: Circle

2018-01-12
Price :
Published : Jan-2018
No. of Pages : 14

Alternative Payment Solution: Circle

Summary

Circle is a person-to-person (P2P) payment solution launched by Circle Internet Financial in 2013. Initially launched as a bitcoin-based solution, it eventually expanded its money transfer services to allow users to transact in currencies including US dollars, pound sterling, and euros. In December 2016 it discontinued bitcoin-based transactions; however, existing customers who had accounts before December 2016 could continue to transact in bitcoin through its partner, Coinbase.

To transfer funds, both sender and recipient need to download the Circle app on Android or iOS phones and create an account. Funds can be loaded to the account via debit card or bank account. Users can then send money by selecting the recipient’s mobile phone number from their contact list.

The solution is supported by a number of banks and financial institutions globally, including major players such as Bank of America, Chase Bank, Wells Fargo, Citibank, US Bank, and USAA Bank. It is now supported in 29 countries: Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, the UK, and the US.

The report provides information and insights into alternative payment solution Circle, including –
– Detailed insight into its business and geographical presence
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company’s important events and milestones

Scope

– In October 2013, Circle Internet Financial launched a person-to-person (P2P) payment solution, Circle.
– Circle has raised around $140m in funding since its inception from investors.
– In September 2016, Circle introduced its iMessage money transfer service for iOS 10 users, allowing them to transfer money.
– In October 2017, Circle launched Circle Groups for friends and family to send and receive money via group chat.

Reasons to buy

– Gain insights into Circle’s business operations, and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance
Publisher : GlobalData
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