Alternative Payment Solution: Circle

2017-08-09
Price :
Published : Aug-2017
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 can 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, USAA Bank, Capital One, and Barclays. It is now supported in 19 countries: Austria, Croatia, the Czech Republic, Estonia, Finland, France, Germany, Ireland, Italy, Liechtenstein, Luxembourg, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, the UK, and the US.

Circle has raised $136m in funding since its inception from investors including Goldman Sachs, IDG Capital Partners, Breyer Capital, Accel Partners, General Catalyst Partners, Baidu, CICC Alpha, Everbright, WangXiang, and CreditEase.

The report provides information and insights into alternative payment solution Circle, including -
- Detailed insight into its business
- 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

- Circle was launched in 2013 and is supported in 19 countries.
- In June 2016, Circle raised $60m in venture capital funding.
- In September 2016, Circle introduced its iMessage money transfer service for iOS 10 users.
- In December 2016, Circle discontinued its bitcoin-based transactions.

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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