CardSpring, an ambitious payments startup founded by former Netscape engineers, is building a platform that connects web and mobile applications to payment cards. It’s a card-linked payment infrastructure that can work across any bank or card type (Visa, MasterCard, Discover, AmEx, etc.), because it sits in the cloud, and is attached to the payments network directly. This enables developers to build card-linked applications that trigger when a consumer pays by credit or debit card, whether it’s an app delivering coupons, offers, loyalty points, frequent flier miles, recommendations, or more.
Now, the startup is taking a big step in terms of making this all happen, as it has partnered with the First Data payments network, the largest payment processor in the U.S., reaching over 4 million merchant locations, and accounting for over half of the U.S.’s payment infrastructure. Also new, CardSpring has added a handful of big-name strategic investors who cover every aspect of its business: API franchises, online advertising, big data, and finance.