TechCrunch – 1/15/16: It faces several formidable rivals, but Minkasu believes it has developed the easiest way to make mobile payments. The startup’s iOS and Android app stores encrypted credit card information, does not need passwords, and lets shoppers complete transactions with one click. Minkasu, which means electronic money in Tamil (the native language of its founders) has raised $1 million in seed funding from a group of individual investors, including entrepreneur Dan Palanisamy, who was previously vice president of mobile development and delivery at Bank of America; physician Kannappan Mohan; and Kuppanna G. Krishnan, a former professor at Southern Illinois University Edwardsville.The company will use the funds to attract more merchants onto its network and improve its technology.
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