29 January 2020

Barclays takes a stake in Flux

Written By FinTech Alliance

Barclays takes a stake in Flux

Barclays has acquired a minority stake in London based FinTech Flux

In Brief:

  • Flux offers a digital receipt service, connecting banks and merchants.

  • It’s currently used by merchants like JustEat and KFC, and banks Monzo and Starling.

  • In the past year Flux has processes 1.2mn transactions.

What does this mean?

This is an extension of Barclays’ existing partnership with Flux, which started when Flux was part of the Rise accelerator programme in 2017. Following a trial period, Flux’s service will now be expanded to reach the bank’s entire UK customer base.

Read more here.

 

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