At Kash, we’re on a mission to make payments better, faster, and safer. In the past year, over 200 retailers have used Kash to get rid of the payment pain. Today, we’re opening up our secret sauce to all developers everywhere.
We’re launching liveACH API.
liveACH is the first payment API that combines the speed and convenience of credit cards with affordability of ACH payments. liveACH is the first no-chargeback, instant payment alternative to credit cards.
liveACH is built on top of Kash’s proprietary algorithm that underwrites the risk of any transaction and clears it live for merchants, just like credit cards. But unlike credit cards, liveACH clears transactions using traditional banking networks. Instead of paying credit card companies 3 or 4% of their revenue, liveACH only costs developers 0.5% (half of one percent) per transaction.
I doubt there are more than a handful of people who know as much about payments in the US as Joe Saunders. He was the CEO of Fleet Credit Card Services, CEO of Providian, and President of Card Services at Washington Mutual. He is joining Kash as the Chairman of our Board.
Sam is an engineering rockstar who was part of Square’s founding team and the lead engineer that designed both the original software and hardware at Square. He is joining us as our Developer Ambassador. We’re going to use Sam’s advice to make sure that we do the best work we can for developers.
Finally, we’re announcing that we’ve raised a new seed round of $1.5M in additional funding, bringing our total funding to date to $4 million. The most recent round was led by Green Visor Capital, an early stage venture capital firm focused exclusively on FinTech startups. Joe and Sam are both assisting Kash as a part of Green Visor’s investment.