French startup Qori has officially launched services, allowing Europeans to make payments in store, remotely or online with their bank or virtual currency wallets without being required to download a proprietary app.
The “pay by bank” and “pay by crypto” tech is currently available to thousands of merchants via partnerships with Europe-based payment services providers, terminals distributors, ecommerce integrators as well as POS manufacturers.
At first, Qori will mainly focus on France, Spain and the UK markets, while promising an all-digital, multi-channel and affordable alternative to card payments.
The company has acquired 1.8 million Euros in seed funding from investors such as Hottinger, Golden Record Ventures, Firestartr, Systema VC and angels like former Stripe Europe head Guillaume Princen.
The proceeds will be directed towards expanding Qori’s development team and launch its product at scale into the luxury, hospitality and lifestyle industry segments, as well as online marketplaces.
Daniel Maurice-Vallerey, CEO at Qori, stated:
“Today, two fundamental trends are disrupting the payments industry and challenging the central role of cards: open banking and crypto. Qori is seizing this unique opportunity to become the preferred multi-channel payment method for in-store, e-commerce and remote transactions.”
As noted by its management, Qori is a “pioneer” mobile payment solution “allowing brick and mortar merchants to accept bank2bank and crypto2fiat payments on their phone, tablet or payment terminal, at low cost, by simply generating a QR code.”
Qori does “not require an app on the client side and features advanced tools that allow the merchants to engage both their unregistered and registered clients.”
Qori is another way to spell Quri in the Quechuan language. Quri (Qori) means Gold and it’s “also a mountain in the Cusco Region in Peru.”
Their goal is “to become the gold standard of payments and as solid and unshakeable as a mountain.”
They began their journey in 2021 with an idea that’s “developed into a pioneering mobile payment solution allowing traditional merchants to accept Pay by bank and Pay by crypto payments on their phone or tablet, at low cost, simply by generating a QR code.”