China based provider of mobile payment services raised $20m in funding led by Sequoia Capital China and Matrix Partners.
QFPay is the largest global partner of WeChat Pay and Alipay, enabling them to process payments to merchants around the world. Founded in 2012, QFPay first launched in China and is known for its QR code-based technology. Its products include end-to-end online and offline mobile payment solutions and add-on services like food ordering and customer loyalty programs. The company claims that it has served more than 1.2 million merchants and processed over 1 billion transactions.