With $1M And An Alpha, Leaf Aims To Overhaul The Payments Experience For Local Merchants

Leaf, a Cambridge, Mass.-based startup, is aiming to make the experience of paying in a shop more modern with paperless receipts for customers and transaction data in the cloud for merchants. Backed with $1 million in seed funding, the company just kicked off an alpha with more than a dozen merchants in Boston. It enters a super competitive and complicated space with many other players like PayPal, Intuit, Square, which has its own Pay With Square service, and Stockholm's iZettle. So first off, Leaf is not a mobile wallet. It's not a dongle. It's a service that's either an app integrated into a merchant's existing point-of-sale terminal or that's part of a special terminal that Leaf leases for $20 a month. There will also be a consumer-facing app that you can download in two weeks for the iPhone and Android devices.

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