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RFinity
AddedFeb 17, 2024
UpdatedJun 18, 2026
RFinity

RFinity

RFinity offers a secure mobile payment app for instant P2P transactions, extending electronic payments to new venues.

HQ
Idaho Falls, ID, US
Founded
2008
Overview
Compare
Fundraising
Employees

RFinity’s Person-to-Person payment app lets cell phone users instantly start making and receiving PayPal payments – in the real world! When making purchases, RFinity’s patent-pending peer recognition technology connects buyers to sellers without their needing to type in the other party's email or cell phone number. This ''Near Field Communication-like'' experience simplifies the buyer-seller recognition process – using existing cell phones. Presently available in the Android Marketplace, RFinity P2P is conducting a staged release on iPhone, Android, Blackberry, Windows Mobile, Nokia/Symbian, and BREW. The RFinity P2P Mobile Payment platform safely extends electronic payments to new venues, such as: * Street fairs * Garage sales * In home product sales * Items sold via newspaper and internet classified ads * Borrowing and repaying among friends * Instant payment for home services * Anyone normally paid in cash In addition to the P2P app, RFinity provides a traditional NFC solution, which uses NFC stickers to conduct contactless payments at RFinity-enabled VeriFone credit card terminals.

Users simply tap their RFinity sticker on the credit card terminal, approve the purchase amount and enter their PIN. This technology is currently being used by students of Brigham Young University -- Idaho (BYUI) to make purchases on campus and at nearby merchants. RFinity payment pilots have been underway since August 2009. On the research side, RFinity also has conducted trials of NFC-enabled microSD cards (starting in Aug 2009) at BYUI. This platform enables ordinary cell phones to conduct secure payment and identification transactions through the use of a special type of microSD card. The RFinity microSD card contains an embedded near field communication transponder, secure processor, and protected memory storage. RFinity is demonstrating the power of the Mobile Open Encryption Platform through mobile payment processing and identity authentication transactions. This platform can be incorporated into a myriad of other applications developed by 3rd parties.

RFinity - Quick Facts

When was RFinity founded?

RFinity was founded in 2008.

Where is RFinity's headquarters located?

RFinity's headquarters is located in Idaho Falls, ID, US.

When was RFinity's last funding round?

RFinity's most recent funding round was for $4M (USD) in February 2011.

How much has RFinity raised to-date?

As of Feb 1, 2011, RFinity has raised a total of $4M (USD).

How many employees does RFinity have?

RFinity has 30 employees as of Feb 4, 2024.

RFinity - Classification

NAICS
  • 520000Finance and Insurance
  • 522000Credit Intermediation and Related Activities
  • 522300Activities Related to Credit Intermediation
  • 522320Financial Transactions Processing, Reserve, and Clearinghouse Activities
SIC
  • 8700Engineering, Accounting, Research, Management, And Related Services
  • 8740Management And Public Relations Services
  • 8742Management Consulting Services
Show 4 more industry codes
SIC
  • 6000Depository Institutions
  • 6200Security And Commodity Brokers, Dealers, Exchanges, And Services
  • 6280Services Allied With The Exchange Of Securities Or Commodities
  • 6282Investment Advice