Palo Alto-Based Bling Nation Lands $8M for Cell Phone Payment System

Palo Alto, Calif. -- Bling Nation, the Palo Alto-based developer of a mobile payments infrastructure service, said that it has raised $8 million in a new round of funding from Lightspeed Venture Partners, Meck and Camp Ventures. The company said that it will use the capital to help community banks set up the infrastructure required to use its Redi Pay Bling mobile payments service. To use the service, consumers must attach stickers to their cell phones that contain radio frequency ID (RFID) tags with special security features. The stickers can then be used in conjunction with the phones to make purchases in physical stores. Bling Nation was founded in 2007 and has 25 employees.
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http://www.blingnation.com/files/content/0/274/Bling%20Nation%20Series%20A%20Funding%20FINAL.pdf (PDF)