Paygilant Steps Up its US Mobile Payments Operations

October 9, 2019         By: Steven Anderson

The means to protect against mobile payments fraud are valuable means indeed, especially given that so many potential mobile payments users are sitting on the sidelines over security issues. Such an environment makes big potential possible for mobile payments security providers, and that’s just the environment Paygilant is walking into as it tipped us off about its recent expansion in Connecticut.

Connecticut’s strategic venture capital operation, Connecticut Innovations, offered up $750,000 for the company to establish a headquarters in Connecticut. The offered-up cash was part of a larger investment push, and gives Paygilant room to hire extra sales and marketing staffers, work toward greater product development, and support current operations at various stages of development and even post-release.

Connecticut Innovations’ senior managing director of investments Peter Longo noted “We are excited to welcome Paygilant, an innovative cybersecurity company with tremendous prospects, to Connecticut. In less than a year since going to market, the company has completed multiple successful installations and won a number of prestigious industry awards. We are looking forward to continuing to support Paygilant and its management team as the company grows here in Connecticut.”

When you’re operating in an environment that’s as security-conscious as the modern mobile payments environment is, it’s no surprise that people will take notice of any particular operation that can offer better protection against fraud. That Connecticut funneled nearly a million bucks into an operation that’s made as many advances as Paygilant has of late, in that light, isn’t really a shock. Sure, it’s not really a household name yet—the tools that keep us safe seldom are, unless they’re customer-facing, and Paygilant really isn’t—but it won’t be much of a surprise to see more firms getting involved with Paygilant to better protect against one of the biggest problems in mobile payments. Connecticut’s involvement here, meanwhile, presents clear opportunity for the state to add to its tax base, which is seldom a bad idea, especially considering the state of property taxes and exemptions in the United States.

Improving security is perhaps the best way to not only keep current mobile payments users current, but also bring in new users. Such a move is vital to the future of mobile payments, and Paygilant is part of the vanguard leading the way forward.