July 18, 2012

Mobile payments company m-Via (Palo Alto, Calif.) today announced it is rebranding as Boom financial.

The company is known for its it's Boom service, a P2P mobile payments service targeted to the underbanked. Boom members can use their mobile phone to make money transfers of any size ranging from $5 to $1,000, as well as make purchases and withdrawals at participating Boom merchants and ATMs.

The company also announced it raised an additional $17 million in funds, and will use the investment to expand its product team in the U.S., as well as to increase sales channels and distribution in the U.S., Latin America, and the Caribbean.

[See Also: M-Via Launches Mobile Payment Service for the Underbanked.]

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...