COO resigns from Clinkle after less than six months

Clinkle, the mobile payment start-up company, has lost its chief operating officer Barry McCarthy, who resigned after less than six months.

Clinkle, the mobile payment start-up company, has lost its chief operating officer Barry McCarthy, who resigned after less than six months.

McCarthy joined Clinkle in October, after spending 12 years as executive of online media streaming outfit Netflix. He was told that the company mobile app product would be launched in November 2013; it still hasn’t.

In June 2013, Clinkle raised eyebrows when it secured $25m in seed funding from a group of venture capitals (VCs) and private investors – including Virgin CEO Richard Branson. At the time, very little information has been revealed about its product.

"They are not nearly as close to scaling the businesses as I thought they were when I came on board. And that is what I do," McCarthy said.

Lucas Duplan, 22-year old CEO and founder of the company, announced that the leaving COO will continue to advise Clinkle and himself personally. Duplan and CFO Mike Liberatore – coming from PayPal – will take on the managerial responsibilities.

Clinkle also announced that its app had gone live and was being tested with the plan to get it publicly available on college campuses later this year.

Tech giant Google’s mobile wallet app – launched in September 2012 – is still struggling to find a customer base following a scale back of services, and was furthered hampered by the departure of its VP Osama Bedier in May 2013.

Also the US company Isis has recently announced a new partnership with American Express. Until June 2014, the bank’ cardholders who have registered with the Isis mobile wallet will be able to receive 50% back when they tap to pay for a ride in a qualifying New York City Yellow Medallion Taxi.

The UK has seen a resurgence of interest in mobile wallets with Znap and PowaTag both generating press interest.

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