Another Google Wallet veteran touts startup, this time in mobile payments

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Poynt Co.

Osama Bedier, the founder and CEO of payments technology startup Poynt, says his company's smart terminals can work with a wider array of payment types and services than competitors like Square.

For the second time in two days, a former Google Wallet chief and PayPal executive has taken the wraps off of a new startup.

On Tuesday it was Stephanie Tilenius and Vida, her San Francisco-based health coaching startup.

On Wednesday it is Osama Bedier and Poynt, a Palo Alto payments company that has introduced a smart terminal aimed at small and maedium-sized businesses that is a rival to Square, among others.

Bedier's company announced in a news release Wednesday that the Poynt Payment Terminal works with all payment types, not just credit cards like Stripe nor is it dedicated to just one provider like services offered by Google Inc., Apple Inc. and a coalition of merchants that includes Walmart.

Poynt also revealed a software development kit for the new device, which opens up the possibility for software developers to create apps on top of it.

Bedier said he is backed by an undisclosed amount of Series A funding from Matrix Partners, Webb Investment Network, Nyca Partners and angels.

"Poynt is an absolute game changer," said Dana Stalder, a general partner of Matrix and an ex-executive of PayPal, in Poynt's press release. "Apple and Google have proven that there is a $100 billion-plus-and-growing market for consumer applications. When you consider the opportunities Poynt makes available to all merchants in terms of making their businesses smarter and more consumer friendly, we believe Poynt's potential is limitless."

CEO Bedier said in the release that the company aims to solve the disparity that in-store technology still centers on a glorified calculator, while millions of consumers carry supercomputers in their pockets.