Between PayPal, Square and NFC technologies, mobile payments are heating up. There's no doubt that your mobile phone will soon serve as your wallet. Today, startup Tabbedout, a platform that allows you to pay your restaurant or bar tab with a smartphone, has raised $3.7 million in additional funding from New Enterprise Associates to complete the company?s Series A round of venture funding, totaling $5.75 million. This brings the company's total funding to $6.5 million. Tabbedout's apps, which are available for the iPhone and Android platforms, partners with restaurants and other establishments to allow users to pay for their bills via the designated app. Unlike other mobile payment platforms, Tabbedout allows users to store credit card information directly on their phone, encrypted and under passphrase protection, instead of on Tabbedout's host servers. That way, consumers are safe from the threat of lost or stolen credit cards.
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