Objective With VIMpay petaFuel aims to develop a mobile based payment solution to a stage that it is ready for European marketentry. The product will enable all smart phone users to participate in cashless payments, consolidating both card basedpayments (contactless as well as contactbased) and SEPA payments. The main USPs of the products are (1) that it enablesusers to do payments without the need for a bank account and (2) does so in a secure and convenient way without (3)requiring additional payment infrastructure, i.e. it is based on open and already established standards.petaFuel -together with third parties- has already established a sophisticated payment infrastructure and correspondingbusiness processes and brought demonstrators and proof-of-concepts into the market. Within this project these processesand infrastructures are extended and integrated to provide a mobile based payment solution that ideally caters for allpayment needs of end customers in the European SEPA region.This project does fit the call objectives by setting up a universal solution that enables smartphone users in the whole SEPApayment area to participate in online cashless payments. Furthermore VIMpay will be disruptive to the classic bankingmodels for private customers as VIMpay will provide a bank-independent payment solution and therefore does cater forunbanked customers as well as banked customers in Europe. The aim of VIMpay is to provide a one-fits-all solution forpayments consolidating technologies and standards. Fields of science engineering and technologyelectrical engineering, electronic engineering, information engineeringinformation engineeringtelecommunicationsmobile phones Programme(s) H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT) Main Programme H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument Topic(s) ICT-37-2015 - Open Disruptive Innovation Scheme (implemented through the SME instrument) Call for proposal H2020-SMEInst-2014-2015 See other projects for this call Sub call H2020-SMEINST-2-2015 Funding Scheme SME-2 - SME instrument phase 2 Coordinator PETAFUEL GMBH Net EU contribution € 1 165 325,00 Address Muenchnerstrasse 4 85354 FREISING Germany See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Bayern Oberbayern Freising Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Total cost € 1 664 750,00