PASSCLUBProject reference: 697631
Funded under :
H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
The multisided secure mobile wallet platform that can make mCommerce happen in Europe
Total cost:EUR 2 708 750
EU contribution:EUR 1 896 125
Call for proposal:H2020-SMEINST-2-2015See other projects for this call
Funding scheme:SME-2 - SME instrument phase 2
After years of isolated experiences carried out by Telcos and Banks, resulting in 55 failed mobile wallet initiatives across Europe (!), it appears that only an open, secure, cost-effective, neutral, fully scalable mobile wallet multisided platform with a “platform model”, has the capacity to federate the incumbent players willing to address the opportunity of mobile commerce (in-store with NFC, and online), and create the necessary user adoption.
This is what TORO is demonstrating in Norway, with 70% of the Banks and soon 100% of the Telcos connected to the VALYOU platform (http://www.valyou.no/en), where TORO is the key technological and now business partner.
After proving that TORO’s unique technology/model has been deployed successfully in Norway, our immediate objective is to replicate the model in Spain or France (then the Netherlands and Poland), before the Over-the-Top players (namely the Apple, Google, Facebook and Amazon) come in.
EU contribution: EUR 1 896 125
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