Periodic Reporting for period 1 - DGC (SEPA in your pocket – development of a mobile payment solution based on a disruptive SEPA (Single Euro Payments Area) Credit Transfer approach for banks and the payment industry.) Reporting period: 2015-06-01 to 2015-11-30 Summary of the context and overall objectives of the project To help banks to anticipate new uses, to have a fair chance to compete with new players on the payment market, to reduce issuing and administrative costs through dematerialisation, to reduce the use of cash or to multiply the contact points with their clients, Digicash Payments aims to provide retail banks with a powerful mobile payment solution based on a disruptive SEPA approach.In this framework, the company has planned to adapt its Luxembourg product, live for already 3 years with four issuing banks, in order to build a stand-alone universal m-payment platform for European banks and PSPs. Digicash Payments is willing to provide them with a fully modular platform and seamless integration as well as a powerful all-in-one tool which delivers a best-in-class payment experience in each payment contexts (Point of Sale, bills, e/m-commerce and Peer to peer payments).Therefore, the main mission of the feasibility study was to prepare the launch of a specific product suiting the needs of European banks. Its objectives were to:- evaluate the relevance of the solution in targeted areas - define the product specifications - proceed to a technical assessment and prepare developments to be undertaken - define and validate the business model as well as the sales & marketing strategy- develop materials for fundraising Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far The work performed under SME Instrument Phase 1 allowed the company exploring and assessing the technical feasibility and commercial potential of its breakthrough innovation project. Market studies and contacts initiated with many European banks & payment specialists were particularly positive and validate the approach and positioning envisioned by Digicash Payments. Product and services have also been specified and the necessary technical developments already planned.The business model has also been validated. The distribution strategy has been defined and first contacts have been established with potential partners and European prospects. Large-scale pilot projects are discussed with some players in various countries. By actively participating in many events and conferences in Europe in order to promote its vision of the market and the future of the payment landscape, Digicash Payments also increased its brand and product awareness. Meanwhile, Digicash Payments has developed the necessary materials for fundraising. The company also attended some of the Europe's foremost networking and investment events. These events offered the company the opportunity to present its business across borders, and undertake directly with Europe's most active investors. Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far) On one side, for banks and the payment industry, Digicash will enable them to reduce the cost of current legacy payment systems, leverage their new SEPA payment channels and bring these to the POS by creating a new access layer for triggering and managing payments, and finally move up the value chain by broadening and enhancing their service offering to consumers and merchants, via peripheral features, banking features, integrations and new marketing strategies. On the other side, concerning consumers and merchants, Digicash Payments will provide them with new, faster, more secure and cost-effective payment tools and features, enhance the user experience, lower cost, and offer new kinds of services and functions: personal finance management, real-time credit, advanced loyalty programmes and cross-programme integration, special offerings and couponing, payments document management (bill presentment and archiving, electronic receipt storage)… digicash-02.png
