Objective The European e-commerce market is growing fast, but the complexity of setting up online payments and the concerns about credit card fraud still represent significant barriers that prevent many SMEs from trading online. Indeed, the EU’s target for 33% of SMEs to be selling online by 2015 is far from being met (only 14% in 2013). PayPlug Labs aims to offer SMEs a next generation payment system that will reduce software integration costs thanks to a state-of-the-art REST API, and provide low-touch fraud protection thanks to modern statistical algorithms and machine learning. The project fills the gap between traditional online payment solutions, that require expensive integration efforts, and e-wallet solutions. Additionally, existing fraud detection systems are commercialised separately and rely on dated “rule-based” technologies implying prohibitive set up costs for SMEs. The project will be led by PayPlug, a company created in 2012 that has developed an easy-to-install online payment “plugin” for micro-enterprises. The company is composed of a talented management team with a strong background (Google, Harvard, Polytechnique), and a high-profile advisory board. The company has attracted 1.4M€ of private investment and employs 10 full-time employees. Fields of science natural sciencescomputer and information sciencessoftwaresocial scienceseconomics and businessbusiness and managementcommercee-commercenatural sciencescomputer and information sciencesartificial intelligencemachine learning 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-37-2014 - 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-2-2014 Funding Scheme SME-2 - SME instrument phase 2 Coordinator PAYPLUG Net EU contribution € 1 750 000,00 Address 23-25 RUE JEAN JACQUES ROUSSEAU 75001 PARIS France 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 Ile-de-France Ile-de-France Paris 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 € 2 977 725,00
