Objective The aim is to enable the widespread development of innovative payment applications with the active involvement of financial institutions (e.g. banks) providing supporting transaction services by creating an Open Payments Eco-system (OPE). The OPE is the critical step in widening access to payment services and to alternative, open, collaborative, lower cost methods of delivering payment applications to end users (particularly SME’s) who want to make use of payment services within their business. The Eco-system enables the SME developer community to provide creative new payment applications to the market and offers a high degree of re-use of common application components. OPE has the potential to fundamentally disrupt the current creation and delivery mechanisms for payment services, by providing for the low-cost creation of quality assured payment applications and the building and delivery of payment services, in a controlled and regulatory-compliant environment. Forecasting reports (Visa Europe – 2011 and PSE Consulting – 2013) indicate a potential market for prepaid payment services in corporate and consumer segments in Europe of >€140bn by 2020. The market application will initially be launched in the UK (2017-18) but quickly rolled out into the rest of Europe (2018 onwards) leveraging the expected OPE common coded regulatory compliance, with Italy, Spain, France and Germany being the focus. Ixaris specialises in the development of innovative global applications based on open-loop prepaid card schemes and the OPE will add a unique infrastructure to its product portfolio. This will be achieved by opening up the established payment infrastructure and in doing so disrupting the traditional way in which innovation in payments takes place within the current established banking eco-system. Fields of science social scienceseconomics and businessbusiness and managementinnovation managementnatural sciencesbiological sciencesecologyecosystems 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 IXARIS TECHNOLOGIES LIMITED Net EU contribution € 1 967 132,35 Address 2 STEPHEN STREET W1T 1AN LONDON United Kingdom 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 London Inner London — West Camden and City of London 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 € 3 401 676,75 Participants (1) Sort alphabetically Sort by Net EU contribution Expand all Collapse all IXARIS SYSTEMS LTD Participation ended United Kingdom Net EU contribution € 532 867,65 Address 5TH FLOOR 52 GROSVENOR GARDENS SW1 0AW London 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 London Inner London — West Camden and City of London 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 € 761 239,50