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
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
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.
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)…