Project description
Reliable and secure mobile financial services
Banks may dominate the payments market, but significant areas of the mobile payments market remain fragmented along national borders. Mobile financial services (MFS) are now attracting immense interest representing a huge market opportunity. NETinfo has developed an all-inclusive payment system that will allow users to transact in a fast, easy-to-use, reliable, convenient, and secure way using their mobile phone, even when it is offline or set to aeroplane mode. The mobile wallet/platform is adapted to international banking practices. The EU-funded NETinfoPAY project will accomplish the feasibility study to confirm the business viability and compose a detailed business plan for the solution's successful commercialisation.
Objective
The NETinfoPAY is an all-inclusive payment system which will supply the EU and global markets with a reliable tool to allow for all types of transactions at various POS; a reliable mobile wallet/platform which will allow users to transact on a fast, easy-to-use, reliable, convenient, and secure way using their mobile phone, anytime from everywhere even when a mobile phone is in offline/airplane mode. The NETinfoPAY platform is developed with market state-of-the-art tools and adapted to international banking practices, providing the MFS users with a secure, user-friendly and powerful tool for mobile financial services. Currently the payments market is dominated by Banks hence NETinfo recognizes that significant areas of the mobile payments market, in particular card, internet and mobile payments, remain fragmented along national borders despite the European Union aspiring to an open, borderless market. Mobile financial services have been a target of development and investment for the last fifteen years. After a number of mostly ‘short lived’ attempts at kick-starting this promising channel by various players in the financial services industry, mobile financial services (MFS) are now attracting immense renewed interest. The introduction of an open unified digital mobile payments platform bringing together new and existing payment and banking processes as a means of offering the innovative digital products and services that are critical to retaining and attracting customers in an increasingly competitive market is imperative. Mobile payments market present currently a huge market opportunity and it is clear that keeping up with technological change is key to sustaining a long-term business model. In this sense, the aim of the proposed feasibility study is to confirm the business viability of the NETinfoPAY project and compose a detailed business plan to help with the solution's succesful commercialisation.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet
- social sciences economics and business economics monetary and finances
- social sciences economics and business business and management business models
- engineering and technology electrical engineering, electronic engineering, information engineering information engineering telecommunications mobile phones
- social sciences sociology social issues unemployment
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
2108 NICOSIA
Cyprus
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.