Project description
New app makes it easier to pay and file invoices
Processing invoices anytime and anyplace. This would be a dream come true for many businesses and consumers. The EU-funded tap.pay.store project will commercialise the POM (Peace of Mind) patented invoice payment platform. Using a mobile app, it’s possible to pay, manage and archive – both paper and digital. It is as simple as taking a photo or scanning the invoice QR code. Not only is it a convenient solution, but the project will make it secure, reliable and confidential. With its top-down + bottom-up go-to-market strategy, POM will target a dominant position in the EU market. Launched in Belgium in 2016, POM already counts 200 000 users and more than 2 500 billers from all sectors.
Objective
POM = Peace of Mind. POM is our beyond state-of-the-art patented invoice payment platform, meeting TRL7, which will disrupt the EU invoice payment market, adding value to both biller and end-user.
Our flagship mobile app (to pay, manage & archive any invoice from any biller – both paper and digital) enables invoice admin on-the-go. POM saves up to 97% of the time needed to process invoices and reduces late payments with up to 33%.
POM is easily accessible and very convenient, but at the same time offers the security, reliability and confidentiality customers expect in their financial affairs.
POM will commercialize its platform on EU scale. The value of m-payment transactions in the EU-7 is expected to jump from €52 bn in 2016 to €125 bn by 2021. With its top-down + bottom-up go-to-market strategy, POM targets a dominant position of up to 30% market share per targeted country by 2022.
POM (°2014) has grown into a dynamic team of 8 people. POM has a strong management team with wide experience in e-invoicing and e-payments, amounting to a combined +35 years. POM is well connected at a national and international level. Our CEO is a delegate to the EU Forum on e-Invoicing, and an active member of the EU E-invoicing Service Providers Association (EESPA) and the EU Retail Payments Board (ERPB) working group. The team is regularly consulted by the Belgian government. POM has won various prizes and nominations.
Launched in May 2016 on the Belgian market, POM now reaches up to 200 000 users and +2 500 billers from all sectors, i.e. up to 15% market penetration after only 1.5 years.
POM closed deals with EDF (2nd largest energy company in EU), bpost (leading BE post operator) and ING (world leading banking group) increasing its user reach and customer base, and set up a long-term strategic partnership with Worldline (EU market leader in payment/transaction services). Business coach Charles Bryant, EU authority in the field of e-invoicing and e-payment, will coach us.
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.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques.
- social scienceseconomics and businessbusiness and managementemployment
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
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Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
2000 ANTWERPEN
Belgium
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.