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Paybon

Paybon - disrupting the massive global meal voucher market with a smartphone delivery system

Total Cost €

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EC-Contrib. €

0

Partnership

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 Paybon project word cloud

Explore the words cloud of the Paybon project. It provides you a very rough idea of what is the project "Paybon" about.

competitors    digitally    patentable    round    vouchers    proposing    digital    savings    attracts    standard    20    expire    web    charged    paybon    sodexo    verification    launching    global    programs    convenience    restaurants    distributed    accounting    voucher    boost    changeless    impacts    disadvantages    budgetary    smartphones    positive    commercial    employees    meal    annually    redemption    edenred    providers    allocated    expiration       redeemed    dominated    sme    competitive    disrupt    date    unredeemed    portions    waste    paper    environmental    fees    private    smartphone    ict    automated    100    company    prove    local    transaction    utilize    eliminating    approximately    billion    clearance    money    issued    opportunity    improves    point    phone    payment    time    instead    efficiencies    benefit    innovation    austrian    losing    physical    created    worldwide    proprietary    ip    larger    feasibility    internal    enormous    creates    form    sale    simply    59    employee    solutions    launch    market    infrastructure    reduces    viability    potentially       50    rate    employers    social    30   

Project "Paybon" data sheet

The following table provides information about the project.

Coordinator
PAYBON GMBH 

Organization address
address: SEIDENGASSE 42/17
city: WIEN
postcode: 1070
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Austria [AT]
 Project website http://www.paybon.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2016
 Duration (year-month-day) from 2016-08-01   to  2017-01-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    PAYBON GMBH AT (WIEN) coordinator 50˙000.00

Map

 Project objective

Meal vouchers have become a common part of employee benefit programs, growing to a €59 billion worldwide market annually. To date this market has been dominated by two global providers, Sodexo and Edenred, accounting for approximately 30% of the market each, as well as internal proprietary company solutions and some local providers. Most of the vouchers are still issued in paper form with its numerous disadvantages. The rise of smartphone technology and digital payment systems has created an enormous opportunity to disrupt the meal voucher market. Paybon GmbH, an Austrian-based ICT SME, is exploiting these trends by launching a fully-automated smartphone-based voucher system that boost efficiencies, reduces costs, and creates positive social and environmental impacts. Vouchers can be simply generated by employers and distributed to employees via an web application, and can be redeemed digitally at the point of sale with their smartphones. It is the web-based infrastructure that allows real-time voucher redemption, verification and clearance from phone to phone that is the real and potentially patentable state-of-the-art innovation behind Paybon. As well as convenience, Paybon improves on current solutions by bringing value for money. Paybon attracts employers by proposing up to 50% savings on transaction fees compared to competitive solutions, as well as eliminating budgetary waste from the estimated 10-20% of physical vouchers that expire or are unredeemed. Employees benefit as they can utilize 100% of their allocated voucher, instead of losing portions to changeless systems or through expiration. And restaurants benefit as they are charged just 2-4% transaction fees, compared to the main competitors’ standard 5% rate. Paybon now seeks to launch a feasibility study prove commercial viability and IP potential, enabling it to raise a larger private funding round and take the product to market for widespread application.

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The information about "PAYBON" are provided by the European Opendata Portal: CORDIS opendata.

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