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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.

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

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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