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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.

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

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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