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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.

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

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

Leaflet | Map data © OpenStreetMap contributors, CC-BY-SA, Imagery © Mapbox

 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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