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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - Digiteal (Digiteal: Next generation e-invoicing and e-payment platform, one-click and automatic invoice payment anywhere in the SEPA zone)

Teaser

Summary

The European financial sector has been opened up, creating significant opportunities for innovative consumer and business-oriented financial services that span the European Single Market. The EU is standardising the banking and payment landscape, in part through its Single Euro Payments Area (SEPA) payment-integration initiative for the simplification of bank transfers denominated in euro and in part with the upcoming PSD2 with payment initiation and account information services.

Digiteal is the next generation web and mobile electronic invoicing and payment system that enables payment in and between all countries in the SEPA zone. Digiteal is unique, offering a SEPA-wide domiciliation management platform for end-users. Our clients are B2C European companies that issue high volume of invoices in paper. We offer an intuitive platform to transmit and manage their invoices sent to consumers, and a low-cost payment enabled by SDD. This reduces their operating costs significantly, allowing issuers to gain significant financial savings with minimal implementation costs. Our end users (their customers) are able to conveniently manage and pay their mandates and invoices for free.

The Digiteal payment platform provides more consumer control, increasing business competitiveness and financial control - all whilst significantly lowering cost, environmental impact and carbon footprint. Our payment platform enables companies within the European Union to cut their interoperability transaction costs within and across the EU, and gives EU citizens complete control of their SEPA mandates.

Our solution delivers on several key European initiatives, helping make the Digital Single Market (DSM) strategy a reality and delivering the EU eGovernment Action Plan. Digiteal delivers a step-change in business (and European) competitiveness and aims to reduce the huge dependencies on US online payment services.

Work performed

Security architecture and auditing of the payment system:
Teal IT has developed a solid security architecture, an auditing system and procedures that enable it to operate payments in a safe way. Teal IT complies with the national and international regulations and the procedures are constantly updated.

Payment system module:
Teal IT has developed a solid and secure payment and risk management system. The fact that those processes are provided within Digiteal enables Teal IT to not rely on third party services for their payment and risk management. This gives Teal IT more independence and a much better margin on its operations.

Architecture of the mobile application:
As we reuse existing components, the architecture has been rapidly adopted and we were able to create the development, test and production environment around it. The communication between notification services and the Digiteal services is operational and every data transiting on the network (from platform to the mobile app) is secured and only readable by the recipient. New versions will be released in the future since we are still developing features. The chosen architecture allows us to respect the privacy of our customers and is a pledge of quality and security for our customers.

Implementation of the mobile application:
Today we are able to distribute our services through an application available for Android and IOS in a large list of devices and OSâ€™s. Thanks to our technologies and the test process, we are able to ensure availability and stability of our services for the people using their smartphone.
Hence, we are proud to have successfully developed a first market ready mobile app, as the next generation integrated e-invoicing and e-payment platform, which works in synergy with the Digital Single Market, allowing European businesses to go paperless.

Support Material and processes:
Digiteal provides a very comprehensive customer support including:
- FAQ
- In-app help with pop-ups, info-bubbles, badges
- Service portal
- Contact by a form on the public website and by email

Project management:
The planned tasks within our H2020 SMEI project have been performed successfully in the foreseen time. Digiteal is now live providing e-invoicing and e-payment services. All the technical barriers have been lifted. During the following months, we are going to replicate this success in more sectors and geographies throughout Europe.

Final results

Progress beyond the state of the art:
Digiteal provides a SaaS (solftware as a services) solution and a mobile application to enable e-invoicing and e-payment throughout the SEPA-zone. By operating the payments itself, Digiteal can provide an inexpensive and extremely user-friendly paying experience (a self-registration solution, 30 minutes integration time to add a pay button to bill issuers email invoices, no integration fees and no subsequent registration/renewal fee). This payment can be integrated in a broad range of solutions: paper, web portals, emails and mobile apps. Digiteal also provides recurrent payment automation controlled by the debtor which revolutionizes the way payments are done today. With Digiteal, customers scan, click and pay with no forms and no processing errors.

The Advantages of Digiteal:
- Our platform provides 5.75 times cheaper than the nearest competitor.
- Digiteal allows businesses to â€œGo Digitalâ€ easier than any current market solution thanks to different payment options we have developed (click to pay, and scan2pay) that increase consumer adoption.
- Digiteal allows businesses of all sizes to build new cash flow models such as adoption subscription-based payments while giving end consumers greater choice in how much and when to pay.

Added value:
- Our solution has a significant positive impact on the environment, as switching to e-invoicing decreases the carbon footprint of one invoice (lifecycle) by 63%
- Our simple scan2pay (QR code) for customers enables a very intuitive use of the app, allowing everyone to use it.