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Bluecode SIGNED

The Smartphone Payment Scheme for Europe

Total Cost €

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EC-Contrib. €

0

Partnership

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 Bluecode project word cloud

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

generate    card    visa    revenues    total    networks    quite    financial    lose    innovative    google    entire    expensive    19    hacking    addressable    interface    credit    130    besides    challenge    keeps    customer    cumulative    cumbersome    bank    assure    electronic    solution    payments    resorting    cashless    thanks    job    link    companies    dramatic    ewallets    entities    2020    conduct    commercial    situation    22    usa    market    industry    14    tackling    centuries    tokens    misuse    migrating    2022    consumers    internally    fintech    20    paypal    emotional    blue    cash    debit    billion    barcodes    performed    anonymous    decades    security    banks       ago    100    milestones    annually    inevitably    wallet    code    cards    generation    alternatives    sensitive    managed    name    mastercard    players    broadened    alternative    threatened    disrupting    million    mobile    possibilities    customers    contactless    payment    estimate    apple    data    relevance    popular    tools    cheques    profit    transactions    involve    positions    scheme    pay   

Project "Bluecode" data sheet

The following table provides information about the project.

Coordinator
SECURE PAYMENT TECHNOLOGIES GMBH 

Organization address
address: MULLERSTRASSE 27
city: INNSBRUCK
postcode: 6020
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]
 Total cost 2˙743˙440 €
 EC max contribution 1˙920˙408 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-2
 Funding Scheme SME-2
 Starting year 2019
 Duration (year-month-day) from 2019-09-01   to  2021-08-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    SECURE PAYMENT TECHNOLOGIES GMBH AT (INNSBRUCK) coordinator 1˙285˙721.00
2    BLUE CODE INTERNATIONAL AG CH (LACHEN SZ) participant 634˙686.00

Map

 Project objective

Cash has been the most popular payment method for centuries, but it is quite cumbersome and expensive. Decades ago, the payment possibilities were broadened with cheques and debit/credit cards, and recently a new generation of alternatives brought by FinTech companies is disrupting the industry with eWallets, contactless payment, etc. However, most of these new payment tools inevitably involve resorting to USA-based card networks (Visa and MasterCard) and electronic payment tools (PayPal, Apple Pay, Google Wallet). This represents a dramatic situation for the European financial industry, threatened to lose the revenues generated by the transactions but also the ‘emotional’ link with customers and even the whole payment process (consumers migrating to USA banks). How can we help tackling this challenge? Blue Code is an innovative mobile payment solution that will avoid the need of resorting to USA players to conduct the non-cash payments in Europe. Through our 100% European payment scheme, the entire payment process is conducted with European entities, so all the revenues and customer interface remains internally. Besides, we assure ‘security by design’ through an innovative payment method based on barcodes (Tokens) that keeps all the process anonymous, so no sensitive data like name, address or bank account is managed, and thus there are no possibilities of hacking of misuse. In Europe, 130 billion non-cash transactions are performed each year and this number is growing 6.5% annually. The alternative payment methods like Blue Code are increasing its relevance and are estimated to process 20% of the total cashless transactions by 2020, taking one third of the total revenues generated, thus a total addressable market of €22 billion. Thanks to the technical advances and commercial milestones brought by this project, we estimate to generate €19.6 million cumulative profit by 2022 and 14 new job positions.

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

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