Opendata, web and dolomites

Bluecode SIGNED

The Smartphone Payment Scheme for Europe

Total Cost €

0

EC-Contrib. €

0

Partnership

0

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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.

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

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.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "BLUECODE" project.

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

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