Opendata, web and dolomites

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.

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

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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