| Project Detail |
A smart way to pay in stores
Modern payment methods have rapidly replaced cash, personal cheques and even credit cards. However, the credit card networks (Visa and MasterCard) and electronic payment tools (PayPal, Apple Pay, Google Wallet) are all based in the United States, creating an unfavourable situation for the European financial industry. The result is a constant danger of losing revenue from transactions. The EU-funded Bluecode project proposes an advanced mobile payment solution that will allow European entities to handle the entire non-cash payment process. Based on barcodes (Tokens), the process ensures anonymity, security and resilience to cyberthreats. The market of non-cash payments is constantly growing in Europe and their Blue Code solution aims to process 20 % of transactions by 2020. |
