Montreal-based Mobeewave is an award-winning company revolutionizing technology, services and solutions in the fintech space.
In an increasingly cashless world, Mobeewave enables people to accept money in person using just their phones. Since its creation in 2011, the fintech has been a pioneering force in the mobile payment space and has created a patented solution to allow anyone to easily and securely accept payment.
Vincent Alimi, Chief Growth Officer of Mobeewave, said the Company is growing rapidly with key deployments in a number of markets around the world as the company works toward a new PIN on Glass product which will be ready for next year. ‘PIN on Glass’ is the ability to accept entry of the cardholder’s PIN value on a “glass-based capture mechanism” such as a touchscreen smartphone or tablet.
“We serve the underserved. Rather than target the end consumer, we target the smaller merchants who can’t really afford to have electronic payment terminals because it’s too costly,” said Alimi.
Mobeewave has the technology to enable merchants to accept money for anything, anywhere and from anyone using a phone. It’s the intersection of where mobile meets money and communication meets commerce.
“We’re revolutionizing the fintech space by making it possible for anyone to accept money using their phone,” said Alimi. “This technology has been approved by Visa and Mastercard and we are currently live in Canada, Australia and Poland.”
The Company says it is challenging every aspect of the current mobile payment paradigm.
“While developing our patented solution, we knew that security was a major priority for in-person payments. That’s why our technology uses an extremely secure piece of hardware embedded on the phones called the secure element.”
Alimi said the service is currently being used by 200 small businesses in Canada, 300 in Poland and 100 in Australia.
In Canada, the company partners with National Bank and Global Payments. In Australia, it’s with the Commonweatlh Bank of Australia. And in Poland, with PeP, one of the leading payment processors.
“In the short term, we are going to continue our focus on a major way in Canada, Australia, the UK and Poland,” said Alimi.
In June, the company announced its patented in-person contactless payment acceptance platform will be rolled out in the United Arab Emirates (UAE) – representing the Company’s first project in the Middle East and Africa (MEA) regions. It will enable merchants to accept payment from a contactless card or mobile wallet using just their phone – essentially turning their smartphone into a payment terminal.