How they describe themselves: Empyr’s card-linked platform enables fintech companies and banks to monetize online-to-offline commerce – an estimated $4.5 trillion market opportunity based on the 93% of commerce that is still conducted offline in the U.S.
How they describe their product/innovation: With Empyr, fintech companies and banks automatically earn revenue on every offline transaction driven from their website, app or email, while simultaneously rewarding their consumers with cash back or points, and driving more business to local merchants. It’s truly frictionless – no coupons, loyalty cards or apps for consumers to manage, and no hardware or software for merchants to learn and maintain. Instead, it leverages something we all use – credit and debit cards. Empyr’s patent-pending technology is made possible through real-time data partnerships with Visa®, MasterCard®, and American Express®. Implementation is easy with the Empyr API. And the monetization opportunity expands every day through Empyr’s growing base of offline merchants.
Product distribution strategy: Licensed direct to business (B2B), through financial institutions, and through other fintech companies and platforms.