Finovate Alumni News

On Finovate.com

  • “SuiteBox Teams Up with Midwinter to Ease Compliance Burdens for Investment Advisers”
  • “SigFig Partnership with UBS Features Equity Investment, Tools for Wealth Managers”

On FinDEVr.com

  • “PIMCO Selects Markit and KYC.com to Bolster Onboarding”

Around the web

  • PaymentEye interviews Azimo CEO Michael Kent in discussion with Ricky Knox, Tandem CEO.
  • Sberbank introduces fundraising function in mobile application.
  • Guardian Analytics partners with the Norman Group.
  • WePay unveils its white-label mPOS solution.
  • Misys wins awards for its work with Bank of Beijing and Vietnam Technological & Commercial Joint Stock Bank.
  • Green Dot announces plans to divide chairman and CEO roles.
  • Michigan First FCU leverages Insuritas to power Michigan First Insurance Agency for its members.
  • Bleu selected for VC Fintech Accelerator in Little Rock, Arkansas.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Debuts: bleu Unveils its Beacon-powered Point-of-Sale Solution

bleu_homepage_Nov2015

The bleu network leverages Bluetooth low-energy beacons to facilitate mobile transactions.

Bleu founder and CEO Sesie Bonsi built his solution around Bluetooth technology because of the way it can move payment data over long distances and ranges. “You can create different experiences and use-cases,” he said. “From a nearby transaction at a fast, casual restaurant terminal to reaching a terminal in a fancier restaurant that may be several meters away.”

Bleu_stage_FF2015a

Bleu CEO and co-founder Sesie Bonsi demonstrated his Point of Sale Network at FinovateFall 2015.

Bleu’s network is organized around Bonsi’s idea of the “payment experience.” He points to four features that embody this idea:

  • the ability to use any payment form available; “pure payment-type agnostic,” Bonsi says.
  • the ability to make both prepaid and in-store payments
  • the ability to process payments from any processor in the United States as well as 32 other countries (“pure payment-processor agnostic, as well”)
  • the ability to deliver in-store analytics and intelligent payment data to the merchant

In their demo at FinovateFall 2015, Bonsi and Brett Howell, bleu’s VP of business development, showed a pair of use-cases: a “prepaid” transaction combining an online payment with a beacon payment, and an “in-store” transaction using only the Bluetooth beacon technology.

Company facts:

  • founded in October 2014
  • headquartered in Los Angeles, California
  • Sesie Bonsi is CEO

How it works

Bonsi demonstrated bleu using the PowaPOS T25 platform, providing an “out of the box, plug-and-play POS solution” for merchants. The platform is EMV-ready and features a handheld scanner, integrated thermal printer, and Bluetooth smart-beacon. The beacon is a small wireless device that sends a low-energy Bluetooth signal to the user’s bleu app when a store is entered.

Bleu_terminal_captioned

For the consumer, both iOS and Android bleu apps are available for smartphones and tablets. The app can also be accessed via NFC over the payment beacon itself. Consumers can download the app, choose their preferred payment type, and begin searching for nearby businesses in bleu’s network. For security, payment data is tokenized so that no personally identifiable information is stored on the app or device.

Bleu_art_0

Consumers browsing through merchants on bleu’s network see a complete mobile storefront with photos and background on the business, and can access reviews from friends and colleagues in their contacts or friends lists.

Bleu_stage_tech_shot_1

Bleu supports both prepaid orders (orders placed outside of beacon range), as well as in-store transactions. A customer can order coffee and a pastry from their favorite cafe, be alerted that the order was received and, thanks to the beacon, have their order moved to the top of the queue when they come near the cafe.

Bleu_art_2

In-store payments are just as easy. When it comes time to pay, the person operating the point-of-sale terminal uses bleu’s payment beacon to identify and match the transaction with the customer. Bleu sends the customer a payment request through the beacon to their mobile device.

Bleu_art_4

The customer can add a tip, and pay the bill after authenticating with a fingerprint. Then the customer can send the payment back through the beacon to the merchant’s point of sale.

Bleu also provides merchants with in-store analytics and purchase-data transacted over the network. “We can unlock intelligent payment data about average wait times, menu items, customer demographics and a whole host of other valuable information, instead of just swiping a card,” Bonsi explained.

The future

Bleu is actively raising capital—”funding the revolution” as Bonsi calls it—by seeking investors who see the payment/processor/location-agnostic technology the same way he does, as a”fundamental shift in the entire payment process from start to finish.”

Right now, Bonsi says the technology is an ideal point-of-sale solution for high-volume franchise merchants and enterprises because of its ability to increase transaction speed. He added that non-financial institutions, such as colleges, have also expressed interest in the technology as a way to process students faster and more efficiently at the beginning of the semester.

Bonsai sees a role for bleu in everything from mobile payments to the internet of things. “The bleu network is going to be a core asset in the future of a connected body, home, city, business and industry,” he said. “We envision the bleu network changing the entire payment experience and creating a new platform for mobile transactions.”


Check out the live demonstration video from bleu.

Finovate Alumni News

On Finovate.com

  • “StockTwits Offers Brokerage Functionality Powered by Robinhood”
  • “Finovate Debuts: bleu Unveils its Beacon-powered, Point-of-Sale Solution”

Around the web

  • TechCrunch names Stockpile gift card on list of Awesome Gifts For Your Favorite 20-Something.
  • Prosper recognized as 24th fastest-growing company on Deloitte’s Fast 500. San Francisco Business Times places Prosper as number 3 of the Fastest Growing Companies of 2015.
  • Kashoo launches period-locking feature to lock data within prescribed timeframes.
  • Built in Colorado names Google, OnDeck, Ping Identity, Personal Capital, Xero, and PaySimple on list of top 100 tech companies in Colorado.
  • TickSmith’s TickVault platform earns the fast-growing firm an Innovators Award from FIA.
  • CenturyLink and Cogent enter into interconnection agreement.
  • RAGE Frameworks partners with Genpact, leveraging AI to automate financial processes.
  • Los Alamos National Bank chooses FIS as its new core banking provider.
  • National Bonds to deploy AML Risk Manager from Fiserv.
  • Geezeo launches its Life Infused Financial Experiences custom apps.
  • Let’s Talk Payments looks at edo Interactive and its partnership with Visa Europe.
  • Azimo extends its money-transfer service to Nigeria.
  • Fidelity Clearing and Custody teams up with EverSafe to help prevent elder financial abuse.
  • TransferTo joins forces with Continental Money to bring remittance services to Africa.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Bleu Introduces its PoS Network to Help Speed the Transaction Process for Consumers

BleuThis post is part of our live coverage of FinovateFall 2015.

The team for Bleu is up next, demonstrating its Point of Sale Network solution.

Bleu facilitates mobile transactions by using Bluetooth low-energy beacons in our PoS Network. A beacon is a tiny wireless device that sends a Bluetooth signal to a customer’s Bleu app when they enter a store. The beacon connects the customer to the store and when the customer is ready to pay, they select their form of payment and the transaction is automatically completed. Bleu has patented a mobile transaction process using Bluetooth low-energy beacons, and has developed a proprietary mobile point-of-sale and consumer application. This fully integrated solution conducts transactions from any registered payment instrument.

Presenters: bleu CEO Sesie Bonsi and Brett Howell, VP, business development

IMG_0318

IMG_0308

Product launch: September 2015
Product distribution strategy: Direct to consumer (B2C); direct to business (B2B); through financial institutions; through other fintech companies and platforms

HQ: Los Angeles, California
Founded: October 2014
Website: bleuco.com

FinovateFall Sneak Peek: Bleu

BleuHomepage

The Sneak Peek series looks at the innovators demoing live on stage at FinovateFall 2015. Be sure to pick up your tickets to our annual autumn conference, and we’ll see you in New York!

BleuLogoBleu facilitates mobile transactions utilizing Bluetooth low-energy beacons. Bleu has developed a proprietary mobile point-of-sale and consumer application.

Features:

  • Supports any payment type
  • Can process a transaction up to 250 feet away from the terminal
  • Uses Bluetooth low-energy beacons

Why it’s great
This first-time-ever revolutionary solution moves payment over Bluetooth supported on any iOS or android device.

BleuPresenter1Presenters

Sesie Bonsi, President and CEO
Graduate of Pepperdine School of Law and founder of Bleu, Bonsi is dedicated to using his background and knowledge in the areas of mobile payment and infrastructure to transform financial technology.
LinkedIn

BleuPresenter2Brett Howell, Senior VP Business Development
A graduate of Auburn University, Howell has more than 10 years’ experience in multiple business environments from a small-family business to a multinational corporation.
LinkedIn

 

FF2015BannerNoDate

Finovate Alumni News

On Finovate.com

Around the web

  • Yodlee’s startup incubator contributes to “Startup Fever.”
  • Revolut, Sedicii, SizeUp, & Token named Innotribe Startup finalists.
  • TIS signs deal to process school exams in Chile.
  • Trustly appoints Jonas Palmquist as chief financial officer.
  • FT.com features PsychSignal and Market Prophit in a discussion on market signals and social media.
  • Dwolla launches its white-label service to make it easier for FIs to use its FiSync transfer platform.
  • Segmint launches new marketing solution, Segmint Reach.
  • RetailWeek features TradeShift as startup of the week.
  • Lending Club celebrates surpassing $11 billion in loans.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.