Dream Payments Launches EMV MPOS System in Canada

Dream Payments Launches EMV MPOS System in Canada

DreamPayments_homepage_Nov2015

Are you a small business dreaming about an off-the-shelf EMV mobile point-of-sale solution that accepts everything from Interac debit to chip-and-PIN cards to contactless payments?

Well, if you are a Canadian small business, you’re in luck: Dream Payments has teamed up with TELUS to bring EMV-ready mPOS technology to retail merchants in Canada.

Dream Payments CEO Brent Ho-Young noted both cost and quality in talking about his company’s technology compared to the status quo. “For far too long, small businesses in Canada have been forced to choose between insecure magstripe card readers or purchase expensive EMV payment terminals with monthly fees,” Ho-Young said. “That stops today.”

DreamPayments_stage_FS2015

From left: Dream Payments Chief Operating Officer Anant Tailor and VP of Business Development Christian Ali demonstrated Dream mPOS at FinovateSpring 2015 in San Jose, California.

The solution, Dream Mobile Point of Sale (mPOS), consists of an mPOS app for Android and iOS devices, along with a Bluetooth-enabled EMV credit and debit reader powered by the Dream Payments Cloud. The solution allows merchants to accept payments and issue receipts, as well as manage product catalogues and monitor sales in real time. Dream mPOS also comes with an online dashboard where business owners can create reports, study analytics, and more, right from their smartphones.

The card reader is available through TELUS for $100. Interac debit-card transactions have a processing fee of $0.25; Visa and MasterCard credit transactions have a fee of 2.75%.

Founded in June 2014 and headquartered in Toronto, Ontario, Canada, Dream Payments previewed its Dream Mobile Point of Sale (mPOS) solution at its Finovate debut at FinovateSpring 2015. The company has total capital of $6 million courtesy of a fundraising in March.

Finovate Alumni News

On Finovate.com

  • “Roostify Garners $500,000 in Funding from Wells Fargo Accelerator”
  • “Dream Payments Launches its EMV mPOS System in Canada”

Around the web

  • Digital Insight and CUneXus team up to bring digital lending technology to Digital Insight’s financial institution clients.
  • Thomson Reuters unveils its new desktop platform, grouping all FX transaction venues into one single point of access.
  • NBT Bank to deploy Sales Enablement from Fiserv, a mobile messaging solution for wealth managers.
  • PaySwag and PayPal are among the companies highlighted in Inc.’s look back at Money20/20.
  • Entrepreneur.com features Vouch, a social network for credit.
  • StartupSmart profiles document-capture specialist, Shoeboxed.
  • Persistent Systems designs and implements online communities for cloud-managed wi-fi solution provider, AirTight Networks.
  • Trulioo Selected as Runner-up for Startup Canada Award for Innovation.
  • Orasi Software signs partnership agreement with Kony Solutions.

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.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: Dream Payments Solves Your Payment-acceptance Nightmare”
  • “Bill.com Unveils its iOS App for Small Business Owners”
  • “Malauzai Software Raises $11 Million in Venture Funding”

Around the web

  • Bloomberg: Barclays’s Michael Rake to Become WorldPay Chairman in September. See WorldPay at FinDEVr this October.
  • PaySimple introduces BookSimple, its cloud-based scheduling software.
  • Check Point partners with Vmware partner to bolster security in data centers.
  • Boston Business Journal: peerTransfer to open office in Shanghai, China, this year.
  • Bank Innovation reviews Narrative Science and its plans to enter the robot-advisor market.
  • Let’s Talk Payments interviews Ron Suber, Prosper President.
  • Credit Union Times features Rippleshot CEO and co-founder Canh Tran in its column on fraud detection for CUs.
  • Sang Lee, CEO of DarcMatter, quoted in RIA Biz column on robo-advisors.
  • PYMTNs.com profiles Kreditech as the company pursues Series C investment.
  • Belvoir FCU launches Belvoir Buck$ loyalty program courtesy of partnership with Larky.

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: Dream Payments Solves Your Payment-acceptance Nightmare

Finovate Debuts: Dream Payments Solves Your Payment-acceptance Nightmare

DreamPaymentsHomepage

Dream Payments works with banks and merchant acquirers to help businesses process payments and track operations. Its specialized mobile point-of-sale (mPOS) terminal, combined with a free mobile app, enables merchants to accept cash, credit, or debit card payments. This, coupled with Dream Payments’ sales insights and analytics, offers an end-to-end solution that is magstripe, EMV, and NFC compatible.

PaymentMethods

Merchant acquirers and banks can guard against disintermediation from alternative payment platform providers by offering the Dream Payments mPOS on a white-labeled basis.

Company facts:

  • 20+ employees
  • Raised $6 million in seed funding
  • Based in Toronto, Canada
  • Founded in 2014

The payment experience

ChargeMobileAppPaymentMethodUsing the mobile app, the merchant selects the item the customer would like to purchase, or manually enters the amount to charge. After entering the quantity and payment method (cash, debit, or credit), the merchant selects pay.

Once the device is authenticated and the transaction is validated, the customer receives a digital receipt via email, SMS, or a hard copy from a bluetooth printer.

Because of the upcoming liability shift, Dream Payments offers an EMV option. While EMV-compliant POS terminals typically cost $250 to $1,000, the Dream Payments hardware costs $50 for the device and comes with a free mobile app that works on multiple devices.

DreamPaymentsApplePayDream Payments works with NFC payments such as ApplePay

Merchant dashboard capabilitiesMerchantPortal

The Merchant Dashboard for business clients enables them to view their transaction history, reissue receipts, and process returns. Similar to the mPOS, banks and merchant acquirers can tailor this administrative view to match their brand.

The dashboard serves as a toolbox for merchants to manage and track sales, view deposits, as well as adjust POS settings. They can, for example, add and adjust user permissions, create and review sales reports, and manage customer receipts.

For banks and merchant acquirers

OpsDashboardUsing the Operation Portal, banks service multiple merchant client accounts. The portal provides a tier 1 and tier 2 support tool. It offers a high-level view of all merchants and their basic profile information, along with a complete list of each merchant’s transactions.

The Operation Portal also enables banks to activate, deactivate, and manage the merchants’ EMV card readers.

 

Dream Payments debuted at FinovateSpring 2015 in San Jose.

 

Celebrate Canada Day with Our Alums from the Great White North

Celebrate Canada Day with Our Alums from the Great White North

CanadaDay_cupcakes

July 1st is Canada Day, the day Canadians from Nova Scotia to British Columbia and all the provinces in between celebrate the day the country we know as “Canada” was officially formed as a single nation within the British Empire.

So if you’ve got room in your schedule for one more Canada Day Celebration, then please join us in spending a little time celebrating with a score of Finovate alums that are driving fintech innovation in and out of “the Great White North.”

And a special Canada Day shout-out to Finovate partner, the Canadian Trade Commissioner Service, which supports Canadian startups through mentorship and access to U.S. partners and investors.

Dream Payments Debuts its Future-proofed mPOS Solution

Dream Payments Debuts its Future-proofed mPOS Solution

This post is part of our live coverage of FinovateSpring 2015.

DreamPayments_logo_FS15Dream Payments debuts its mobile point-of-sale solution:

Dream’s cloud-based payment platform combined with its mobile point-of-sale device allows merchants to accept credit and debit cards, access rich analytics and reports, and provide digital receipts to customers. Dream’s solutions are secure, EMV compliant, and accept Contactless and CHIP payment cards. The solution includes a free mobile app, payment terminal, and comprehensive web-based merchant portal enabling merchants to view their account profile and all transactions and manage settlements and debits. The mobile point-of-sale solution easily integrates with third-party applications extending the breadth and depth of the solution and leveraging existing technology investments.

Presenters: COO Anant Tailor and Christian Ali, VP of business development

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Product Launch: H1 2015

Metrics: 20+ employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Toronto, Ontario, Canada
Founded: June 2014
Website: dreampayments.com
Twitter: @dreampayments

FinovateSpring 2015 Sneak Peek: Part 4

FinovateSpring 2015 Sneak Peek: Part 4

FS2013crowdshot

FinovateSpring is less than one month away. Our annual spring conference returns to the City National Civic building near the campus of San Jose State University for a first look at the financial technologies of 2015. If you’ve been thinking about joining us the 12/13 of March for two days of live demos and professional networking, now is a great time to pick up your ticket and save your spot.

Today’s Sneak Peek preview brings you another handful of companies that will be presenting their technologies live on stage at FinovateSpring 2015 next month. In this edition, we introduce you to:

Check out the previous three installments of our Sneak Peek series below. And stayed tuned for Sneak Peek #5 next week.


CurrencyCloud_logo_FS15Transform the way your business makes international payments with Currency Cloud’s Payment Engine featuring an enhanced API for maximum efficiency.

Features:

  • Reach new customers
  • Benefit from real-time wholesale rates
  • Leverage a fast, secure payment network

Why it’s great
Powering global payments—Currency Cloud has built a technology-based payment engine that simplifies international payments and offers an easy integration for businesses of all sizes.

Presenters

CurrencyCloud_TLatham_crop2Todd Latham, Vice President of Marketing

Latham has extensive experience in the technology and financial service sectors, and he is fascinated at how technology is transforming people’s lives for the better.
LinkedIn

 

CurrencyCloud_RNienaber_cropRachel Nienaber, Vice President of Engineering

Nienaber is fluent in Ruby and Java, carrying 10+ years of experience in bespoke development projects. She is also responsible for ongoing technology development.
LinkedIn

 


DreamPayments_logo_FS15Accepting payments just got easier. Introducing Dream Payments, a next-generation mobile payment platform accepting all forms of payment.

Features:

  • Sell anywhere; accept all payments
  • Save time; grow your business
  • Create customer experiences
  • Safe and secure transactions

Why it’s great
Sell anywhere, anytime, in any format. Dream Payments enables merchants to accept payments anywhere, anytime, using mobile commerce solutions. Dream Payments are the future of mobile commerce.

Presenters

DreamPayments_CAli_cropChristian Ali, Vice President, Business Development

Ali has been a trusted advisor to the North American payments industry for nearly 20 years and currently serves as vice president of business development at Dream Payments.
LinkedIn

 

DreamPayments_ATailor_cropAnant Tailor, COO

Tailor is the chief operating officer at Dream Payments where he is responsible for the daily operations of the company including product management; go to market strategy; and all customer engagements.
LinkedIn

 


HipPocket_logo_FS15Hip Pocket engages your mobile and website visitors by using social influence and personalized consultation to generate new, qualified mortgage leads.

Features:

  • Unique peer-group comparisons
  • Real-time integration and personalization savings estimates
  • Results and call-to-action are customized to each user’s situation

Why it’s great
Hip Pocket allows your institution to provide an engaging, intuitive user experience that marries the emotional and logical decision-making processes.

Presenters

HipPocket_MZmarzly_cropMark Zmarzly, Founder, CEO

Zmarzly is a passionate innovator and thought-leader in the financial industry. He has delivered multiple TEDx talks and has presented for the ABA; BAI; and for JD Power & Associates.
LinkedIn

 

HipPocket_TCramer_cropTodd Cramer, Head of Digital Experience and Design

Cramer holds an MBA and has more than five years of experience in branding, user experience and eCommerce for a $5B bank enterprise.
LinkedIn

 


Inetco_logoThe INETCO analytics software application provides financial institutions with the game-changing knowledge of where, when, and how customers interact with their channels.

Features:

  • View transaction data on-demand, across all banking channels
  • Reduce failed customer interactions and resolve issues faster
  • Adopt data-driven strategies that improve customer engagement

Why it’s great
INETCO Analytics will accelerate your omnichannel strategy with powerful, on-demand insights into customer behavior.

Presenters

INETCO_MBorbas_cropMarc Borbas, VP Product Marketing

With 12+ years of experience working with financial technology startups, Borbas drives the product strategy for INETCO’s real-time transaction-monitoring and customer-analytics solutions.
LinkedIn

 


LoanNow_logoAs a responsible lender, LoanNow’s motivational lending platform helps deep subprime borrowers secure affordable credit, then actively reduce APR within the loan term.

Features:

  • Repayment-motivation algorithm incentivizes good financial behavior
  • Active reduction in APR during loan for positive behaviors
  • LoanNow to debut new features to lower the cost of credit

Why it’s great
LoanNow allows people to be more than a credit score and to actively reduce their cost of credit through positive financial behavior and loan management.

Presenters

LoanNow_HLangenberg_cropHarry Langenberg, CEO, Co-founder

Since graduating from the Wharton Business School, Langenberg has been a pioneer in bringing innovation to consumer finance. He’s founded Optima Tax Relief, SuperMoney, and Debtmerica.
LinkedIn

 

LoanNow_MLulic_cropMiron Lulic, President, COO, Co-Founder

Lulic has spent his entire career at high-growth technology-driven companies. At LoanNow, Lulic leads product management, design, and marketing while also overseeing all other operations.
LinkedIn

 

LoanNow_ZPeracha_cropZahur Peracha, CTO

After more than a decade of building and launching new products for Silicon Valley startups and Amazon.com, Zahur now leads all technology at LoanNow.
LinkedIn

 


WealthForge_logo_FS15_200pxWealthForge has launched the Invest Button, transforming the way private capital is raised by making the entire process faster, cheaper, and more compliant than ever before.

Features:

  • Simple, turnkey technology
  • Straight-through processing
  • Reduced transaction risk

Why it’s great
The WealthForge solution makes private placement transactions more efficient. The entire process has been reduced from months to weeks, costing nickels on the dollar, from risky to fully compliant.

Presenters

Wealthforge_AWeissman_cropArthur Weissman, Head of Sales and Marketing

Weissman is an industry expert in helping to lead the move of private investing from offline to online. Weissman heads sales and marketing helping to make raising private capital faster and more efficient.
LinkedIn

 

WealthForge_MDellorso_cropMat Dellorso, Co-Founder, President

Dellorso is a leading innovator in venture finance and has worked directly with FINRA and the SEC to establish regulations for online private investing.
LinkedIn

 


Yodlee_logo_FS15A global financial technology leader, Yodlee’s cloud-based platform powers dynamic innovation and solutions for digital financial services.

Features:

  • Provides actionable financial advice
  • Makes personalized recommendations
  • Leverages Yodlee’s advanced data network

Why it’s great
Yodlee capitalizes on its unique data network and key data-driven insights to fundamentally change the digital banking experience.

Presenters

Yodlee_JBird_cropJohn Bird, VP, Product Marketing and Alliances

Bird, as VP of product marketing and alliances at Yodlee, is responsible for the marketing of the Yodlee platform to financial institutions and startup financial technology companies.
LinkedIn

 

Yodlee_KGibson_cropKaty Gibson, VP Product Applications

Gibson, as VP of product applications at Yodlee, is responsible for the creation and execution of product strategy for Yodlee’s suite of financial management applications.
LinkedIn

Finovate Alumni News

On Finovate

  • Dream Payments Raises $6 Million in Funding for mPOS Technology
  • Finovate Debuts: Asseco SEE Brings Real-Time Big Data to Processing to Multichannel Banking
  • EZBOB Raises 3 Million in Private Equity Investment
  • Finovate Debuts: Telenor Banka’s Synergy of Telco and Banking Brings Financial Innovation to Serbia
  • CAN Capital Locks in $650 Million Credit Facility

Around the web

  • Striata acquires Mass Transmit for undisclosed amount.
  • PayPal closes acquisition of Paydiant.
  • Blooom participates in InvestMidwest Venture Capital Forum.
  • ayondo wins “Best Social Trading Program” honors at ADVFN International Financial Awards 2015.
  • Francepertise reviews TransferWise.
  • BioCatch and RippleShot earn 2015 METAwards from the Merchant Risk Council.
  • Tradier sees 35 million+ API calls in March. That’s 47k transactions per hour.

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.

 

Dream Payments Raises $6 Million in Funding for mPOS Technology

Dream Payments Raises $6 Million in Funding for mPOS Technology

DreamPaymentsHomepage

Toronto-based Dream Payments pulled in its first round of funding late last month. The $6 million comes from Canada’s early stage fintech venture capital and private equity firms, as well as institutional investors Blue Sky Capital, Real Ventures, and Rouge River Capital.

With Dream Payments, merchants use the Dream mobile Point of Sale (mPOS) terminal that works with iOS and Android smartphones and tablets. It can also integrate with a retailer’s traditional POS terminal. The startup aims to help merchants adapt to new payment acceptance methods, such as EMV and Apple Pay, and accommodates magstripe debit and credit card payments.

In addition to the payments capability, the company offers merchants a dashboard with sales and inventory metrics, customer insights, and business analytics. The solution is available for both merchants and merchant acquirers.

Dream Payments CEO, Brent Ho-Young stated that the startup will use the funding to launch the business and roll out its solutions to merchants across North America.

The startup also announced it will open its SDK to third-party developers.

Dream Payments will be demoing live on the FinovateSpring stage in San Jose on 12/13 May 2015. The early bird ticket deadline is this Friday, so be sure to pick up your ticket before then.