This post is part of our live coverage of FinovateFall 2013.
demonstrated how it can save merchants on interchange fees:
“Our SDK for iOS and Android is an ingredient that runs inside other mCommerce applications. It links users’ bank accounts just by taking a picture of a blank check, then can store that information to process low-cost eChecks as a method of payment, saving merchants up to 80% off the cost of credit card interchange fees. It is being leveraged in pure mCommerce applications as a method to reload stored value accounts, and in brick and mortar retail apps where it also improves visibility into customer behavior for improved marketing ROI.”
Product Launch: January 2013
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Pasadena, CA
Founded: August 2011
Presenting Ted Tekippe (CEO) and Avi Lichtschein (VP Business Development)
The full demo video will be available at finovate.com in mid-September.