This post is part of our live coverage of FinovateSpring 2014.
demonstrated how its contacless mobile payment technology, CopSonic
, works for both P2P payments to authenticate users without a password:
“CopSonic is the first universal contactless mobile payment system powered by our unique technology. It is based on sonic communication transiting through the devices’ speakers and microphones. Therefore, our technology is compatible with 100% of existing phones and smartphones, unlike NFC technologies. Several patents have been filed with regard to the security of the transaction.
Our technology allows peer-to-peer transactions between feature phones an
d smartphones but also enables online passwordless authentication turning the devices into security dongles.
We developed an SDK that allows third-party companies to integrate the modules and, therefore, create a business model based on transaction fees or licenses.”
Presenting: Emmanuel Ruiz (CEO & Head of Innovation) and Brian Roeten (Senior Project Manager)
Product Launch: September 2013
Metrics: €210,000 in capital, 11 employees in France, 120 engineers around the world
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed
HQ: Montauban 82000, France
Founded: April 1989