PayKey

PayKey

Payments | Software/Whitelabel/APIs (Payments) | P2P Payments
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  • FOUNDING YEAR: 2015
    LOCATION:
    Israel
    REGION:
    Last Update:
    27 Jun, 2019
    Global presence:
    London, San Francisco

Description

PayKey is a mobile app that enables users to make payments to their friends through the social media channels. The app can be linked to a bank account, and then the user can transfer money to his/her contact lists on social media directly from the keyboard.
PayKey is a mobile app that enables users to make payments to their friends through the social media channels. The app can be linked to a bank account, and then the user can transfer money to his/her contact lists on social media directly from the keyboard.

FOCUS


PRODUCTS & SERVICES:
Paykey: It is an online payment technology platform helps to bridge the gap between bank users and social networks. It enables bank customers to make payments on all social networks and messaging apps, such as facebook messenger, WhatsApp and twitter. It integrates with the mobile banking application, enabling users to initiate and complete the transaction without having to leave the social interaction and switch to a different app. This solution integrates on the API level and retains the bank authentication method without compromising the security level.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Mastercard, Westpac, BBVA, Nationwide, Garanti, Santander, Sparebank, UOB, Davivienda, Intesa Sanpaolo, Leumi
COMMENT
PayKey’s technology helps to bridge the gap between bank users and social networks. It enables bank customers to seamlessly make instant and secure payments on all social networks and messaging apps, such as facebook messenger, WhatsApp and twitter.
PRODUCTS & SERVICES:
PayKey enables banks to provide their users with peer-to-peer payment options just when they are needed most - when they are engaged in social interactions. Initiating a payment transaction right from the social app keeps the payment experience intuitive, contextual and simple without needing to share the details of the recipient's bank account. Users enjoy instantaneous money transfer capabilities while chatting with friends and family members on any social messaging platform such as Facebook’s Messenger, WhatsApp and Twitter. At the core of PayKey's solution is the patent pending Mobile Payment Keyboard™. This unique keyboard seamlessly integrates with the mobile banking application, enabling users to initiate and complete the transaction without having to leave the social interaction and switch to a different app. PayKey's white label solution easily integrates on the API level and retains the bank authentication method without compromising the security level.
TOP PROBLEM SOLVED:
Millennials spend most of their time online and in Social Networks. However, today, in order to make a P2P transfer to a friend or a family member they need to leave the social conversation and use their bank application or a dedicated electronic wallet solution. Banks are constantly searching for innovative solutions that will appeal to the lifestyle and needs of the Millennials.
PRODUCT DEVELOPMENT STAGE
MARKET TRIAL

PEOPLE


FOUNDERS:
Daniel Peled, Offer Markovich
Board Members and Advisors:
Daniel Peled, Offer Markovich
INVESTORS:
CommerzVentures GmbH, Digital Leaders Ventures, e.ventures, Gaby Salem, Magma Venture Partners, MasterCard, Mastercard Start Path, Microsoft Accelerator Tel Aviv, Santander InnoVentures
KEY EMPLOYEES:
Daniel Peled (CEO); Offer Markovich (CTO); Omer Paz (COO); Guy Talmi (CMO)
FOUNDERS:
Daniel Peled, Offer Markovich
NUMBER OF EMPLOYEES:
11-50
KEY EMPLOYEES:
CEO: Daniel Peled
CMO: Guy Talmi
COO: Omer Paz

TRACTION


REVENUE COMMENT:
Viewable by subscribers only

MOMENTUM


FUNDED:
YES
TOTAL FUNDING:
$6.4 Millions
DATE OF LAST FUNDING:
Nov 2016
SEED & PRIOR FUNDING:
$400 K
SEED CLOSED ON:
Jan 2015
FUNDING SERIES:
SERIES A
$6 Millions Closed: Nov 2016
LISTED:
NO
COMMENT:
An undisclosed non equity fund raised(June 2016).
LISTED:
Viewable by subscribers only

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