PayKey

paymentssoftware/whitelabel/apis-paymentsp2p payments

FOUNDING YEAR: 2015
LOCATION: Israel
Last Update: 19/01/2021

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About

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.

Watch

How PayKey has Flipped the Script on Social Banking Solutions

MEDICI Analysis

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

The company follows transaction-based revenue model.

MAIN CLIENTS

Mastercard

Westpac

BBVA

Nationwide

Garanti

Santander

Sparebank

UOB

Davivienda

Intesa Sanpaolo

Leumi

PRIMARY 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.

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.

Traction

COMPANY TYPE:

For Profit

REVENUE COMMENT:

The company generates approx revenue of 90 k(2017).

People

FOUNDERS

Offer Markovich

BOARD MEMBERS AND ADVISORS

Daniel Peled

Offer Markovich

NUMBER OF EMPLOYEES

11-50

INVESTORS:

CommerzVentures GmbH

Digital Leaders Ventures

e.ventures

Gaby Salem

Magma Venture Partners

Mastercard

MasterCard Start Path

Microsoft Accelerator Tel Aviv

Mindset Ventures

Santander InnoVentures

SCB 10X

SixThirty

CommerzVentures

Digital Ventures

Fintech71

MizMaa Ventures

SBI Group

The Finlab

KEY EMPLOYEES:

Daniel Peled (CEO); Offer Markovich (CTO); Omer Paz (COO); Guy Talmi (CMO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

5

TOTAL FUNDING

$26.4 M

DATE OF LAST FUNDING

Nov 2017

IPO STATUS

Private

ESTIMETED REVENUE RANGE

$1M to $10M

SEED & PRIOR FUNDING

$400 K

SEED CLOSED ON

Jan 2015

FUNDING SERIES

SERIES A  · $6 M  · Nov 2016

SERIES B  · $10 M  · Jun 2017

OTHERS  · $10 M · Nov 2017

LISTED

NO

COMMENT

An undisclosed non equity fund raised(June 2016).

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

2,555

AVERAGE VISITS (6 MONTHS)

1,629.13

MONTHLY VISITS GROWTH

34.79%

VISIT DURATION

182

VISIT DURATION GROWTH

97.16%

PAGE VIEWS VISIT

2.55

PAGE VIEWS VISIT GROWTH

45.56%

BOUNCE RATE

60.16%

BOUNCE RATE GROWTH

-17.64%

GLOBAL TRAFFIC RANK

3,425,781

MONTHLY RANK CHANGE

-3,145,788

MONTHLY RANK GROWTH

-47.87%

Innovation Programs

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PayKey

About

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.

Watch

How PayKey has Flipped the Script on Social Banking Solutions

Focus

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

NUMBER OF EMPLOYEES

11-50

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO