Describe the company – the elevator pitch …
Auka is a leading player within mobile payments in Scandinavia, a region with an unparallelled 65% population-wide adoption rate for mobile payments. Auka was also a pioneer as the first player to launch a mobile payments app in the Norwegian market in 2014. Our history and track record, first as a B2C company addressing the market ourselves, and then as a B2B tech provider for 17 banks in Scandinavia, has granted us unique insight into what works (and what fails) when launching mobile payments propositions.
How are you different?
We are different because we were first mobile payments app in the market and because we launched mobile payments in the market as a VC funded start up. We have learnt what works and what doesn’t because we have been on the ground testing, failing and ultimately winning with our solution.
We are also the first company in the world to run financial transactions 100 % in Google Cloud.
— AukaPay (@AukaPay) April 7, 2017
Why will the company / product do well?
It’s already doing well and pushing 1 million downloads in Norway. Auka will do well because our methodology is applicable in other countries such as Ireland.
The perks of our technology is that it’s easy to implement on top of legacy IT but first and foremost because it’s a product that solves actual problems on the consumer side- it makes payments frictionless, fast and fun.
Where are you based?
We’re based in Oslo with employees from eight different countries.
— AukaPay (@AukaPay) March 16, 2017
When was the company launched?
It was launched in 2010
What have been your biggest wins to date?
Launching the first mobile payments service as a start up company
When we sold the rights to our mCASH brand to Norway’s second largest banking group and decided to white label our technology.
What type of people (market segment) are you trying to attract to your product?
Brave and smart retail banks that understand that if they don’t create sticky customer centric products Facebook and others will eat their lunch.
Tell us about your team?
We’re a group of 20 young people, mostly engineers and business advisors
— AukaPay (@AukaPay) April 8, 2017
What are you long term plans for your product / company?
To provide a number of banks with our technology and help them survive and prosper post PSD2.
We will also keep developing new technology that challenges the dominating payment structures.
What are your favourite tech gadgets?
Our payments app that handles real time P2P, in app purchases, marketing possibilities and that connects to any online store or point of sale.
Anything else you’d like to add / we should have asked?
We believe Ireland should be able to launch a service as successful as any of the Scandinavian schemes and we would like to challenge every retail bank that want to dominate their home market to discuss their mobile payments initiatives with us.
How do people get in touch with you?
Through contact info on our webpage, LinkedIn, Facebook or Twitter