Business Showcase : PayKey

By @SimonCocking

Describe the company – the elevator pitch …

PayKey is a Social Payments Solution enabling banks to provide their users with peer-to-peer payment options just when they are needed most – when they are engaged in social interactions. 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

How are you different?

PayKey is the only solution that bridges the gap between social and banking. Other P2P transfer solutions require the on-boarding to a dedicated app thus provide less initiative and less contextual user experience.

Why will the company / product do well?

Pay key addresses a real need of current banking which is to bring innovation and services which cater to the unique life style and habits of the Millennials. In addition, our solution is easy and quick to integrate into the bank’s systems. Typical integration takes only 30 days.

Where are you based?

Tel Aviv, Israel

When was the company launched?

2014

What have been your biggest wins to date?

Working with leading global banks to test and deploy our solution including Santander in several countries, Nationwide in the UK, SpareBank 1 in Norway, ING in the Netherlands and beyond, Privredna banka Zagreb, member of Intesa Sanpaolo Group in Croatia and Davivienda in Colombia.

What type of people (market segment) are you trying to attract to your product?

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, while being disrupted by new financial technologies, are constantly searching for innovative solutions that will appeal to the lifestyle and needs of the Millennials.

Tell us about your team?

We are 20 dedicated and enthusiastic high tech professionals. We have a great mix of technology and business people.

What are you long term plans for your product / company?

Working with the largest banks, we are looking into developing additional features and capabilities that could facilitate their mobile offering.

How do people get in touch with you?

We develop direct relationships with the innovation teams of banks and other financial institutions.

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at Simon@IrishTechNews.ie or on Twitter: @SimonCocking