Mobeam, the unique global leader in mobile barcode beaming technology, today announced it has completed more than 40 million retail point-of-sale (POS) transactions, a milestone that showcases the growing demand for true mobile wallets that are uniquely able to process gift cards, loyalty cards, coupons and other barcoded data.
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The company reported it is now processing more than 2 million transactions per month via apps from multiple retailers and grocery stores, as well as Mobeam's own popular Beep'nGo app. The transactions are processed throughout the U.S., Asia and Europe.
Mobeam's patented light-based beaming technology overcomes historical technical barriers and enables POS laser scanners to read barcodes on Android mobile devices. Popular and emerging "mobile payment" apps rely on NFC or other technologies that communicate with credit card payment terminals, but not with scanners. Mobeam enables true mobile wallets and not just NFC-based card payment substitutes, meaning payment apps can now carry loyalty cards, membership cards, gift cards, tickets, vouchers and coupons, providing them with universal POS access at retailers. Mobeam technology easily integrates with all existing mobile payment apps, thus completing their role as a comprehensive mobile wallet.
Mobeam currently operates on more than 375 million Samsung phones, and the company is in talks with other manufacturers to expand the technology to other market leading devices.
"Mobeam is a very unique and powerful enabling technology that is enabling smartphones to serve as true mobile wallets," said Mobeam CEO George Garrick, adding, "We are seeing tremendous acceleration in the use of our technology, having grown from 25 million transactions to 40 million transactions in just the past few months."
Mr. Garrick explained that the growth in beaming of barcoded gift cards, loyalty cards and coupons is being driven by both retailers and consumers.
"We deliver consumer benefits by eliminating the shopper's need pay for purchases with a smartphone yet still carry around a pocket full of plastic cards and paper coupons to complete their retail transactions. Retailers and brands benefit from creating a more convenient shopping experience, as well as improved targeting of offers, faster and easier transaction clearing, and enhanced security that reduces opportunities for fraud."
In addition to mobile wallet applications for retail, multiple other industry segments are evaluating concepts for transmitting barcode-based content, including travel, transportation, loyalty, manufacturing and health care. Mobeam recently made its mobile beaming technology SDK available to developers, enabling them to explore these opportunities and create their own android-based applications and concepts utilizing barcodes or other applications of beaming.
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