Fintech is again reigning supreme in Canada as a Montreal-based startup has unveiled a massive partnership with one of the tech world’s biggest companies.
Mobeewave as announced that they have signed on as a global partner to Samsung. The partnership will allow Mobeewave to provide its in-person contactless payment acceptance solution on a range of Samsung devices. The Montreal-startup’s technology allows a person to turn their phone into a payment terminal and accept mobile wallet or contactless transactions easily.
“We’re delighted to partner with a true innovator like Samsung,” said Maxime de Nanclas, COO and co-founder of Mobeewave. “Providing our patented contactless payment acceptance solution through Samsung’s flagship devices will enable merchants in markets around the world to enter the digital economy.”
The agreement came into effect at the beginning of 2018 and will be usable on Samsung flagship devices (Samsung Galaxy S7, S7 edge, S8, S8+ and Note8) in target markets around the world. The service is available to banks and mobile network providers and Mobeewave currently operates in Australia, Canada, India and Poland.
“At Samsung, we are focused on delivering customer value and enabling digital transformation. We achieve this by fostering a solution partner ecosystem with innovative and industry-leading partners,” said Sean Kae, EVP of Global B2B Service Group, mobile communication at Samsung Electronics. “Through our partnership with Mobeewave, we look forward to providing our joint customers with a more simple and convenient mobile POS experience.”
Mobeewave allows for anyone to accept payment on their phone without the need for physical hardware. Security is a hugely important issue for Mobeewave, so they emphasize the encryption of personal information and make sure no data is saved on the physical device.
Beyond a partnership with a company like Samsung, another way for Mobeewave to spread their tech is to offer it as a white-label solution to financial institutions and network providers. This means those banks or networks can give their customers a branded and inexpensive alternative to traditional POS and mPOS systems in addition to reaching previously inaccessible SMBs.
Mobeewave raised a $6.5 million Series A back in 2015 to power their growth and expand into new markets.