Worldline e-Payments Challenges Looks for Tomorrow’s Mobile Payments Solutions

December 2, 2019         By: Steven Anderson

Mobile payments solutions don’t spring up, fully-formed, from the foreheads of corporations. No, they’re the results of extensive development, the blood, sweat and tears process that brings us powerful new options. Sometimes they’re generated at hackathons or in dorm rooms, but one event our friends at Worldline tipped us off about had a hand in development too. It’s the Worldline e-Payments Challenge, and it’s already produced a slate of winners that may be some of our next great advances in the field.

The e-Payments Challenge brings a range of interested parties, including Worldline customers, Worldline’s own experts, and a range of financial technology (fintech) startups to produce some of the biggest new options around over the course of the three day event.

Two big solutions emerged from the fray, and each represents a significant step forward in the payments field. The Grand Prix award was OneVisage, a Swiss product geared toward addressing issues of payment fraud. Since security has long been one of the biggest issues in mobile payments, OneVisage’s efforts should prove helpful and widely accepted.

It wasn’t the only big player in the game, however, as Cloudasset—a Finnish startup—took home a special prize for its P3 platform. P3 is a completely digital system that can issue in-store instant cards from within an app, which reduces the credit card issuance concept down to a thing of minutes that can be accomplished wholly in-house. Cloudasset also offered a “try now pay later” setup for a fashion retailer that allowed more shoppers to come in contact with the retailer’s product line.

Programs like these tend to yield at least some tangible rewards when it comes to product development. Sure, very few straight-up household names have emerged from hackathons or events like these, but they often provide at least some unusual insight into product development that the sponsoring companies can put to work. The developments made at these events can pave the way for future development and give even major companies a leg up with new perspective.

Worldline’s event not only produced some winners, but it also likely produced a better chance at a win for Worldline itself. That’s a welcome development no matter how you slice it.