Gane's enhanced real-time functionality moves the mobile payments industry forward, versus existing apps that fund payments over two to three business days and only allow users to apply those funds within the app or by moving them to a bank account.
"By combining the most important mobile payment services into one experience, Gane is the first app that is truly responsive to the needs of consumers," said Ted Fifelski, president and co-founder, SimplyTapp. "The slow pace of traditional banking doesn't fit in with the quick pace of life today. By bringing offers to consumers where they are – their smartphones – and facilitating real-time money transfers and offer sharing, we bridge the divide between their digital and physical worlds, improving the customer experience."
"SimplyTapp's technology and deep experience servicing some of the world's largest banks allows them to fill a tremendous gap in the consumer mobile payment market with Gane," said Vijay Doradla, Director at Verizon Ventures, a lead investor in SimplyTapp. "Gane is the first app that allows for instant access to funds, and chatbot-powered integration to allow social messaging platforms to further monetize their offerings."
Gane also helps retailers harness the power of online window shopping with offline purchasing. Retailers can create campaigns to reach targeted Gane users in both the Gane app and via the web and social media through a customized UVL (Universal Value Locator). Offers are redeemed automatically at the point of sale when users pay through Gane.
"Research from Forrester and the National Retail Federation1 show that 76 percent of US retailers plan to accept Apple Pay by year-end 2017," added Doug Yeager, co-founder and CEO, SimplyTapp. "We expect the uptake for Tap and Pay to continue, and Gane will allow consumers and merchants alike to take advantage of this trend."
Gane leverages technology invented by SimplyTapp and honed over the past four years. This technology, called host card emulation (HCE), allows businesses to accept card-emulated payments from Android smartphones. Card issuers can implement SimplyTapp's platform to access and manage card information on an encrypted server, bypassing the costs and negotiations that physical secure elements require while maintaining control of the customer relationship and experience.
The Gane app is currently available for download from the Google Play and Apple App Store and through the Gane website at https://gane.io/.
SimplyTapp Chief Executive Officer and Co-founder Doug Yeager is speaking at the Money 20/20 conference on the panel entitled "Tap and Go: The Current & Future State of In-Store Mobile Payments" on Tuesday, October 25 at 10:40 a.m. PDT. Yeager will be joined by SimplyTapp President and Co-founder Ted Fifelski to present "SimplyTapp Reimagines POS Transactions" Tuesday at 4:00 p.m. PDT. SimplyTapp is exhibiting at Money 20/20 booth 2128. Demonstrations of the Gane app will be available at the SimplyTapp booth and four complimentary vending lounges around the Venetian Las Vegas for the duration of the conference.
For more information about Money20/20, visit http://www.money2020.com
SimplyTapp enables issuers and developers to leverage mobile devices for proximity payments and other real-world transactions. SimplyTapp's technology powers payment functionality on Android devices for card-issuing banks and provides a simple and secure transaction environment for industries including retail, transit, ticketing and hospitality. To learn more, download The ABC's of HCE. An established player in financial services with deep relationships with top banks, SimplyTapp is well poised to facilitate easier banking for consumers. SimplyTapp's NFC-technology forms the backbone of this experience. SimplyTapp has raised more than $10 million in funding from Verizon Ventures, Texas Venture Labs, Lightspeed Venture Partners, Blue Sky Capital and Mozido. Learn more about SimplyTapp at https://simplytapp.com/.
Money20/20 is the largest global event enabling payments and financial services innovation for connected commerce at the intersection of mobile, retail, marketing services, data and technology. With 10,000+ attendees, including more than 1,000 CEOs, from over 3,000 companies and 75 countries, expected at its 2016 U.S. event, Money20/20 is critical to realizing the vision of disruptive ways in which consumers and businesses manage, spend and borrow money. Money20/20 will be held in Las Vegas, October 23-26, 2016.
1 Source: National Retail Federation, The State of Retail Payments 2016, http://www.nfcworld.com/2016/08/16/346700/three-quarters-us-retailers-plan-accept-apple-pay-2018/
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