SANTA MONICA, Calif., June 25, 2013 /PRNewswire/ -- DoubleBeam, a mobile payments infrastructure company, won the Startup Showcase Competition Friday at Silicon Beach Fest, Southern California's largest tech startup event. Over 40 companies were selected to give 3-minute pitches followed up by Q&A with a panel of judges including local VCs and successful entrepreneurs. Semi-final rounds were conducted Thursday, and 10 finalists were selected to return for the final round on Friday. Startups were judged on their presentation, level of innovation and differentiation in the marketplace, and overall prospects for success.
DoubleBeam's CEO Ted Tekippe demonstrated how their mobile technology runs inside other iPhone and Android mobile apps, helping merchants sign up users quickly and save money on the cost of payments. By leveraging electronic checks via the Check21 system, DoubleBeam is able to save up to 80% off credit card interchange fees, which cost merchants over $50 Billion every year in the US alone. DoubleBeam's SDK can onboard users just by taking a picture of a blank check and photo ID. DoubleBeam's solutions help retailers, stored value companies, mobile commerce and social commerce providers.
Ted Tekippe said, "I am incredibly excited to be voted Startup Showcase Winner and very proud of the team at DoubleBeam who work hard every day to deliver a great product to mCommerce providers. My thanks to the judges for their recognition, and kudos to the many other great companies that participated."
In addition to recognition, DoubleBeam will take home a $5,000 check as the Grand Prize. Startup Showcase was held at ROC in Santa Monica and hosted by Axis PR & Entertainment, with the Finals Co-Hosted by Sarah Austin, CEO & Founder of Pop17. Other notable finalists included dealflix, Vow to be Chic, GonnaBe, and fellow Pasadena company Punchcard.
DoubleBeam provides white-labeled mobile retailing solutions for retailers, including payment, data capture, and targeted marketing services. DoubleBeam allows retailers to see huge savings on transaction fees, increased marketing ROI and enriched customer engagement. Additionally, because DoubleBeam operates in a secure cloud-based environment, the solution is easily integrated into existing POS systems. DoubleBeam is located in Pasadena, California. Visit www.doublebeam.com for more information.