OAKLAND, Calif., May 17, 2019 /PRNewswire/ -- LISNR today announces that they were named to CNBC's Disruptor 50 list—2019 edition. In their seventh year of picking out the most impactful venture-backed companies, CNBC looked out for forward-thinking startups that have made a massive impact in their category and boast impressive valuations. In aggregate, this roundup of companies, including Grab, Robinhood and Stripe, has raised over $46 billion in venture capital, with valuation topping $266 billion.
LISNR, #41, was chosen because of its innovation in mobile payments and starts a list of company announcements driving ultrasonic payments across the customer journey for mobile devices. LISNR's proprietary data over audio solutions have been fueling connections across mobility, ticketing and IOT since 2012. In 2017, LISNR started to significantly enhance their technology offering to capture mobile payment opportunities. LISNR now powers payments for merchants enabling secure one-to-one and one-to-many transactions—offering frictionless checkout experiences from all mobile devices.
Current acceleration in mobile payments is being driven by retailers with over 62% of mobile wallet transactions attributed to retailer branded wallets. These wallets use QR codes, which introduces unwanted friction and transaction limitations or higher fee structures, due to it being considered an ecommerce transaction.
LISNR's ultrasonic technology allows retailers to bypass this friction and create seamless and secure payment scenarios with better fee structures. LISNR also increases the throughput capacity of checkout experiences with the ability to detect and transact at a distance. With NFC transactions accounting for only 38% of total mobile transactions, LISNR is poised to standardize its payment method as a card present solution to capitalize on the fastest growing segment in mobile payment—retailer wallets.
The implications of LISNR in mobile payments is tremendous as a card present solution that lives outside of the terminal infrastructure and in turn can allow any device to transact. LISNR's opportunity spans across retail, mobility, transportation and ticketing. Joining this prestigious list of CNBC Disruptor 50 companies in 2019 is LISNR's fourth inclusion in the past five years and the second consecutive year.
"This Disruptor list continues to showcase the power of using ultrasonic solutions to pay in more ways and places than ever before. We're challenging the world of merchants and financial service providers to test and compare LISNR to other methods for your mobile wallets. We offer a superior product. As the flexibility of payment scenarios continue to grow, LISNR is positioned to be an integral component," says Eric Allen, CEO of LISNR.
May has been an action packed month for the LISNR team, as just last week they announced their participation in the METRO Target Retail Accelerator, Certified by Techstars. And last month LISNR was featured as a company driving the future of business by the CNBC team as part of their 30th-anniversary celebration. LISNR's inclusion in the Disruptor 50 is a continuation of their recognition as a leading company in the connectivity space that is moving the needle in financial services and beyond.
Learn more about what LISNR brings to the Disruptor 50 list here on CNBC.
LISNR® powers transactions across the customer journey for retailers and restaurants globally with the most advanced Ultrasonic Data Platform. Today, companies like Jaguar Land Rover, Ticketmaster, and Visa use this solution to create secure & frictionless moments for consumers around the world. Founded in 2012, LISNR is located in Oakland, CA and Cincinnati, OH. Major investors include Intel, Jump Capital, Mercury Fund, R/GA, and Synchrony Financial. To learn more about the LISNR technology visit: https://LISNR.com or email [email protected].