Company: Mobeam Inc.
Palo Alto, Calif.-based Mobeam Inc., a provider of mobile barcode beaming technology, has surpassed 40 million transactions, according to company sources. Mobeam's expanding family of mobile apps process more than 2 million transactions a month in the United States, Asia and Europe, which may reveal a growing demand for barcode scanning capabilities on mobile devices and customer-facing POSs, the company stated.
"Mobeam is a very unique and powerful enabling technology that is enabling smartphones to serve as true mobile wallets," said Mobeam President and Chief Executive Officer George Garrick. "We are seeing tremendous acceleration in the use of our technology, having grown from 25 million transactions to 40 million transactions in just the past few months."
Garrick maintains that consumers and retailers are driving demand for beaming barcoded gift cards, loyalty cards, coupons and assorted data. He expects mobile wallet schemes to leverage barcoded data to support value-added transactions and commerce. The company's patented light-based beaming technology is simple to use and would complement many use cases, he added.
Mobeam emphasized that unlike other mobile wallet apps that rely on near field communication, it is not dependent on ancillary technologies to communicate with the POS. The scanning solution can be easily integrated with all existing mobile payment apps to enable POS laser scanners to read barcodes on mobile Android devices, according to the company. Designed to add capabilities to mobile wallets through universal POS access, Mobeam can enable mobile wallet providers to incorporate loyalty cards, membership cards, gift cards, tickets, vouchers and coupons into their mobile payment schemes.
Mobeam is also working with an array of vertical industries to leverage barcode-based technologies. Hospitality, transportation, manufacturers and healthcare companies are reportedly using the company's mobile beaming technology software development kit (SDK) to create new applications and use cases for barcode beaming.
Mobeam noted that its mobile enabling technology allows laser scanners to read 1D barcodes from mobile devices, using patented technology that sends pulses of light or audio pulses to the sensor in scanners. These pulses mimick the black-and-white sequencing of standard barcodes. Mobeam also pointed out that it enables retailers, consumer product goods and other companies to increase revenues while uniquely connecting with consumers. The company received a Red Herring Top 100 award in the mobile industry in 2015.
Mobeam representatives stated the app has been downloaded approximately 375 million times by Samsung phone users around the world, representing a growth rate of about 10 percent per year. The company is in discussions with other device manufacturers in an effort to expand its global hardware footprint.
Garrick credits the app's appeal to its ability to replace plastic payment cards and paper coupons. Consumers only need to use their smartphones to complete their retail transactions, he stated. Retailers and brands also benefit from the added convenience through "improved targeting of offers, faster and easier transaction clearing, and enhanced security that reduces opportunities for fraud," he said.
The Mobeam SDK license will be offered at no charge to developers for a limited time. Additional extensions may be available on a case-by-case basis following the trial period, the company stated. Software application developers can use the Mobeam Beaming SDK for Android to incorporate barcode beaming functionality into their mobile apps. The SDK supports a variety of barcodes.
An extensive library of APIs and resources is also available to app developers. More information, including the downloadable SDK and access documentation to Mobeam's developer portal, can be found at https://developer.mobeam.com .
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