Data Sheet

Data Sheet

Why MEE?


MEE (Mobile Economic Eco-system) enables simple, fast, highly secure and low cost transaction authorizations between Merchants and Consumer. The ambition was to make payment authorization easier than any other payment transaction method without the use of plastic cards. This ambition was originally achieved and proven through a live Proof of Concept with Merchants in a midsize city of Denmark (Randers). The MEE solution is now live within selected Netto shops in Denmark and it is now ready for roll-out at a large and global scale – either under own brand or as a white label solution!

Consumers

Merchants

Banks or Operators

  • No need to carry cash or cards
  • Efficient payment process
  • No storage of card or account numbers by MEE backend
  • Automatic utilization of loyalty program with Merchant
  • Prioritize means of payment and shift means of payment during transaction (if so desired)
  • Secure payment authorizations using encrypted 2-way Bluetooth protocol
  • Mobile phone does not use internet connection during the transaction
  • Integrate secure payment authorization into merchants own mobile app (iOS and Android)
  • Lower transaction fees
  • Easy POS integration
  • Integration to Merchant loyalty program
  • Simple MEE POS available
  • Digitalization of receipts
  • Hidden contact point (MEE terminal does not need to be visible)
  • New revenue stream
  • Break (near) monopoly of traditional card payment networks
  • Lower costs
  • Preempt PSD2 directive by taking ownership of payment authorizations
  • Integrate secure payment authorization into own bank app

MEE is ready for global roll-out

The MEE solution is born global, but local partners are required to distribute/manage MEE payment terminals to/for Merchants. Furthermore, one or more participating banks are required in each country to allow for account-to-account transfers.

MEE enables flexible price models

Due to the extreme low cost nature of the MEE solution and the fact that money does not flow through MEE (MEE only authorizes the payment), it will be be possible for MEE to authorize bank payment transactions at a very low cost, e.g. a fixed low fee per transaction.

MEE is secured by Cryptomathic

Cryptomathic is one of the world’s leading providers of security software solutions to businesses across a wide range of industry sectors, including banking. Cryptomathic has also provided the security for MEE. Furthermore security has been assessed and verified by F-Secure.

MEE Living Lab – Get started with MEE!

Potential investors or partners of MEE may want to set up a Living Lab for Proof of Concept. Within Europe this can easily be done for a number of real Merchants. If Proof of Concept also includes pure bank account transfers, then at least one participating bank needs to install the MEEadapter. In both cases a setup fee will apply to cover expenses and work effort by MEE.

Further information

Please fill out the below form and submit to get further information about MEE.