MetaSepia enables >1 Billion Offline smartphones for Online cloud payments and Mobile2Mobile payments with 3 emerging products for wallets, brands, Softcard issuers, merchant cloud-Payment Services Providers (PSP), and Payments as a Service (PaaS) partners, including location-based marketing partners.
We bridge the mobile contactless Near Field Communication (NFC) disintermediation gap and transfer the 0.15% SamsungPay and ApplePay fees of ~$3B in 2019 to the online merchant PSP. We enable instant rewards and services for the offline customer at the mobile Point of Sale (mPOS). The customer conversion from NFC, and new users of contactless payments, will be driven by the greatly enhanced cloud-based User Experience (UX) at the mPOS payment moment.
About 2.8 Billion mobile wallets were in use worldwide at the end of 2020 and expected to jump 74% to 4.8 Billion wallets in 5 years, according to Boku/Juniper Research. More than 100 million Americans are expected to use proximity mobile payments, compared to 72 Million in 2019, according to eMarketeer, and more than 5o% of smartphone users will make proximity payments.
1. Offline Mobile-to-Cloud electronic commerce (eComms) and cloud-based Payments at the merchant online mPOS. We achieve this by using the common devices display and selfie-camera hardware as a high-speed Optical Modem system. This effectively bridges the Offline-customer to an Online/Cloud merchant communications layer at the mPOS, greatly reducing merchant friction and adding the online security, wallet function, receipting and rewards, stored value, alternative currencies, data sync, and other typical online payments and features at the mPOS.
The merchant services cloud establishes a separate offline customer security layer, enabling privacy for the offline customer. The merchant mPOS acts as an untrusted Optical pass-through/relay device and the transaction protocol is between the Offline phone and the merchant’s cloud PSP services.
2. Offline Mobile-to-Online Mobile Proximity Mutual Authentication for emerging m2m apps. We use the optical channel as the communications layer between phones rather than an RF/NFC communications layer. We act as a smartbridge between nearly all phones, enabling device ubiquity, and executing online protocols at the offline phone.
3. Offline-to-Offline transactions with software protocols similar to present offline mobile NFC and browser-based payments. The optical transactions occur between phones, and not an online cloud/server, in similar manner to present mobile Offline2Offline contactless transactions. This product also provides emerging mobile phone proximity transactions apps with Mutual Authentication and ID Verification.
We enrichen the offline retail UX with instant merchant and referral couponing, rewards, mobile to mobile transfers at the mPOS, member-to-member offline2offline OpenTable tab sharing, location-based marketing including Shopping Mall Maps and daily coupons, and payment of personal bills and subscriptions at the mPOS that is cheaper and faster. The no-friction offline UX with any personal phone will drive adoption.
Our technology is software-only and between any smartphone OS. The mPOS updates are at the server level and not the phone/device level, enabling fast updates for emerging payments. We’ll provide an api via a merchant services partner platform for use by existing wallets and Softcards or Tokens. We shift the center of mobile payments revenue towards the PSP, enable merchant branding and marketing via the cloud, and provide a richer UX at the mPOS moment!
We demonstrated mobile to mobile GooglePay and Paypass optical software payments protocols between offline IOS and online Android devices on the Abrantix CH certified test network, processing a test token in 2.39 seconds in Dec, 2020, and can achieve much lower speeds. This mobile to mobile payment prototype utilized a certified EMV Level 2 software kernel with protocols for mobile NFC, and normal merchant PSP processing and transaction authorization for NFC payments. We demonstrated only the software protocols as an example of how we bridge the NFC disintermediation gap as a novel ubiquitous communications gateway.
Company partnerships in MetaSepia assisting to achieve this technology prototype include Cryptomathic GB, Smart Architects GB, and Abrantix CH. These company partnerships, utilizing some of their ~100 collective payments and security engineers may assist, as needed, in development of this system with our other partners. Our motivated partnerships have vetted the technology with demonstrated initial prototype capabilities, a fully-inclusive payments for all phones vision, a novel online2offline payments architecture, a new location-based marketing channel at the mPOS, IP protection, a professional startup team, and an existing opportunity in mobile to mobile transactions.
We’re raising $2 Mn in seed funding in 2021 for a 12+ month program with 24 month runway to advance the prototype to Minimum Viable Product (MVP) beta-testing towards compliance and licensing and are working towards partnering with PaaS platforms, merchant PSP and SaaS hosted payments platform partners, wallet issuers and and marketing partners. The low cost of entry to MVP testing and the high upside potential qualifies this as an exceptional partnership and investment to acquisition opportunity!
The always-emissive color beacon technology greatly increases bidirectional 2-way data payloads and signal-to-noise improvements over static high-contrast 1-way QR codes, and can be located across the displays as patterns, logos or other branded or personalized objects.
The beacon’s multiple colors offer multi-bit data depth far exceeding QR data density (besides being a 2-way communication process), and necessary for fast software security protocols and data sharing. The user scanning-experience is similar to QR code payments and our data rate is testing at rates approaching NFC data rates.
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Kerry Brown, CTO and co-founder: email@example.com