Startups Propose Solutions for Customer Security and Loyalty

© Can Stock Photo Inc. / EyeMarkThe parade of startups keeps coming at Money20/20. A further eight startups demoed Tuesday in Las Vegas, adding to the seven that showed their wares Monday. Customer authentication and security, as well as loyalty and rewards programs, were major themes among presenters.

Manifold Technology demoed a blockchain-based platform for exchanging rewards and loyalty points. The platform offers merchants greater visibility into their rewards programs, while also offering consumers more choice and flexibility.

Velocity is a restaurant payment app that earned headlines with its purchase of competitor Cover in September. Velocity is an “aspirational brand” that aims to sell a lifestyle and bring Uber-style low-friction payments to fine dining.

Nymbus announced a new core banking platform that incorporates social profiles and spending behavior to provide the elusive 360-degree customer view. The company announced it expects to sign one new customer a day in 2016 a few years — an extremely ambitious goal given the effort involved in core updates.

Slap stands for social learning and payments. The company is a challenge platform the way SurveyMonkey is a survey platform. Users can create challenges — the example used was the wildly successful ALS ice bucket challenge from the summer of 2014 — and share them on social media to support causes or raise awareness.

Payments platform Aevi is a spinoff of German banking technology provider Wincor Nixdorf. The company announced its Albert point-of-sale system and its app marketplace for payments processors. Aevi has already partnered with Commonwealth Bank of Australia, it was announced today.

Privacy.com introduced an intriguing platform to create one-time disposable virtual cards to be used at the point of sale or online. These disposable cards protect the customer by keeping his information private and secure, and the merchant, since the card credentials cannot be used again if stolen.

MagicCube is another security startup. The software creates a virtual device for secure transactions within a user’s mobile phone. This trusted execution environment can process transactions without exposing any information on a user’s device. The company is currently running pilots with Visa.

Replay earned its demo slot by winning the Money20/20 Hackathon, held Sunday. Replay allows merchants to attach advertisements to Apple TV programs for customers in their area. The example used was a toy lightsaber that could be promoted by a retailer when customers in the same geography viewed a Star Wars film.

For more insights on fintech startups, join us at Bank Innovation Israel, November 10-11 in Tel Aviv. Visit bankinnovationisrael.com for more information.

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Philip Ryan is Senior Editor of Bank Innovation and Senior Director of INV Fintech. He began covering financial services in 2012 and has more than 15 years' experience in online journalism. He once worked in an office in which he had the only modem (33.6 kb.) He can be reached at pryan@royalmedia.com.

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