The world’s first messenger app payments service dominates at Temenos Innovation Jam 2017

The Temenos Innovation Jam 2017 final took place in Lisbon last week, and the event was dominated by innovations in payments.

Following presentations from ten fintech start-ups from around the globe, it was PayKey, the world’s first payments keyboard, that was crowned the winner of the event, having garnered nearly 50% of the crowd vote at TCF 2017.

PayKey is composed of patent-pending technology that allows users to make payments within popular messenger apps from their mobile banking accounts, without having to enter the app associated with the mobile banking account in question.

With the average user now utilising less mobile apps than two years ago, but spending a much larger percentage of their mobile usage time in messenger apps such as WhatsApp, Facebook Messenger and WeChat, there is a clear need to innovate payments functions inside messenger services as the next stage in omnichannel banking.

PayKey’s identification of this pressing need to execute payments, including peer-to-peer payments, without exiting a messenger app greatly impressed the crowd at TCF 2017. It will be of little surprise to see similar technology on the market quickly, such is the pressing consumer demand to unlock payments capabilities within messenger services.

Guy Viz, Vice President of Sales with PayKey said “We are honoured to have been chosen by a community of banking experts as the global winners of the Temenos Innovation Jam 2017. This is another milestone on our mission to put banks exactly where their customers are; on social networks.”

Ten fintech start-ups made it through to the Temenos Innovation Jam final from five regional heats held around the globe. Of all the finalists it was the payments innovation presentations that were best received by the Temenos Community Forum; in addition to PayKey’s success Blue Code, an advanced cashless payments app, was also acknowledged with the Judges Award.

David Arnott Temenos CEO remarked: “Innovation Jam is about scouring the world to find the most innovative fintech developers and working with them to help bring the benefits to Temenos customers.  Innovation is moving at a blistering pace in the banking industry and its companies like PayKey that continue to disrupt.”

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