Crunchfish signs AR-based mobile payment agreement
Posted OnNovember 29, 2016 by Anish S
Crunchfish has signed their first commercial agreement for mobile software component aBubbl® that activates Augmented Reality (AR) in third-party applications. The agreement is a two-year contract, renewed one year at a time. The business model is transactional based and future income is part of the invoiced amount per transaction. At present time the revenue value cannot be estimated.
aBubbl® augments reality for Pej users by letting them discover local merchants in their vicinity, see their offers, place an order and skip the line at the cashier since the order can be paid, prepared and picked up must faster. In addition, the aBubbl® technology gives merchants the opportunity to discover and communicate with potential customers close to their stores.
"Pej is important to Crunchfish for many reasons. It is the first commercial application where Crunchfish activates AR in a third-party application. Furthermore, it is for mobile payment with a transactional business model based on invoiced amount rather than license or royalty fees. We will charge the same way credit card companies charge merchants for using their service.” says Joakim Nydemark, CEO of Crunchfish.
“By using aBubbl® with our own order and payment platform we have created a groundbreaking application that combines augmented reality with mobile payment. We think cafés and restaurants, as well as our merchants in locals.se, will be quick to embrace this opportunity.” says Victor Sandberg, founder and CEO of Luckan.
Luckan expects to have the first commercial installation in place in the beginning of next year..
Crunchfish operates in the fast expanding field of Augmented and Virtual Reality, developing software that creates new possibilities for interaction with consumer electronics. Our product Touchless A3D® enables touchless interaction with hand gestures. Our software platform aBubbl® enables the activation of Augmented Reality in any application and lets users of mobile devices locally and seamlessly discover and communicate with each other. Crunchfish’s technology is licensed to consumer electronics manufacturers and application developers and is currently available in millions of devices from global enterprises. The company was founded in 2010 and is based in Malmö, Sweden. Visit crunchfish.com for more information.