SVIPE GETS BACKING FROM NOW! INNOVATIONSNOW! Innovations has acquired a stake in the Estonian start-up Svipe. Also, LHV group, a banking group based in the Estonian capital, is one off the major investors.
The contract, signed on December 9th, brings the support of NOW! Innovations and other investors to Svipe. Svipe offers card-free customer loyalty solutions for smartphones. This start-up creates a link between the merchant and the client or a new marketing channel that earns extra income for the merchants. Svipe delivers information about discounts and special offers to the customers during their shopping experience, right then and there when they are interested in this information the most. All a customer needs is a smartphone or a Svipe NFC sticker.
Now! Innovations, LHV Group, ERPLY business software and Valgekrae Digilahendused are now partners of Svipe.
Üllar Jaaksoo CEO of NOW! Innovations said, “We are happy to help the Svipe team create their solutions and achieve their goals. We are contributing with our investment as well as our expertise in the area of mobile payments. NOW! Innovations believes that mobile wallet is very different from mobile payment and personalized approach will become even more important in the future and we’ve incorporated these principals in our own technology. We got excited about Svipe’s platform because it provides the opportunity for this kind of tailored offerings, which we have been promoting for several years. The team is young, ambitions, and enthusiastic and we are glad to be part of its effort.”
Head of Retail Banking at LHV Bank Andres Kitter says that LHV has faith in the potential of Svipe and its team. “We hope that constructive synergy will emerge between LHV’s financial services and Svipe – we can help a company that is at the start of its journey to develop its service with our know-how, and the new and ambitious ideas of Svipe will also help LHV,” said Kitter. “LHV has also contributed to the loyalty programmes of companies, which is where our activities come into direct contact.”
Olle Kaidro, CEO at Svipe, said that everyone on the team is excited. “We know that the future of customer loyalty and retail payments lies in mobile phones and we’re taking the first strong step in that direction,” he said.
“Svipe is creating a card-free life because we’ll be transferring all plastic loyalty cards to mobile phones,” Kaidro explained. “Purchases will become faster and special loyal customer offers will always be at hand. Customers will be identified in a touch-free manner in shops by the Svipe Box, which is based on NFC and iBeacon technology. Integration with ERPLY cash register systems guarantees all parties a comprehensive overview and the one-sided communication, which was the problem with plastic cards, will disappear.”
“We joined the Svipe project because the existing loyal customer systems seemed expensive, complicated and inadequate,” explained CEO at ERPLY Kristjan Hiiemaa. “The customers are not given enough attention, the service offered to them is often not personalized and the marketing aimed at them does not take their wishes into consideration. We’re working together to launch a new solution that allows customers to announce their presence as soon as they enter a shop and then receive the service they deserve.”
NOW! Innovations:NOW! Innovations is a global SaaS provider of mobile payment and billing solutions operating on 3 continents and in 8 countries. The Company has developed a flexible and easy-to-use billing and payment platform for parking, electric vehicle charging and other mobility services. NOW! Platform, enables parking and EV-charging operators to not only add mobile phone payments to their existing system either independently or as an integrated approach but also to implement Intelligent Parking System, which allows increasing revenues and efficiency, decreasing costs, and providing green solutions.