After months powering barcode-based gift-card redemption on Samsung Pay’s mobile payment service, Mobeam just got a promotion. The beaming technology can now be used with Samsung Pay to transmit barcodes from any loyalty or membership card at POS laser scanners.
According to Mobeam CEO George Garrick, this helps close the gap between the trend toward non-cash promotions at checkout, often using barcodes, and the limitations of most in-store retail POS systems that cannot read these barcodes when they are displayed on smartphone screens.
Pictured: Mobeam Head of Technology Venky Raju during his presentation “Completing the Mobile Wallet” at FinDEVr New York 2016.
“Contrary to what a lot of people think, it’s not at all as simple (as) taking a photo of the barcode with your camera and then showing that photo to the laser scanner,” Garrick explained. Instead, Mobeam’s technology emulates the barcode by beaming an infrared LED into the POS laser scanner. The scanner reads the transmission the same way it would read a physical barcode. “(This) is an extremely sophisticated technology,” Garrick said.
Mobeam announced earlier this month that it has surpassed 40 million barcode beaming transactions at retail point of sale. The company added that it was processing more than two million transactions a month for barcoded loyalty, gift, and rewards cards. In February, Mobeam introduced its revamped Beep’nGo wallet and coupon app for Android, adding location-based card reminder and an improved process for loading cards and offers.
Headquartered in Palo Alto and founded in 2010, Mobeam demonstrated its technology at FinDEVr New York 2016. The company has raised more than $21 million in funding, most recently completing a $6.2 million Series B financing in October 2015.