The Polish biometric payments specialist PayEye will be looking to raise its international profile with a “Go to Brand” grant from Poland’s Agency for Enterprise Development. The grant is worth around PLN 460,000 (approximately $123,000 USD), all of which will be set aside to help promote the brand in foreign markets. The company is currently piloting its payment platform at nearly 100 locations in and around its home city of Wroclaw, but is already moving forward with plans to launch in the rest of Europe and in other parts of the world.
Poland’s “Go to Brand” grants are set aside for small and medium-sized enterprises, and are part of the European Union’s Smart Growth Operational Programme. The Programme was set up to encourage technological innovation, and contributed roughly PLN 395,000 of the PLN 460,000 total through a co-financing arrangement with the Agency for Enterprise Development.
PayEye will use the funds to participate in professional and promotional events all over the world, with a particular focus on Europe, the United States, the United Arab Emirates, and Singapore. The company is specifically targeting areas where there is a higher demand for cashless payment options.
“We feel that we can become a Polish export brand that will be recognisable in the world,” – said PayEye CEO Krystian Kulczycki. “Our solution combines the achievements of science with state-of-the-art technology, so we have something to boast about.”
The news comes shortly after PayEye announced that it would be working with Advapay to build a new biometric banking platform that lets consumers pay for goods with an iris recognition scan. The solution will combine Advapay’s online banking infrastructure with PayEye’s iris-based Point-of-Sale devices. SiriusXM has also used iris recognition technology from EyeLock to verify the identities of people using its own in-car payment platform.
January 27, 2021 – by Eric Weiss