Disrupting credit card transactions by collecting item level data on every purchase.
WINNER: Yodlee Interactive
Mobile payments are taking time to become the started method of payment due to POS mismatch, device limitations, and competing standards. We realized that there is a wealth of information available to us from data at financial institutions using the Yodlee APIs in combination with the in-person experience of receipts. This combination is so powerful that it can disrupt the current purchasing experience in the following ways:
: Fraud prevention - real-time pushes to device to approve transactions : Item-by-item list per transaction - being able to list out not only the purchase amount, but also what exactly a consumer bought from each vendor is a huge breakthrough in the financial industry. It opens doors to a whole new level of user data for advertisers, consumer behavior data for vendors, and purchase data for consumer budgeting. : Instant expense reporting - employees will never have to save paper receipts ever again and never have to file an expense report ever again.
: OCR - Reading and parsing receipts to get itemized data and matching to transaction : Instant mobile push per transaction : Automated expense reporting