LISNR®, the global leader in ultrasonic data transmission, announced a financial injection by Visa to accelerate its growth in mobile payments.
LISNR’s technology enables merchants and payment providers to universally accept mobile payment data securely across the customer journey.
„This is a single technology that can live across touchpoints like scan-and-go, store pickups, pay zones, Point-of-Sale, at home with e-commerce, and even voice-enabled purchases. The advantages also span beyond payments as LISNR can drive other use cases at these touchpoints, such as proximity messages, authentication, and identification.”, the company said.
With this investment and commercial relationship, Visa further validates LISNR’s push into retail as LISNR brings to market an improved mobile payment product across a wide range of use cases.
„With the priority initially focused on retail solutions and financial solutions globally, partners and clients will start to experience the power of ultrasonic payments this year. LISNR is also looking forward to working with VISA in additional payment use cases in mobility, transportation, and ticketing.”, according to the press release.
“LISNR is a better method vs. alternatives like NFC or QR codes for mobile payments globally, it decentralizes payment scenarios across a wide range of payment moments with advanced data protection, ability to transact at a distance and concurrent transactions – all which are designed to accelerate payments overall,” says Eric Allen, CEO of LISNR. “We are excited about our growing relationship with VISA and are looking forward to continuing to drive innovation in financial services.”
Founded in 2012, LISNR has pioneered data over sound solutions and its ultrasonic platform. The company has established superior performance, traction and intellectual property position in a growing ultrasound data transmission market.
Armed with the most advanced transmission features, LISNR has enabled one of the most secure and universal mediums for payments. LISNR and its partners look forward to driving this medium as the new payment standard in 2020 and welcome additional partners and retailers as early users.
Today, Visa, alongside multiple Fortune 100 companies trust LISNR to power data transmission between connected devices. Major investors include Visa, Intel, Jump Capital, Mercury Fund, R/GA, and Synchrony Financial.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”