PALO ALTO, Calif.--(EON: Enhanced Online News)--Ben duPont, Mobeam’s lead investor, member of the board of directors and founder of yet2Ventures, appeared on CNBC’s Mad Money with Jim Cramer last night to discuss how Mobeam and its Beep’nGo application will shake up the mobile wallet space. On the program, duPont demonstrated how Mobeam’s Beep’nGo app, one of Dr. Oz’s favorite apps, lets consumers easily keep all of their loyalty, gift and membership cards right on their smartphone and “beam” them straight to the scanners already in millions of stores.
“Mobeam is changing the way we spend money. That’s what’s key”
Mobeam, a light-based patented technology that enables smartphones to be read by everyday barcode scanners at point-of-sale, is transforming mobile commerce. In the gift card space alone, more than $41 billion in gift cards have not been used since 2005.
“Mobeam is poised to shake up the mobile wallet space. In 2012, US mobile wallet users spent more than $500 million, nearly all of it at Starbucks. Mobeam is further opening up the mobile wallet space market for everybody – from retailers to consumers,” said duPont. “Mobeam and our new Beep’nGo app are compatible with the millions of standard scanners already used at point of sale – no new hardware or software for retailers. Just a simple app for consumers to download for free.”
“Mobeam is changing the way we spend money. That’s what’s key,” said Jim Cramer. “It brings us one step closer to a future where you literally use your phone for everything,” he added.
Just last month, Mobeam officially launched its Beep’nGo application on Google Play.
Beep’nGo is exclusively available on the Samsung Galaxy S4 and the Samsung Galaxy Note 3, which was unveiled last month at the Samsung Unpacked event in Berlin. The Samsung Wallet on the Galaxy S4 and the Galaxy Note 3 will also activate the core Mobeam platform for barcodes. Earlier this year, Samsung said retailers prefer barcodes because they do not have to install any new infrastructure. VentureBeat noted, “Mobeam’s technology could be an essential piece of the mobile payments puzzle.”
Watch a video about “Beep’nGo”.
Watch a “How It Works” tutorial of Mobeam’s technology.
Learn more about Mobeam.
Mobeam, Inc. is transforming mobile commerce with its unique and patented light based communications technology. The company was recently named one of the hottest technology companies in San Francisco for 2013 by business research firm Lead411 and took second place CTIA’s 2013 Emerging Technology (E-Tech) awards in the Mobile Apps – Money – Payments, Banking, Mobile Commerce, Shopping and Rewards category. Overcoming the technical barrier preventing mobile phones from interacting with laser scanners at checkout, Mobeam’s technology provides universal access at point of sale (POS), enabling the transmission of coupons, loyalty offers, gift cards, tickets and other barcode data at retailers worldwide. Mobeam’s technology creates new capabilities for existing mobile phone designs, and requires no changes to retailer POS infrastructure. Mobeam is headquartered in Palo Alto, Calif. For more information, visit http://www.mobeam.com.