Investment in AblePay Technologies

Published: 22.02.2017

Investinor invests USD 160,000 in FinTech company AblePay Technologies from Trondheim, Norway.

AblePay Technologies enables mobile payment for any payment terminal, mobile or tablet.

AblePay offers SIM/SAM-cards with Bluetooth Low Energy integrated. They can quickly installed in any payment terminal, and the solution is now being rolled out in tens of thousands of payment terminals in the Nordics.

Consumers want to use their mobile for in store payments, but they are facing a problem: 75 million payment terminals globally don´t support mobile payment from any provider, standard iOS or Android phone.

Additional terminals are expensive, come with hassle like complicated installation and extra cables, they occupy valuable space for the merchant, and are not consumer friendly.

AblePay Technologies´ BlueSIM card upgrades any payment terminal for mobile payment in less than 5 minutes. It supports any mobile payment application and any standard mobile phone or tablet with Bluetooth.

It also enables innovative beacon services like pre-payment customer identification and advertising.

BlueSIM is a smart chip that adds Bluetooth to the payment terminal.

  • Installed like a SIM/SAM-card
  • Works in any terminal
  • Involves no cables and no extra terminal or antenna
  • Range of 5 cm to 3 meters
  • Patent protected

So far 50,000 suppliers of payment terminals have purchased AblePay Technologies’ smart cards. The solution is now being rolled out in Scandinavia, and tests are ongoing in several other European countries.

An even bigger market for AblePay Technologies is the world’s developing countries, where more than 180 million small shops are serving 4.5 billion customers daily. More than 90% of the payments in these shops are done with cash, inflicting cost in terms of risk, inefficiency and lost tax revenue.

CEO of AblePAy Rune Bjerke. Photos by Thor Nielsen

Founder and CTO of AblePay Mr Steinar Brede

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