Mobeam Surpasses 40 Million Barcode Beaming Transactions at Retail POS

Mobeam announced it has completed more than 40 million retail point-of-sale (POS) transactions, a milestone that showcases the growing demand for true mobile wallets that are uniquely able to process gift cards, loyalty cards, coupons and other barcoded data.

The company reported it is now processing more than 2 million transactions per month via apps from multiple retailers and grocery stores, as well as Mobeam's own popular Beep'nGo app. The transactions are processed throughout the U.S., Asia and Europe.

Mobeam's patented light-based beaming technology overcomes historical technical barriers and enables POS laser scanners to read barcodes on Android mobile devices. Popular and emerging "mobile payment" apps rely on NFC or other technologies that communicate with credit card payment terminals, but not with scanners. Mobeam enables true mobile wallets and not just NFC-based card payment substitutes, meaning payment apps can now carry loyalty cards, membership cards, gift cards, tickets, vouchers and coupons, providing them with universal POS access at retailers. Mobeam technology easily integrates with all existing mobile payment apps, thus completing their role as a comprehensive mobile wallet.

Mobeam currently operates on more than 375 million Samsung phones, and the company is in talks with other manufacturers to expand the technology to other market leading devices.