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EMP Corp: towards a cashless, cardless society

Mis à jour : 14 mars 2019



EMP e-wallet is the customisable online payments solution that gives businesses the flexibility and transparency they need. Developed by Lux Future Lab based EMP Corp, the solution is on course to account for € 500m volume of transactions in 2019. After three years within the Lux Future Lab , the firm is set to move out to new premises this year as it continues to grow. We spoke to EMP Corp co-founder and CEO Gilles Moro.

Although credit cards are likely to remain the main payment method online for some time, at the back of every client’s mind is how this process remains vulnerable to hacking and fraud. Even the largest, most well resourced e-retailers lose card data, and smaller businesses are even more vulnerable. This concern puts a brake on the growth of cashless payments offline and online.


Electronic payments for all


Most e-wallets (such as PayPal) give added security, as they enable users to avoid entering their payment details onto a third party site. However this relatively expensive, one-size-fits-all service is not appropriate for many business models, particularly for smaller firms.


“You can’t use PayPal in a taxi, for instance, it’s cash or card,” Gilles pointed out.

“However with our system the driver can send the bill to the customer via text message, and this can be settled from the e-wallet mobile app without the need for cash or cards to change hands,” he added.

Afterwards the sum is debited from the client’s credit card. The system can handle multiple currencies too. He sees this as a cashless, cardless solution that works for retailers, hotels, restaurants, mobile medical services, cafés, taxis, street traders, gambling outlets, sale-at-home parties, and more.


As well as being easy to use for both sides of the transaction, if is fully integrated with banking services, and it keeps the retailer fully up to date with their account status with real-time reports, including alerts. Thus within an instant merchants know when the payment has been made. Interfaces and reports can be customized to meet the exact needs of the merchant. Filters and searches can be conducted on reports, whether the business wants to view data on single or multiple transactions. These reports give retailers accurate information about when and where their sales are strongest, helping them to set strategies. There are also risk management and fraud prevention tools, as well as 24/7/365 technical support.


Growth strategy


EMP Corp was founded in 2013, with the e-wallet solution developed in 2014. Since then the focus has been on developing the commercial strategy internationally. Their initial move was into online gaming, betting, and e-commerce, principally focused on the Scandinavian and broader EU market. They have hired national sales managers across Europe. They have just merged with another EU-based company in order to better target international platforms in the hotel, tourism, catering and hospitality sectors.

“We had more than €400m volume last year and this year we expect €500m, with turnover at €12m in 2018 and €15m expected in 2019,” Gilles said.

They are moving up and moving out, as after three years at the LFL they need to find new premises.

“It’s a pity we have to leave as we enjoy the environment and location here, and we have benefited from the advice and networking support,” he added.

During his career Giles has been involved in over a dozen start ups, all related to payments, with this project being particularly successful. If all goes well, the plan is to look to list the company on a stock market this year.


Written by Stephen Evans

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