Surfair
Location: Washington, District of Columbia, United States United States
Founded in: 2015
Stage: Pre-launch
Number of employees: 6-15
Short URL: vator.co/yombu-inc
Referred by: Tech.co
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Yombu Inc.

With Yombu, you can by fingerprint at POS - no wallet, purse, or phone required.
Startup/business
Washington, District of Columbia, United States United States
https://www.yombu.com/
  • About
Company description

Imagine that you go out for a run and leave your wallet and phone at home. You want to buy a bottle of water. How can you pay? You go for a manicure – how do you reach into your wallet without ruining your nails?

 
Current payment forms are inconvenient and insecure. Think of those places where carrying or accessing plastic, mobile, or cash is a pain – gyms, beaches, nail salons, hotels, ski resorts, water parks, flights, and more. Moreover, why bother to pay by card, mobile, or cash at all when you have the most convenient and secure form of identification and payment on you at all times – your fingerprint? Also, point of sale (POS) fraud is a ~$10B industry in the U.S. annually and results in significant hassle costs for the consumer (e.g., lost card, identity theft). For the merchant, payment friction and chargebacks cause lost revenue.  


With Yombu, you can pay at POS by fingerprint (FP) – no cash, cards, or phone required. Quite literally, a customer could pay naked. To make a purchase, simply enter your PIN number on the Yombu tablet, scan your FP, and the sale is complete. On the Yombu mobile app, customers can upload credit/debit cards, change their “primary” card (the one associated with their FP), register/change their PIN, and monitor transaction history. Yombu is pursuing a patent on its process, and is developing trade secrets related to encryption, tokenization, and FP matching methodologies.


Team