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Fidesmo wants to revolutionise the way we pay

EntrepreneurCountry Global Monday, 02 June 2014.

Your line of work or daily commute often dictates the number of cards you may need to carry with you for various modes of transport. But the Stockholm-headquartered company Fidesmo has created a single contactless card, which they believe will streamline even the most cumbersome of wallets.

shutterstock 163505729The card can be loaded up with multiple travel passes/tickets, employee badges, loyalty cards and more using any NFC-enabled phone. The Fidesmo mobile app eliminates the need to visit a physical agent to top up a user's balance - instead it can be done by touching the card to the phone.

According to CEO Mattias Eld, a former TSM product manager at Ericsson, the card will greatly reduce the stresses involved with public transport. He says: "If you compare it to what you can do today with mobile phones and buying tickets, it is not that easy to buy tickets with the phone. With this you will be able to do it instantaneously without having to wait for input from the mobile network operators."

Of course the card is not limited to only solving the problems of travelling by public transport. When you consider our thirst for efficiency and speed, the potential for Fidesmo to disrupt the way we pay for goods and services globally is practically endless.

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