Companies can install the CSOP app directly onto their Facebook pages or websites, which gives visitors the option to buy a stake in the business through a process which takes “three clicks”, according to Loyal3. Stocks are broken down into fractional shares, meaning that investments can start from USD 10 and customers can own less than one share if they do not have the budget. Fees, which are normally applied when buying stocks and can cost up to 60 percent of the stock price, are also waived by participating companies. Loyal3 believes that businesses benefit by attracting customers that are more likely to be loyal, recommend the company to friends, and spend more. The app also means that fans of a brand can buy shares without leaving Facebook.

With a strong emphasis on ease-of-use for those looking to buy stocks, CSOP offers an attractive proposition to those who may feel that investing is beyond them, while also providing the company with more devoted customers. Could something similar benefit your brand?

Website: www.loyal3.com
Contact: info@loyal3.com

Spotted by: Vitus Zeller

Whereas most existing biometric ATMs still require authentication using a bank card, Ogaki Kyoritsu Bank’s devices will not. Rather, users of the bank’s new ATMs will register ahead of time at a local branch with their palm print and other key information. Then, to use one of the devices they’ll need only enter their birth date and a four-digit PIN along with having their palm scanned, according to a Nikkei report. The new technology will reportedly be installed at ten banks and a drive-through ATM in September.

We’ve also seen cardless banking via mobile phone, of course, but Ogaki Kyoritsu’s initiative goes a step further by completely removing the need for any additional cards or devices. Banking entrepreneurs around the globe: what about you?

Website: www.okb.co.jp
Contact: netplaza@okb.co.jp

Spotted by: Cecilia Biemann

Currently, shoppers whose purchases don’t add up to a whole-dollar amount are often forced either to buy an extra item to make the total round up, or to accept a credit note that’s typically good only at the store that issued it. With Yo Time, however, participating retailers can issue change in the form of PIN-less airtime credited directly to the shopper’s mobile phone number. The service can handle credits of any value between 10 cents and USD 50. Once sent, the shopper receives the airtime within eight seconds along with a confirmation message.

Yo Time has already been embraced by several leading retail chains and supermarkets in Zimbabwe, the company says. A model to bring to other currency-strapped nations around the world?

Website: www.yotime.co.zw
Contact: sales@yotime.co.zw

Aiming to become “the digital equivalent of the coins we use every day,” in the Canadian Mint’s own words, the MintChip will target micro- and nano-transactions conducted both online and offline, whether at the physical point of sale, on mobile devices, or among peers. Based on a direct asset transfer model that moves value among participants without the involvement of any intermediary such as a credit card company, the MintChip will require each user to have dedicated technology loaded in an account in the cloud, mobile device, USB stick or PC. The Mint explains: “MintChip is based on two technical propositions: the creation of secure integrated circuit chips to hold electronic value and a secure protocol that allows the transfer of value from one chip to another and ensures the integrity of the MintChip system. It operates without the need for personal identification, thereby maintaining the user’s privacy.” The video below explains the premise in more detail:

Having recently announced that it will discontinue the penny, the Royal Canadian Mint was, for a period, challenging developers to help make the MintChip a reality. It had to stop accepting registrations early, however, because of “a very high level of interest,” it says. Winners — due to be announced in September — will receive a total of roughly CAD 50,000 in gold. Public voting and a panel of judges including Google’s vice president of payments will select where the honors go. Potential privacy issues have been flagged by at least one observer, but there’s no denying this is one to watch as it unfolds.

Website: developer.mintchipchallenge.com/index.php
Contact: mintchipsupport@mint.ca

Currently in alpha testing and due to launch officially next month, the Barclaycard Ring MasterCard card will have one low interest rate of 8 percent for all balances, with simple, easy-to-understand terms and no balance transfer fees or annual fees. Through a virtual community, meanwhile, cardmembers will get to see the card’s financial profit and loss statements. They’ll also have a forum for exchanging ideas and suggesting new features. An online framework will give cardmembers a way to influence decisions that affect how the card is managed and serviced, while the card’s “Giveback” program will enable the community to share in the profit generated from its collective decisions.

Paul Wilmore, managing director for consumer markets with Barclaycard US, explains: “Through simple and transparent terms, we want to pull back the curtain that has traditionally separated banks from their customers and give our community a say in weighing economic tradeoffs that can create a better cardholder experience.” The video below explains the premise in more detail:

Is there any industry in which crowdsourcing can’t make things better? Other banks around the globe: one for inspiration!

Website: www.barclaycardring.com
Contact: www.aboutbarclaycardus.com/contactus.php

Founded last year, Lucky Ant is currently operating in Downtown New York with plans to expand to more cities this year. Businesses can post a project they need funding for to the site — for example, new equipment, staff or repairs — along with a target amount. Entries are screened and selected by the Lucky Ant team to feature on the site. They hope that by posting projects one a time they will achieve a greater number of pledges. However, if the target is not reached after seven days the business will receive no funds and those who pledged will not be charged. Once goals are reached, businesses can thank their supporters with perks, free goods, or by whatever means they wish. Individuals can also nominate local businesses they’d like to support and can view project fundraising progress via the website. The video below explains Lucky Ant in more detail:

Hyper-local crowdsourcing allows consumers to help their favourite businesses to grow, and could potentially build thriving local shopping areas. An idea to try out near you?

Website: www.luckyant.com
Contact: via website

Spotted by: Katharina Kieck

Supplied with locally made treats and artisanal coffee, State Farm’s new Next Door Café is billed on its Facebook page as “a creative community space and café where anyone can ask questions about finances and insurance stuff and find answers. No pressure. No sales pitch. No kidding!” The café is open from 7 am to 10 pm daily, with expert-led coaching and classes during the the day. Also on hand are free wifi, a library and a meeting room. Everything is free, in fact, “except the coffee,” says the company, which also offers up the space for local events.

Similar in many ways to Heineken’s brand-sponsored Wix Lounge, State Farm’s Next Door is offering a valuable service for the local community, and bringing the brand closer to potential customers. An approach to test out in your brand’s locality?

Website: www.nextdoorchi.com
Contact: (773) 472 DOOR

Spotted by: Bill Dagiantis

The creation of Austrian watchmaker LAKS, Watch2Pay devices come with both a standard-sized MasterCard PayPass prepaid card, and a smaller version of the card which is fitted inside the watch. Both are linked to the same prepaid, reloadable account, and both are valid for two years. When shopping at participating MasterCard PayPass retailers, Watch2Pay users can simply hold their watch up to the retailer’s reader and payment is instantaneously made. The standard card, meanwhile, can be used at stores without PayPass technology. Available in numerous colors, each Watch2Pay device is priced at GBP 99. The video below explains the Watch2Pay premise further:

PayPass users spend roughly 25 percent more on their card each month than users of other cards do, MasterCard has reportedly said. What’s your brand doing to enable, support and encourage contactless payments?

Website: www.watch2pay.com
Contact: laks@laks.com

Spotted by: Charlie O’Connor

Launched in October, CivilisedMoney’s goal is to make it easy “for people to invest, donate, lend, borrow and transact money with each other directly at fair and transparent rates” without the involvement of banks. It began by crowdfunding GBP 100,000 for its own effort in just nine days, making CivilisedMoney one of the largest crowdfunded businesses in the UK, and the only crowdfunded business in financial services. It also launched with two features: an equity-based crowdfunding product allowing businesses to fund start-ups and expansion, and a rewards-based crowdfunding effort through which like-minded consumers can pool their money to back an idea, a person, a business or an organization. In either case, there’s a 5 percent fee for funds secured, but only if the fundraising target is reached. Ultimately, CivilisedMoney plans to offer a full range of peer-to-peer financial services products. “There is no fractional lending, no excessive bonus payments, no gambling with your money, no hidden and unfair fees or charges,” it explains. In the video below, founder Neil Crofts explains the premise in more detail:

CivilisedMoney aims to expand beyond the UK and bring peer-to-peer finance to as many countries as possible via licensing and other arrangements. Financial services entrepreneurs around the globe: time to get involved?

Website: www.civilisedmoney.co.uk
Contact: info@civilisedmoney.co.uk

Spotted by: Cecilia Biemann

We’ve already seen banks target immigrants, gay consumers and women, but — similar in some ways to microcharity Jolkona’s youth-targeted approach — OCBC Bank’s new FRANK brand aims to deliver a fresh new array of banking services to young consumers. Trendy retail stores take the place of staid banking branches, for example, while customers can choose from among more than 130 stylish designs for their credit and debit cards. Savings accounts, meanwhile, offer a considerably higher interest rate than most competitors. There are no initial deposits required, and no monthly fees for those under 26 years old. The video below summarizes the basic concept underlying FRANK:

If there’s any industry in need of a fresh approach today, it’s banking. Other financial institutions around the globe: what about you?

Website: www.frankbyocbc.com
Contact: contactus@ocbc.com

Spotted by: Wee Hoon Tan

Just launched into beta, San Francisco-based SaveUp allows consumers who bank at any of more than 18,000 US financial institutions to earn credits for performing positive financial actions. For example, credits are awarded when a user contributes to their savings or retirement accounts; pays down their credit cards, mortgages or other loans; and engages with SaveUp’s financial education content on the site. Those credits, in turn, can be redeemed for chances to win instant prizes, or for entry into weekly and monthly draws. Underwritten by SaveUp’s sponsors and bank partners, prizes range from retail gift cards and consumer electronics, to luxury vacations, college tuition and even a USD 2 million jackpot. The video below explains SaveUp in more detail:

Consumer debt in the US alone is more than USD 2.4 trillion, according the US Federal Reserve. Could gaming prove the solution to help get rid of some of that?

Website: www.saveup.com
Contact: info@saveup.com

Spotted by: Alice Revel