Previously referred to as OmnyPay, Omnyway has constructed generation round what it calls “augmented digital commerce” — principally, serving to shops keep attached to shoppers via their mobile telephone right through the in-store buying groceries procedure. That comprises loyalty systems, coupons and what CEO Ashok Narasimhan described as a “seamless” mobile cost procedure at checkout.
This can all be built-in right into a store’s current app. The generation could also be powering Kohl’s Pay, the mobile bills and loyalty program that the dep. shop chain introduced ultimate 12 months.
Narasimhan instructed me that the investment will assist the corporate develop its new Zapbuy product, the place customers can scan an advert (which might be proven on TV or revealed in — principally, any place you’ll show a QR code), then purchase the product with a unmarried click on or faucet.
Narasimhan argued that this shall be “pretty revolutionary” for advertisers, as a result of it’ll give them a significantly better go back on funding for his or her campaigns. And whilst Zapbuy might be beautiful interesting to the shops that Omnyway is already running with, he stated it’ll additionally permit the corporate to amplify to new shoppers — “anyone who does advertising, not just retailers.”
In addition, the investment is meant to assist Omnyway amplify globally. It definitely comes from a world staff of traders, with the spherical led via Nyca, CommerzVentures (the challenge arm of Germany’s Commerzbank Group) and the CreditEase Fintech Investment Fund (a part of China’s CreditEase). Commerce Ventures and Industry Ventures additionally participated.