The starting point
The European Union announced its E-Money Directive in 2009 to foster the creation of innovative, comfortable and fast methods of payment, and to help the establishment of the European competitors of the American payment companies.
Money currently exists in three forms in the EU countries: hard cash, money kept in the bank accounts, and e-money. E-money is money of which record is kept on electronical storage devices (chip cards) or on servers.
Barion is a HUF based e-money operated by the Barion Payment PLC. (MNB licence number, valid for all parts of the EU: H-EN-I-1064/2013, institutional identification number: 14859034.)
To appreciate the advantages of e-money it’s important to be aware that according to the E-Money Directive of the EU, e-money transfers are not charged with commission. This makes possible to transfer money for free from an e-money account, which is a great advantage if we have to transfer only small amounts of money but many times.
Moreover, with e-money it becomes possible to create new, intelligent payment services: e-money lets the participants of social economy (Uber, Airbnb etc.) transfer the client’s money directly to the account of the vendor while only their commission is transferred to their own account. With this service Barion aspires to become the European competitor to PayPal.
Throughout the project we didn’t have any kind of marketing or advertising budget.
Barion is a start-up company that has to flexibly react to the new developments in its environment. In the course of the 9 months of working together our client changed its strategy several times. We pursued general residential communication (parking using e-money, the advantages of e-money), partner communication (PCI DSS, using e-money at the payment terminals in stores), communication with the IT developers (Barion API, Wordpress integration) and communication with investors. And in the end, we communicated the advantages of the Barion payment gate, accomplished meanwhile, to a special target group, the participants of social economy.
Results of a 10 months campaign
- 7 press releases and organized interviews
- 169 apperances, including Forbes, HVG and Figyelő (all print)
- 55,7million HUF AVE value
The continuation of the project
Sense/Net PLC., the company that launched the service, has meanwhile founded Barion Payment PLC., a new, independant company for Barion.
Barion Payment has received foreign investment of six million euros, ie almost two billion forints in 2017.