won the top award of $10,000 at Electronic Transaction Association (ETA)
Conference 2013 annual meeting and expo that took place in New Orleans
on April 30 to May 2, 2013. The ETA, which is the trade association
of the global electronics payments industry, oversaw the E-Pay
Innovation Award funded by the Bill and Melinda Gates Foundation.
Boleto is a unique barcode payment ticket that contains the
customer’s unique purchase data and Trak’s bank information. Boleto
is emailed to the buyer's smartphone
instantly, after checkout. Consumers can go with the printed Boleto
ticket or equivalent proof of the email to any Brazilian bank, selected
post offices, lottery agents, as well as some supermarkets for cash
payments. Thereafter, electronic verification is sent to Trak by the
payment provider and the customer’s order is released by the retail
store for pick-up or delivery. Brazilian users can find more information
Trak Wallet shopping and payment app for iOS and Android will be
launched for the first time this year in Brazil. The sign up process is
straight-forward and can be done directly on the user’s mobile phone
handset or at www.trakgo.com.
The Boleto payment option is presented at checkout alongside the
traditional card brand payment options.
Through Trak’s easy to navigate, beautifully designed, user-friendly
app, consumers can locate different stores and shops nearby; see
high-resolution photos of products and compare prices.
Brazilian payments industry experts contend that Boleto already
represents 20% of the $11.7 billion online e-commerce transactions
volume in Brazil.
“To extend Boleto to smartphones and tablets, combined with a great
mobile shopping experience and easy payment checkout options, makes a
lot of sense," said Keith White, CEO of Trak. “There is limitless
potential because penetrating just a small percent of the unbanked
market globally can be worth billions.”
The Brazilian Central Bank study forecast the percentage of unbanked
Brazilians at about 30 percent or 60 million people. Trak is set on
reversing this trend and introducing mobile shopping in places where,
electronic commerce is less common.