September 15, 2016 – Munich: RUBEAN AG, Munich, (ISIN: DE0005120802, WKN: 5120802) is going public with a view to the rapidly growing market for mobile and online payment systems. Trading on the open market of the Munich Stock Exchange is scheduled to begin on September 16, 2016. The software company, which has been developing software solutions for banks and savings banks for more than ten years, is thus laying the foundations for taking a leading position in mobile and online payment systems with a newly developed software solution. 1.0 million no-par value bearer shares with a nominal value of one euro, representing RUBEAN’s share capital, will be included in trading. “Mobile and online payment is the future. We expect that in the not too distant future the lion’s share of all payments will be processed online and via smartphones,” says Dr. Herman Geupel, CEO of RUBEAN AG. “With our positioning on the capital market, we now have a good framework to flexibly finance our planned strong growth.”
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RUBEAN expects strong business growth from the distribution of its new and particularly innovative software solution RubeanPay. It is a unique solution for mobile and online payments, for which a patent application has already been filed and which meets the requirements for maximum security and convenience. The solution transforms smartphones into card terminals. Customers can use it to pay online just as securely and easily as they are used to at the store counter. “We are about to enter into various partnerships with companies from the banking industry, the online retail sector and a leading smartphone manufacturer, which will help us achieve very rapid distribution of our RubeanPay,” Dr. Geupel continues.
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What makes RubeanPay unique is that this solution enables online purchases not only with credit cards but also with PIN-based debit cards. Users need a Trusted Execution Environment (TEE) secured Android smartphone and a contactless (NFC) debit or credit card for this.
The RubeanPay app turns smartphones into card terminals through which online payments can be made. The customer sees the payment amount on the smartphone display, holds their NFC-enabled bank card against the back of the smartphone, and enters the card PIN into the smartphone. The rest of the payment process is automated. This new online payment method is easier to use than a bank transfer and more secure than other payment options. RubeanPay is also compliant with the new European Payment Services Directive PSD2.
RUBEAN AG has already developed software for the highest quality and security requirements of banks and companies, including operating system-independent software that can be used to operate and network all end devices in bank branches. The corresponding device management software has been used worldwide at around 50,000 workstations in banks and savings banks for over a decade.
RUBEAN AG serves as the holding company for two subsidiaries, each representing one of the company’s two business areas: device management software and software for mobile and online payment systems. In the 2014/2015 fiscal year (October 31), the RUBEAN group of companies achieved a turnover of around 0.4 million euros and a net profit of around 0.9 million euros, with the required accounting activation of internally developed software resulting in an extraordinary profit. In the 10-month fiscal year 2014, sales amounted to just under 0.5 million euros, while a loss of 0.35 million euros was incurred. “The launch of our new software RubeanPay is planned for 2016. We expect the first revenues from it in the coming fiscal year,” says Dr. Geupel.
