PaynoPain, among the 12 ‘fintech’ finalists of the South Summit 2016

The easyGOband smart wristband has opened wide the doors of the South Summit to PaynoPain. Our tool to streamline access and purchases at festivals, major events and universities was selected among the 12 finalists in the startup competition within the Fintech category, which allowed us to be present at the industry's reference event, held in La N @ ve from Madrid from October 5 to 7.

With nearly 3,000 competition projects from more than 20 countries, the South Summit has become not only the main event of digital entrepreneurship in Spain, but also of southern Europe, with a clear international vocation and oriented towards Latin America. According to the official figures of the organization, about 10,000 people attended the fair during the three days.

PaynoPain was invited to attend with its own stand and the company's COO, Jordi Nebot, had the opportunity to present easyGOband to a wide audience composed of investors, media and entrepreneurs through a pitch (in the video, between the minute 3:10 and 8:20). Although it was finally Aplazame who was the winner of the startup competition in the Fintech sector, the wearable generated a lot of interest among the attendees as can be seen after their intervention.

In one of the questions raised, Nebot explains that the reason why easyGOband's cashless service is integrated with a chip in a wristband is because it can work offline "without relying on the coverage or the battery of the mobile phone", that on the other hand is also linked to an app to be able to recharge or check consumption. Finally, the COO of PaynoPain also clarified that the business model of the tool is based on a commission on the transactions, such as charging the service to the promoter of the event, and not on the recharges of the bracelet for users.