Evina secures mobile payments for telecom operators

A new FinTech has just raised funds in France. This time it is Evina, a specialist in securing mobile payments. The interest it has aroused reveals the importance of this issue, as consumer and payment habits are currently undergoing a profound revolution.

FACTS

• Evina is a French start-up offering telecom operators the ability to identify and neutralise fraud risks related to mobile payment transactions.

• It claims to have prevented nearly 200 million false transactions and saved more than €1 billion in the last 12 months of its activity, thanks to a fraud detection rate estimated at 99.94%.

• Among its forty or so clients are leading operators such as Orange, Bouygues Telecom and Vodafone.

• It has just raised €20 million in funding, with the ambition of strengthening its security offer for all operations debited directly from telecom bills:

  • payment services via a SIM card,

  • in-app payments,

  • subscriptions to streaming services,

  • withdrawal and money transfer services.

• Its investors include the New York fund Radian Capital, 50 partners, SaaS Partners and Id4 ventures.

CHALLENGES

• Supporting a new model: Known as "direct carrier billing", the market for direct billing via telecom operator customer invoices is growing very fast: nearly 20% of global digital content purchases go through telecoms, according to a study by Juniper Research, compared to 68.5% for credit cards. It will be worth more than 40 billion dollars by 2021.

• Gaining recognition: Evina has been operating since 2018 but had remained away from the limelight and the media since its launch. By raising new funds, it is now attracting the spotlight to accelerate its deployment. It plans to use its new funds to open new offices abroad and strengthen its R&D team.

MARKET PERSPECTIVE

• Evina currently secures over 16 million transactions every day in nearly 70 countries. The company already generates more than 80% of its turnover outside France and is thus logically planning to establish itself as an international reference.

• In addition, more than 2,500 billion dollars pass through operators' electronic wallets, an amount that is expected to double in the next five years.