Imagine you could pay for anything with your phone — online, in stores, contactless — even if you don't have a traditional bank account. That's what VIMpay built: a single app that consolidates card payments and SEPA bank transfers into one tool, working across all of Europe's payment zone. Think of it as a universal wallet on your smartphone that plugs into payment systems that already exist, so no shop needs to buy new hardware.
Millions of Europeans still can't participate in cashless payments because they lack traditional bank accounts or the right payment cards. At the same time, merchants juggle multiple payment systems — card terminals, online gateways, SEPA transfers — each with separate infrastructure and fees. There's no single mobile solution that works for everyone across the entire European payment zone.
A mobile payment app (VIMpay) released in 4 successive versions across Android, iOS, and potentially Microsoft stores. The final V4 was a Ready to Market (RTM) release supporting contactless payments, card-based payments, and SEPA transfers — all without requiring users to have a bank account.
If you are a retailer struggling to serve customers who lack traditional bank cards — this project developed a mobile payment app across 4 versions (V1 through V4 RTM) that lets any smartphone user pay contactlessly or online using existing payment infrastructure. No new hardware needed at the point of sale.
If you are a fintech company looking to reach unbanked or underbanked populations across Europe — VIMpay built a bank-independent payment solution covering both card-based and SEPA payments. The app was published on Android, iOS, and potentially Microsoft stores, demonstrating cross-platform readiness with 21 deliverables completed.
If you are a platform operator dealing with freelancers or workers who lack traditional banking — VIMpay developed a solution that enables cashless payments without requiring a bank account. Built on open, established standards, it can integrate with existing payment infrastructure to serve your entire user base across the SEPA region.
Based on available project data, specific licensing or integration costs are not disclosed. The project received EUR 1,165,325 in EU funding under the SME-2 instrument, which targets close-to-market innovations. Pricing would need to be discussed directly with petaFuel GmbH.
The solution was designed from the start for the entire SEPA payment area, covering all EU member states and associated countries. The RTM (Ready to Market) version V4 was published across Android, iOS, and potentially Microsoft stores, indicating infrastructure readiness for broad deployment.
The IP is held by petaFuel GmbH, the sole consortium partner and an SME based in Germany. As a 100% industry consortium with 1 partner, all intellectual property decisions rest with petaFuel. Licensing terms would need direct negotiation.
VIMpay was built on open and already established payment standards, supporting both card-based payments (contactless and contact-based) and SEPA transfers. Based on available project data, compliance with PSD2 and current regulations would need to be confirmed with petaFuel, as the regulatory landscape has evolved since the project ended in 2016.
The project ran from August 2015 to December 2016 — roughly 17 months. During that time, 4 app versions were released sequentially, with V4 being the RTM (Ready to Market) version. petaFuel had already established payment infrastructure and proof-of-concepts before the project started.
A core design principle was that VIMpay requires no additional payment infrastructure — it works with already established standards. This means integration with existing contactless terminals and online payment gateways should be feasible without hardware changes on the merchant side.
This is a single-company project: petaFuel GmbH, a German SME that is both the sole partner and coordinator. With 100% industry composition and no academic or research partners, this is a purely commercial venture. The company had already built payment infrastructure and proof-of-concepts before securing EUR 1,165,325 in SME-2 funding — a scheme specifically designed for innovations close to market. For a business buyer, this means you're dealing directly with the technology owner, with no complex multi-partner IP arrangements to navigate. The downside is the lack of independent academic validation.
petaFuel GmbH (Germany) — contact via SciTransfer for introduction
Want to explore VIMpay's payment technology for your business? SciTransfer can arrange a direct introduction to the petaFuel team and help you evaluate fit.
