Today, LISNR®, the global leader in ultrasonic data transmission, announced a strategic investment by Visa, the world’s leader in digital payments. The investment further bolsters Visa’s confidence in LISNR and their growth in touchless payments and authentication. This capital raise is a follow up to Visa’s original 2019 investment in LISNR and comes alongside a growing relationship between LISNR and Visa.
LISNR’s ultrasonic data-over-audio technology enables proximity verification and touchless transactions for merchants, financial service providers and mobility companies. LISNR’s technology integrates seamlessly in today’s omni-channel world, including curbside pickup, scan, pay and go, point-of-sale, and on-demand platforms.
“The pandemic has accelerated the need for safe and secure authentication solutions at a distance,” said Eric Allen, CEO, LISNR. “LISNR’s contactless, data-over-audio technology, is proving to be an invaluable solution to an authentication problem across many different commerce experiences. The incumbent market solution, the QR code, has seen its adoption spike as it is expected to surpass $4.4 trillion processed in 2020. The fact that we can do what a QR code does at regulated, safe distances leaves us in a very promising position to go after that growing addressable market.”
“Our partnership with LISNR dates back to 2015 and continues to evolve,” said Kevin Jacques, Vice President, Visa Ventures. “Visa’s investment in LISNR is consistent with our broader global strategy to partner with and invest in companies that provide critical infrastructure for securely and seamlessly accepting digital payments. The COVID-19 pandemic has accelerated demand from companies to introduce touchless authentication, fulfilment and checkout experiences, and LISNR’s unique technology is well positioned for the increase in touchless payments globally by consumers looking to minimize contact interactions at the point-of-sale.”
In 2015, LISNR became one of three startups to win the Visa Everywhere Initiative, a global innovation program that tasks start-ups to solve commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners. Visa’s latest investment in LISNR will foster further collaboration between the companies toward the increased adoption of touchless payments and authentication in today’s omni-channel world.