Earlier in November, fintech event Money20/20 held a hackathon with 450 participants, hundreds of projects and 10 winners who won total $125,000 in prize money.
The Money20/20 Hackathon took place on Saturday-Sunday, November 1-2, with challenges to develop a variety of FinTech applications using APIs, SDKs and other tools presented by the following sponsoring companies: Bionym, Blockchain.info, Chain.com, Feedzai, Intuit, MasterCard, Mercury Payment Systems (a Vantiv company), ModoPayments and PayPal. FinTech growth equity firm Oak HC/FT also sponsored the Money20/20 Hackathon.
More than 450 developers, designers and entrepreneurs from across the globe competed in teams of one to five members during the 24-hour competition, and completed over 100 projects. Participants ranged in age from 15 to 56 and traveled to the hackathon in Las Vegas from as far away as Taiwan and New Zealand.
Each of the following five winning teams claimed a $20,000 prize:
- Bacon Bacon
Each of the following five winning teams claimed a $5,000 prize:
- Bitcoin Bookie
- Kill Bill
PayperLess, this year’s grand prize winner, earned the opportunity to participate in Money20/20’s exclusive Launchpad360, a program that provides companies with a forum to showcase leading-edge innovations in front of a large audience of investors, media and other ecosystem participants. PayperLess’s three-member team–Aldo Briano, Veronica Borges and Eduardo Medina–utilized Mercury’s StoreCard infrastructure API to enable consumers to pay local merchants using bitcoin without any changes to existing infrastructure and business processes. The PayperLess team presented as part of Launchpad360 on Wednesday, November 5, and met with significant industry praise and interest.
Aldo Briano of PayperLess said: “We are extremely honored to win this award, especially with all the excellent technology and talent displayed at the Hackathon. Our solution will enable merchants to accept a bitcoin payment as easily as accepting a payment through a gift card and we see this as the future of payments. We were thrilled to present PayperLess at Launchpad360 as well as with the audience engagement.”
“Mercury is proud to lend its support to the Money20/20 Hackathon,” said Matt Ozvat, vice president of developer integrations at Mercury, a Vantiv company. “Mercury is a technology platform that fosters and enables solutions that can solve merchant and consumer problems. We were impressed by the ability of PayperLess to develop an innovation on top of our StoreCard prepaid product. Their solution innovated in a way we didn’t think possible in such a short timeframe, and moreso we were impressed by the ease with which their technology can be adopted by merchants.”
According to Simran R. Aggarwal, co-founder and president of Money20/20: “Participants at this year’s inaugural Money20/20 Hackathon showed outstanding levels of innovation and ingenuity in creating solutions that have the power to be truly disruptive to the payments industry. We are proud to offer the ability for participants to showcase their products and look forward to following their future success.”