NeoMedia Technologies, Inc (NEOM)

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08/03:SCANBUY and Barcode Scanning Software

http://www.scanbuy.com/

XR23 Channel: "Big Picture" / Electronics

Scanbuy and Barcode Scanning Software

For years, barcodes have served as vital tools for tracking inventory, checking prices and identifying items. And because they are used worldwide, they have become the universal coding language for most retail products. The simple technology of the barcode has functioned at the business level for decades. Harnessing this technology at the consumer level, however, has not been possible on a grand scale until now.

Headed by Olivier Attia, Scanbuy, Inc. develops technology that provides mobile phones and other wireless devices with the ability to capture and decode the ever-present barcode. Their Optical Intelligence™ software transforms any camera phone into a personal barcode scanner by allowing the immediate processing of the barcode in a swift and cost effective manner. The software, which fits easily into a camera phone, PDA, or webcam, decodes and processes the information and provides users with multiple contents related to that code.

A consumer with a Scanbuy-equipped phone could theoretically walk into a store, scan a product they are interested in, and then through the phone’s internet connection, gain access to a complete list of the same product’s availability and price variations at other retailers. Users can also download music samples, view movie trailers and sample the content of an item before deciding to make a purchase.

“It is the ultimate tool for comparison and smarter shopping. Your camera phone can become a personal, wireless, and interactive barcode scanner for less than half the price of traditional laser-based scanning equipment,” says Attia. “This software links the physical world to the internet through the use of basic barcode technology. It helps businesses sell more products, and it also helps educate consumers, increasing the chances that they will be satisfied with their purchase and less likely to make a return.”

On the surface, comparison shopping seems like the most obvious employment of the Scanbuy software, but its mobile commerce applications are limitless. Items like concert tickets or clothes can be purchased instantly. Challenging obstacles like tedious data entry and poor navigation can be sidestepped with one easy scan. Business cards embedded with barcodes, for example, can be swiped and stored in a fraction of the time it would take to manually input that information to a PDA. In fact, Scanbuy offers users a free option for coding their business cards at scanpeople.com.

Consumers aren’t the only ones that will benefit from the Scanbuy technology. Businesses can reduce costs by replacing expensive scanners with cheaper scan-ready phones. Inventory management can be centralized, and field and sales forces can become more automated. There are even security applications – government officials can utilize the software to scan driver’s licenses and other forms of identification at important checkpoints.

Named by Fortune Magazine as one of their Top 25 Breakout Companies of 2005, Scanbuy is set to revolutionize the world of handset interactivity. Several manufacturers are expected to launch Scanbuy technology at the end of this year. Attia expects between 50 and 70 million devices to initially enter the marketplace, with many more to debut in the years to come.

“The beauty of this technology is that it is simple and easy to use. The world becomes your showroom with just one simple swipe,” he says. “We believe that we’re going to change people and the way they shop and do business. It’s a very exciting time for mobile commerce.”