Israeli startup BuyCode Inc. has introduced the Pounce mobile payment app, allowing consumers to purchase products they see in print through image recognition technology.
Pounce, an iPhone app, enables consumers to scan printed images with a smartphone camera and then purchase the items with one-click. Consumer billing and shipping information is securely stored within the app.
"Print media is a great shopping tool for consumers, but it comes with a time-delay between the initial intent and the actual transaction," says Avital Yachin, founder and CEO of Pounce, in an Aug. 13 press release. "Pounce removes that interruption, empowering consumers with the option to purchase a product right then and there."
BuyCode is working with Target, Staples, Ace Hardware, Toys "R" Us and Babies "R" Us for its launch. The technology integrates with merchant's online stores to use its existing checkout method. BuyCode also measures the performance of print advertisements for merchants.
The concept is reminiscent of a 2006 PayPal initiative that asked consumers to purchase items from magazines by sending a text message with a code that was printed in the ad. In its use of photos, Pounce also resembles Slyce, which envisions users making purchases of items they photograph in the world around them.