Mission
iBreva provides a phone based payment and loyalty system to “brick and mortar” retailers and their customers. The iBreva system allows merchants to increase revenue, decrease cost, and improve customer service, while offering their customers
a more convenient way to pay for purchases and participate in loyalty programs. With the iBreva system, a customer can use their existing mobile phone to make payments and participate in new or existing loyalty programs. For programs that consumers choose to participate in, the benefits are automatically accrued every time they use their phone for payment.

Market
iBreva is focused on ‘brick and mortar’ retailers with significant repeat business including grocery stores, club stores, coffee shops, and specialty food stores.
These retailers typically pay fees of one to three percent on credit and debit card transactions. The largest 100 of these retailers had combined revenues of $1.3 trillion
in 2004, on which they paid approximately $10 billion in processing fees. For many retailers, these fees are their fourth largest expense - after merchandise, payroll and facilities related costs – and are equivalent to their profit margins. At the same time, all retailers are looking for ways to increase revenue, loyalty, and customer satisfaction.

Among consumers, debit is the fastest growing choice in the retail payment environment. In 2004, debit accounted for more than 50% of electronic purchases
in the $20 to $100 range. This preference for debit is due in part to a desire by consumers to manage their spending. It is also driven by the move from checks
and cash to electronic payment for lower value transactions. Consumers also appreciate the benefits of loyalty, club, and frequent shopper cards, but they don’t
like the hassle of enrolling in multiple programs, carrying multiple cards, and tracking
multiple reward programs.

Background
iBreva is located in the Silicon Valley and is funded by private and venture
capital investors.