At Money 20/20 Hackathon And Visa Challenge, The SilverLogic Wins Via Smart Cities

In the midst of Money 20/20, hacking abounds — well, hackathons, to be precise.

Visa announced news on Monday (Oct. 23) that the team from The SilverLogic took both the top Visa prize and Money 20/20 grand prize at the annual confab for their OmniPark solution. As part of those victories, the team takes home a prize package from both organizations with several components, among them a $40,000 cash component split among team members and several Visa payment-enabled tech devices ranging from iPhones to Fitbit Ionic wearable devices. Visa also said in the release that The SilverLogic team has an invitation to pitch live at the Money 20/20 Startup City.

As part of the hackathon, the Visa Challenge required competitors to “mash” Visa APIs with third-party APIs, building solutions that targeted connected devices and mobile apps across a theme of the “smart city of tomorrow,” the company revealed in the release.

Visa said that of the 95 teams across the competition, 36 used Visa APIs, and the winner, The SilverLogic (which focused on peer-to-peer sharing and merchant sharing of parking spots), built their application through a combination of Visa Direct and Visa Offers Platform APIs. The OmniPark demo leveraged augmented reality, said Visa.

In a statement, Paul Walsh, SVP of Platform Strategy and Innovation at Visa, said that by “tackling the Visa challenge of reimagining the smart city of tomorrow that is cashless, The SilverLogic pitched a way it could quickly integrate Visa APIs via the Visa Developer Platform into their urban parking solution, OmniPark, to enable secure, seamless payments opportunities for merchants and consumers alike. Visa applauds The SilverLogic, who has a similar vision of ushering in a new era of digital commerce and driving toward a more cashless tomorrow.”