Electronic payments company StraightPay has launched its new official app for businesses that includes a rewards system for customers.
The company has started rolling out the app now and expects to be complete by the end of March. Businesses that are interested in using StraightPay need to sign up for a StraightPay account and get their customers to download the app and link their credit/debit card details with it using Virtual Debit technology.
Customers can then use the app to make purchases via their smartphone and in turn receive a 10 percent cash back reward, which StraightPay says is designed to encourage customers to return to that business.
The business can also use the app to deliver deals and promotional information direct to their customers that have used the app to make a purchase.
“With the StraightPay app, we’re transferring the fees we previously paid to the credit card companies back to our customers through 10 percent cash back rewards. It’s a win-win for everyone involved,” said the company’s founders.
StraightPay has ensured users that the app is secure. “StraightPay secures sensitive customer card data to a secure vault, where it is encrypted and tokenized,” said the company in a statement. “The token – not the sensitive card data – is the only thing placed and stored.”
None of the customer’s credit card numbers are seen or stored by the merchant, unlike the recent Target (News - Alert) credit card hack controversy.
StraightPay was co-founded last year by James Fucetola, Paul Fucetola, Joseph Cerreto, and John Apicella, who say they felt the need to find a better way to make payments through smartphones.
They have also partnered with The Jason Kidd Foundation for the launch of the app with a portion of revenue going to the foundation that runs youth education programs.
Edited by Cassandra Tucker
Back to Mobile Commerce Insider Home