Smartphones are the trend of today. However, we still have to find an achiever when it comes to mobile payments. Getting your phone to play the role of your wallet too is a good experience but the question of whether consumers have gotten themselves comfortable with the idea is still debatable. Even then, this is something that every credit card company, carrier and software giant has been working to develop.
On the other hand, we have the Boston based startup LevelUp that has been working on positioning itself in manner that allows itself to survive amidst any technology or system, whether NFC or QR codes. For this, it first aims to free all customers from the barriers that stop them from wanting to use their phone in purchasing from local markets. And for this it thinks of working on a payment agnostic solution.
The startup’s latest hardware has in fact greatly helped merchants by getting the transaction of swipe fees eliminated and getting NFC payments supported. Merchants are in this way saved from the loss of $50 billion every year. In this way, friction has been reduced thus helping both the merchant and customer.
The startup has in fact been of use to over five thousand merchants till now and has crossed a user milestone of over a million. It has made mobile payments that have come up to over a fifty million till date.
The startup has recently launched a white label tool letting businesses get their apps maintained. The first of its kind was Sweetgreen which was first used in AppStore’s food category and was “the second most popular payment type at their locations, just behind Visa.” as reported by Techcrunch.
The startup has been actively working on its development of national distribution with white label functionality and local merchants. Its aim is to get a variety of apps powered and fed and become a platform for apps and their mobile technology.