BOSTON, MA — (Marketwire) — 09/26/12 — PXT Payments, a mobile payment app and digital wallet provider, will offer students and merchants its full featured, geolocation-based mobile payment app, looped in, this weekend at College Day at the Fenway. looped in will share its booth with Harvard Student Agencies, and host products for select merchants at this convention that draws more than 10,000 college students in the Boston Metro area.
PIN protected looped in is safer than cash, debit, or credit cards, is completely free, assures that lines at merchants and venues such as Agganis arena move faster, offers instant and ongoing rewards for students, and makes paying for anything as easy as texting. Users can even send each other pictures and text with money in seconds.
Like an ATM on your phone, geolocation-based looped in ups the ante for all mobile payment systems and the user-merchant experience. For consumers, it-s the payment app that does everything, all for free. It-s a full wallet, with seamless payments from an app, not a gimmick replacement for credit card processing. Consumers can transact both online and offline with PIN security, redeem offers as part of a transaction, and send friends deals they-re not using. For merchants, there is no need for any new hardware. The merchant app works on any smart phone, iPod touch, or computer, integrates with POS systems, and settles through the ACH.
One of the first rewards is that College Day at the Fenway attendees who come to the looped in booth, then download and load the app, get a raffle ticket for a free iPad. Also at the looped in booth, students can let the pay-by-phone experience begin:
Spin the wheel of fortune and get money beamed to your phone, buy clothes at a discount from SneakerBox and Kush Groove Clothing. Learn about your new college city with Guide to Life at Harvard and Guide to Life in Boston student-tailored books and their new mobile app versions. Or get your hands on a Memory on Hand memory stick bracelet and discount “digital” coupons for menu24hours.com restaurants. Plus attendees who text the word “looped” to 20122, and then activate the app, are automatically eligible for a $300 raffle prize.
“Harvard Student Agencies is excited about the power looped in will ultimately give us to make the mobile payment app versions of our guide books interactive, and capable of online secure payments,” said Sarina Patterson, managing director, Harvard Student Agencies Marketing. “These books are for students, with reviews conducted by impartial students, and to make that book interactive is exactly the sort of innovation that empowers students.”
To use looped in, consumers simply download the app onto any iPhone or Android, instantly load money, and then start acting like they have money stored right in an app. Aside from paying at 100s of merchants and restaurants, looped in app users can send money to any friend or family member in the United States, in less than 10 seconds, absolutely free — just by keying in their friend-s phone number. It-s like texting, plus your money.
Consumers can also pool money, online or offline. Instead of throwing down four debit cards at a restaurant to pay, three friends simply send money to the fourth friend-s looped in app — by keying in their phone number and hitting send inside the app. Pooling money online revolutionizes consumer ability to collectively make shopping cart purchases. Have four students in a dorm room who want to order in food from online delivery services such as looped in partner menu24hours.com? They can send money to one person-s phone. Then that person keys in their phone number in the shopping cart. Never before have groups of people been able to group-shop online. So if there-s a buy one get one free situation, or bulk discounts, consumers can now take advantage of it online.
“Mobile usage is growing and we know that consumers will likely begin to gravitate towards mobile payment options. We chose looped in because of its secure payment features and social media capabilities,” said Brett Miller, owner of Northeastern University-based Wollaston-s Grocer. “We are excited to be part of the student and merchant community effort to make our relationship more interactive.”
Consumers can move money in and out of their looped in account from checking, credit card, or PayPal accounts. It-s all for free; no PayPal or card load fees in this introductory offer. Unique to mobile payments, when money is loaded into a looped in account, there is absolutely no personal data or banking data stored, captured, or sent. Please visit
Contact:
Rivka Tadjer
Chief Marketing Officer
looped in
914-466-5976
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