(MENAFN- EIN Presswire)
PayTile works with businesses to offer rewards at specific locations and times
Anu Vora, CEO PayTile
The PayTile mobile app uses a proprietary geolocation and proximity technology to deliver cashless payments and digital rewards to users.
I'm thrilled to launch this technology in Cincinnati, my hometown. PayTile offers companies a new way to engage and delight their customers - the potential uses are endless.” — Anu Vora, CEO - PayTileCINCINNATI, OH, UNITED STATES, August 11, 2022 /EINPresswire.com / -- PayTile is a breakthrough solution that replaces consumers' need for cash, enables businesses to incentivize foot traffic, and offers location-specific customer engagement opportunities for companies and organizations. This technology has launched in the Greater Cincinnati and Northern Kentucky area, with rapid expansion planned across other US markets.
According to Travis Credit Union's 2020 survey, only 16% of Americans always carry cash in their wallets. Not surprisingly, younger people are less likely to carry cash than older consumers. The pandemic has only served to accelerate consumers' migration away from cash. But because of credit card transaction fees and chargebacks, some service providers and small businesses still operate on a cash-only basis. As a result, consumers continue to need cash for small purchases or to leave tips.
However, all person-to-person (P2P) payment apps used today require both parties in a transaction to share information with one another (phone number, email, and/or full legal name). Additionally, one of the most common mobile payment mobile apps has public sharing as a default setting, exposing users' transactions to their social network. All this means that existing payment apps are poorly suited for use to pay strangers.
PayTile is As Private As Cash and As Secure As A Card -
PayTile enables users to make private, secure, cashless payments to people nearby, without sharing their personal details. Sending money on PayTile is like an AirDrop® for cash*. Unlike other payment apps, PayTile payment transfers do not require users to“connect” via phone or email, and Personal Identifiable Information (PII) is not shared. Now with PayTile, users can tip the valet, pay for purchases at a farmers market, or buy lunch from a food truck - all without cash. By limiting payments to people and businesses who are nearby, PayTile makes payments intuitive and safe.
Businesses Can Use PayTile to Drive Foot Traffic & Engage with Their Consumers -
Using PayTile's proprietary“Drop” technology, businesses can deliver cash, coupons, or other digital rewards to customers within a particular geographic area, at a specific date and time. With the Drop feature of PayTile, businesses can incentivize consumers to be in the right place at the right time.
PayTile is Cincinnati's first consumer payments technology company and is founded and led by Anu Vora. Anu also spearheads Candid Ventures, a venture studio investing primarily in tech start-ups run by women and diverse founders. She serves as a Board Member of Cintrifuse, a Cincinnati-based regional innovation network designed to successfully launch high-growth startups.
“PayTile is a real game-changer for consumers and businesses. I'm thrilled to launch this technology in Cincinnati, my hometown,” said PayTile CEO, Anu Vora.“PayTile frees people from the inconvenience of having to carry cash while preserving privacy and security. And, it offers companies and organizations a new way to engage and delight their customers - the potential use cases are endless.”
PayTile is available for download on all mobile devices from the Apple App store and Google Play .
*AirDrop® is a registered trademark of Apple Inc.
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About PayTile
PayTile is a fintech company specializing in delivering secure proximity-based money payments as well as non-monetary transactions. By leveraging location and proximity information, PayTile delivers secure cashless payments and enables location-based perks for its users. PayTile is funded by Candid Ventures, a venture studio that backs technology start-ups led by women and people of color. PayTile is backed by Cross River Bank, a technology-driven financial services organization that provides core infrastructure and embedded financial solutions.
Learn more at paytile.com.
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PayTile
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