This post is part of our live coverage of FinovateSpring 2014.
Our next presenter is the team from Digital Retail Apps demoing SelfPay.
SelfPay helps merchants engage each shopper in-aisle, item in hand and on their mobile device. As a shopper nears a store, they’re located via iBeacon and location services – no need to check in or search for an app. SelfPay welcomes the shopper and displays the store’s brands, items, descriptions and pricing. Shoppers can purchase items in-app to take home right away – no more waiting in line just to pay.SelfPay extends the POS to the shopper’s mobile device and purchases are settled with the existing merchant account, posting immediately to the POS. As a wallet aggregator, SelfPay offers a wide choice of payment methods from credit cards to e-wallets. Also included is a patent-pending wireless purchase verification method, SP Verify.
Presenting: Wendy Keith (CEO & Founder), Jakub Ostapinksi (Marketing), and Susan MacKay (Marketing)
Product Launch: May 2014
Metrics: Beta launch retailer recorded 7% sales via SelfPay, official allowance confirmed from USPTO for claims protecting SelfPay IP; less than 10 employees; $500,000 in self-funded capital.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through other fintech companies and platforms, licensed
HQ: Toronto, Ontario, Canada
Founded: March 2012
Website: digitalretailapps.com
Twitter: @digitalretail