NUTLEY, NJ, March 01, 2014 /24-7PressRelease/ -- Users pay with their smartphone and receive 10% cash back rewards to use for future purchases
StraightPay , an innovative payment and reward application announced its initial product launch to select customers in February 2014, with a complete roll out to the public by the end of March, 2014. The company was founded by 4 business owners in 2013 and received significant financial backing from a private Brooklyn investment group, enabling the company to launch an innovative platform for customers to pay for products and services.
The StraightPay app is simple. A business establishes a StraightPay account, customers download the app and link it to their debit or credit card using Virtual Debit technology. The customer makes a purchase with their smartphone using the app and receives 10% cash back rewards, encouraging them to return to the business for future purchases. The business also uses StraightPay platform to send deals and promotions directly to their customers' smartphones.
StraightPay is also 100% secure. StraightPay secures sensitive customer card data to a secure vault, where it is encrypted and tokenized. The token - not the sensitive card data - is the only thing placed and stored. And customer's credit card numbers are never seen or stored by the merchant, so a credit card breach such as the one that recently occurred at a major retailer would never be possible.
StraightPay was Co-Founded by James Fucetola, Paul Fucetola, Joseph Cerreto and John Apicella. "As business owners, we were determined to find a way to limit credit card fees and Pay It Forward to our customers. With the StraightPay app, we're transferring the fees we previously paid to the credit card companies back to our customers through 10% cash back rewards. It's a win-win for everyone involved."
Paying it Forward : A portion of every purchase made through the StraightPay app goes to The Jason Kidd Foundation, dedicated to improving youth education by helping to provide technology programs as well as tutoring and mentoring services. "I am excited to have The Jason Kidd Foundation chosen as a beneficiary of the StraightPay Paying it Forward program." says Jason Kidd. "We depend on fundraising to keep our programs running and the StraightPay partnership offers us a new avenue to continue to help children succeed."
StraightPay was founded by four small business owners who were simply fed up with the thousands of dollars they were paying every month in credit card fees. With a new generation viewing smartphones as necessity rather than a tool, they set out to find a better way. The StraightPay app is an innovative way for consumers to pay for products and services via a smartphone and a cost-effective way for businesses to implement customized mobile marketing tools and save on credit card fees. StraightPay donates a portion of every purchase to The Jason Kidd Foundation. For more information, please visit http://www.straightpay.com.
About The Jason Kidd Foundation
Established in March of 1999, by former NBA All-Star, current head coach and Olympic Gold Medalist, Jason Kidd, The Jason Kidd Foundation is dedicated to improving youth education by helping to provide the tools needed in the areas of mentoring, tutoring and the technology programs to succeed in life. For more information please visit http://www.JasonKiddFoundation.org.
For more information, please visit http://www.straightpay.com or http://www.JasonKiddFoundation.org.
# # #Read more Press Releases from Alixandra Furjanic: