BOSTON, MA--(Marketwired - Jul 22, 2013) - PXT Payments, creator and provider of looped in™, a fully electronic payment and consumer incentive system, has integrated with menu24hours.com for acceptance of looped in, one of the fastest growing online restaurant ordering and delivery services in the Boston Metro area.
To kick off the transactions, diners paying for their menu24hours.com order with looped in will get $1 off of their bill automatically. Sergio Oreng, principal of menu24hours.com, is offering this incentive because it benefits both his online marketplace, as well as the individual restaurants, to accept looped in over other payment methods.
"What every online marketplace, and every restaurant wants is to increase customers and keep costs down," said Oreng. "looped in can help me do both, through its partnerships with colleges, access to 18-30-year olds, and ongoing presence at college sporting events. And I really like their connectivity which has essentially created social payments among the consumer, the restaurant, and only one payment system -- looped in. I really believe the value of a five party payment system is limited in the mobile space."
Geolocation-based, PIN-protected looped in offers merchants a flat transaction fee, no additional transaction fees or chargeback costs, free automated rewards programs, and full digital receipts and settlement records. Merchants also benefit from looped in's group purchasing feature. Friends sitting in a dorm room can send their share of the bill to one person's looped in account, and have that friend pay for the order online. Also gone are the days when a group of diners has to throw down multiple cards just to split the bill.
"It's the only payment system that does so much for merchants and consumers," Oreng said. "I don't like credit cards or other payments processors because they cost me more, and they don't offer anything else."
It's a similar story with another mobile wallet, according to Antonio Barros, co-owner of Cambridge restaurant Cinderella, which is a menu24hours client and accepts looped in at the restaurant. "First of all, looped in is less expensive. The other mobile wallet I tried is just a link to credit cards and adds more cost on top of the card fees," he said. "They also don't offer group purchasing, and I can't change the deal myself, or put it on any geolocated map."
looped in shows deals in two places, one on the geolocation map and one in the 'Deals' section. "Restaurants can change their deal, in the looped in app, with a nice graphic, every day if they want, absolutely free. Essentially, these are ads restaurants control themselves," Oreng explained.
"We are excited about our relationship with menu24hours.com because our college student and young professional customers are avid users of online food ordering services, and of restaurants in general," said John Regan, CEO of PXT Payments. "
To use looped in, consumers load funds from their bank, credit, or debit card account into their looped in account, which is done by downloading the free app on an iphone or Android, then clicking on "reload", they are ready to go. They can pay for their purchases, and take advantage of discounts and rewards available exclusively to looped in customers -- discounts from all looped in merchants, not just menu24hours.com restaurants. Please visit http://areyoulooped.in/Consumer/index.php/component/content/article?id=3
ABOUT looped in and PXT Payments:
looped in is a complete electronic payment system with features that strengthen customer loyalty, reduce risk and eliminate the complexities that come with other electronic payment methods. looped in combines the convenience of a mobile application with the simple transparency of a cash transaction while keeping transaction processing costs under control. As a complete payment system, looped in incorporates features for both consumers and merchants. With looped in, consumers can transact both online and in line with PIN-based security, redeem offers as part of a transaction, send friends deals they're not using and instantly send friends money. Merchants can create and manage promotions without the overhead of third-party loyalty programs. Transactions settle through the Automated Clearing House (ACH). Founded in 2004, PXT Payments has been processing electronic payments transactions since 2006.
Menu24hours.com has been serving the food industry for more than 10 years, specializing in a variety of ethnic restaurants. By innovating the food service industry, menu24hours.com gives entrepreneurs many opportunities, including the ability to become incorporated into menu24hours itself by franchise agreement.
Menu24hours.com offers best-of-breed customer service for both restaurants and consumers because it is the motto of menu24hours.com owner Sergio Oreng to become personally involved in any issue. Please visit menu24hours.com
SOCIAL MEDIA FOR LOOPED IN
Hashtags: #loopedin #getloopedin #payeasy #paysafe #areyouloopedin #wearebc
- Professional Services
- Consumer Discretionary
- payment system