NY-based PaidEasy announced a seed round of funding valued at $2 million from a private investor, Ivor Ichikowitz. PaidEasy just launched out of beta this week and plans to use the money to establish a footprint in New York City and its surrounding areas.
Gregg Jackowitz, CEO of PaidEasy, said that the money would go directly into acquiring new merchants, further its technology development and bring on sales and marketing personnel.
With seamless integration into each individual merchants Point of Sale system, PaidEasy gives its users the ability to open, view, split, tip and pay their bills in real-time. PaidEasy will be available at both restaurants and bars to start with plans for other verticals in the hospitality industry for the immediate future.
The key concept that separates PaidEasy from others trying to disrupt the FinTech mobile payments industry is that it does not require any hardware changes or installations. Just an easy upgrade to the merchants existing systems. Jackowitz also says that PaidEasy has the ability to reduce processing fees for its merchants to 1.9% through strategic partnerships it has formed.
For the merchant, PaidEasy offers the ability for them to interact with their customers. They also offer real-time analytics and actionable data. With loyalty and rewards programs built right into the PaidEasy app, users have the ability to search for nearby offers or promotions and have them added right to their bill with a single tap. This in-turn allows establishments to target specific users and send coupons or offers to drive traffic.
PaidEasy has already integrated with Apple Pay, Yelp, Uber and many more. They are integrating everything that a user would need all in one place.
Last month, an article published in various news outlets described PaidEasy as the up-and-coming Uber of the hospitality industry. PaidEasy users no longer have to wait for a check or even open the app. When a user is ready to leave an establishment they can just get up and go as PaidEasy’s proprietary technology knows when a they have left and will auto-close their bill.
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