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PXT Payments, creator and provider of looped in, an electronic payment and consumer incentive system, has integrated with menu24hours.com for acceptance of looped in.
Menu24hours.com is an online restaurant ordering and delivery services website in the Boston Metro area.
To mark the partnership, diners paying for their menu24hours.com order with looped in will get $1 off of their bill automatically.
Sergio Oreng, principal of menu24hours.com, says he 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," Oreng said. "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."
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 have access to looped in's group purchasing feature. For example, friends can send their share of the bill to one person's looped in account, and have that friend pay for the order online.
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 said.
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.
Read more about mobile initiatives.