It seems like everyone is getting into the mobile payments business, with companies like Square, Google, and even cell phone providers like Sprint offering applications that allow users to pay for products without having to use cash or pull out their credit cards. The latest mobile payment app to hit the market is GoPago, and it’s attempting to make a huge splash in the industry for both customers and business owners.
Never wait in line again!
GoPago allows consumers to order and pay for products and services from participating stores and restaurants directly from the application, which is available for free on Android, Blackberry, and iOS devices. This can be a huge time saver for customers. For example, if you wanted to go to a sandwich shop, you could order your meal and pay for it before you leave your house, so by the time you get to the restaurant, your food and table will be ready and waiting for you. It essentially allows you to completely skip the lines at participating locations.
Customers simply have to download the application, find the participating businesses within the directory, add products to their in-app shopping carts, and enter their payment information when they check out. GoPago then interfaces with the business’s computer system and sends the order. Once the business receives the order, customers are given a confirmation message with an approximate wait time. To claim the order, you just need to show the cashier the digital receipt within the GoPago application. Regular customers also have the option to save their orders within the app so they don’t have to manually enter it every time they want to order. It really couldn’t be simpler.
Easy for businesses
While most mobile payment applications are designed first and foremost to make the payment process easier for the consumer, GoPago takes care to make the entire process simple for participating businesses, too. The application supports any type of business, from dry cleaners to barber shops – if you sell products or services, you can use the GoPago system. The company has set up an extensive backend system that allows businesses to quickly and easily interface their existing point-of-sale (POS) systems with the GoPago payment system. Currently, GoPago can be integrated into approximately 80% of the POS systems currently on the market.
Business owners must register their businesses on the GoPago Website. They can then create a profile within the GoPago system in about an hour, adding products, services, and prices, as well as creating a unique look that fits with their professional branding. Once the profile goes live, the business can use the application to send out coupons, notify customers of upcoming deals and specials, and even set up a rewards system for regulars. The process makes ordering simple for the customer, and saves time for the staff.
Businesses can try GoPago for free for the first month. After that, they will be charged $29 per month in service fees plus 5% of each transaction. However, the first $100 of transactions will be processed for free. Earnings will be deposited in the bank the next day.
GoPago has launched its payment system in hundreds of stores and restaurants in San Francisco and Las Vegas, and plans to roll out the service in Dallas, Chicago, and New York by the end of the year.
Welcome to the Future!
GoPago is only the latest company to enter the mobile payments system, and is sure to face some steep competition from the likes of Internet giants like PayPal and Google, as well as from similar startups like Square and PayDragon. The biggest difference between GoPago and most of these companies, however, is that GoPago can immediately be integrated into the vast majority of the point-of-sale systems in businesses today. Other companies, such as Google, with its Wallet application require the use of near-field communication technologies that require significant upgrades to existing POS hardware.
With so much competition in the field, GoPago will have to keep adding features and enticing businesses to use its platform, but make no mistake: GoPago-type applications are the future. The amount of competition in this area by both startup companies and established industry leaders only proves that the technology is poised to take off soon, and GoPago is has laid the groundwork to become a leader in the mobile payments market.
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