Company:Kuapay
| Type | Private |
|---|---|
| Industry | Mobile payments |
| Founder | Joaquín Ayuso de Pául |
| Headquarters | Santa Monica, California , |
Area served | Santa Monica, California New York City Santiago Chile Madrid, Spain |
Kuapay is a defunct Santa Monica, California-based payment service provider that combined a digital wallet and mobile payments. The company developed one of the first foreign third-party payment apps to go live in China , and was reportedly the official mobile payments provider in Chile .[1]
History
The company was founded by Joaquín Ayuso de Pául, who previously created and sold Tuenti, a Spanish social networking site.
Kuapay's seed round collected $900,000, launching in 2011.[2] The company received a $4 million investment in 2012 from a single funder.[3][4]
By 2013, Kuapay was used by over 600 merchants in the United States .[5]
Availability
Kuapay was available both in the U.S. and internationally with significant merchant adoption in Santa Monica, California, New York City , Chile , Spain , Colombia, Panama, and the United Kingdom , with trials including franchises such as KFC, and Telepizza.[6][7][8]
Functionality
The Kuapay system allowed consumers to present a one-time QR code to a merchant, authorize a purchase, and receive a receipt. Credit card information was not transmitted in the QR code, increasing safety. The system also included location-based coupons and loyalty marketing.[2][6] This one-time mechanism increased security over presenting a credit card number.[9]
Offices
The company was based in Santa Monica, California with offices in New York City , Santiago, Chile, and Madrid, Spain.[10]
References
- ↑ Fernholz, Tim (2018-05-18). "KuaPay is banking on China to fatten its share of the mobile wallet market". Quartz. https://qz.com/111495/kuapay-is-banking-on-china-to-fatten-its-share-of-the-mobile-wallet-market/. Retrieved 2018-06-08.
- ↑ 2.0 2.1 Ohngren, Kara (2011-12-01). "Will This Payment App Make You Ditch Your Wallet?". Entrepreneur. http://www.entrepreneur.com/article/220732. Retrieved 17 June 2013.
- ↑ Simon, Geoff (31 August 2012). "Kuapay Gets $4Mil, Expands Mobile Payments to NYC". Technorati. http://technorati.com/business/article/kuapay-gets-4mil-expands-mobile-payments/. Retrieved 17 June 2013.
- ↑ Perez, Sarah (27 June 2012). "Mobile Payments Startup Kuapay Grabs $4 Million Investment, Readies Global Expansion". TechCrunch. https://techcrunch.com/2012/06/27/mobile-payments-startup-kuapay-grabs-4-million-investment-readies-global-expansion/. Retrieved 17 June 2013.
- ↑ Jarvey, Natalie (7 June 2013). "Kuapay Updates Mobile Wallet Features". Los Angeles Business Journal. http://labusinessjournal.com/news/2013/jun/07/kuapay-updates-mobile-wallet-features/. Retrieved 17 June 2013.
- ↑ 6.0 6.1 Van Grove, Jennifer (15 August 2011). "Kuapay Lets Mobile Users Pay With QR Codes". Mashable. http://mashable.com/2011/08/15/kuapay/. Retrieved 17 June 2013.
- ↑ Perez, Sarah (5 June 2013). "Mobile Wallet Kuapay Gets An Upgrade, Reaches 600 Locations Through Trials With KFC & Others". TechCrunch. https://techcrunch.com/2013/06/05/mobile-wallet-kuapay-gets-an-upgrade-reaches-600-locations-through-trials-with-kfc-others/. Retrieved 17 June 2013.
- ↑ "Telepizza adopta la tecnología de pagos móviles de Kuapay" (in Spanish). ABC.es. 10 June 2013. http://www.abc.es/tecnologia/redes/20130610/abci-kuapay-telepizza-pago-movil-201306101128.html. Retrieved 17 June 2013.
- ↑ Wakoba, Sam (6 June 2013). "Mobile Wallet Solution Kuapay Unveils New Interface & Features For User Security". TechZulu.com. http://techzulu.com/mobile-wallet-solution-kuapay-unveils-new-interface-features-for-user-security/. Retrieved 17 June 2013.
- ↑ "Mobile Payments Startup Kuapay Grabs $4 Million Investment, Readies Global Expansion". TechCrunch. https://techcrunch.com/2012/06/27/mobile-payments-startup-kuapay-grabs-4-million-investment-readies-global-expansion/.
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