Kuapay

Kuapay is a payment service provider that combines digital wallet and mobile payments. The company is based in Santa Monica, California with offices in New York City, Santiago, Chile, and Madrid, Spain.

The Kuapay system allows consumers to present a one-time QR code to a merchant, authorize a purchase, and receive a receipt. Credit card information is not transmitted in the QR code, increasing safety. The system also includes location-based coupons and loyalty marketing.[1][2] This one-time mechanism increases security over presenting a credit card number.[3]

The company was founded by Joaquín Ayuso de Pául, who previously created and sold Tuenti, a Spanish social networking site. Kuapay is 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.[2][4][5]

Kuapay's seed round collected $900,000, launching in 2011.[1] The company received a $4 million investment in 2012 from a single funder.[6][7]

By 2013, Kuapay is used by over 600 merchants in the United States.[8]

References

  1. 1 2 Ohngren, Kara (2011-12-01). "Will This Payment App Make You Ditch Your Wallet?". Entrepreneur. Retrieved 17 June 2013.
  2. 1 2 Van Grove, Jennifer (15 August 2011). "Kuapay Lets Mobile Users Pay With QR Codes". Mashable. Retrieved 17 June 2013.
  3. ↑ Wakoba, Sam (6 June 2013). "Mobile Wallet Solution Kuapay Unveils New Interface & Features For User Security". TechZulu. Retrieved 17 June 2013.
  4. ↑ Perez, Sarah (5 June 2013). "Mobile Wallet Kuapay Gets An Upgrade, Reaches 600 Locations Through Trials With KFC & Others". TechCrunch. Retrieved 17 June 2013.
  5. ↑ "Telepizza adopta la tecnología de pagos móviles de Kuapay". ABC.es (in Spanish). 10 June 2013. Retrieved 17 June 2013.
  6. ↑ Simon, Geoff (31 August 2012). "Kuapay Gets $4Mil, Expands Mobile Payments to NYC". Technorati. Retrieved 17 June 2013.
  7. ↑ Perez, Sarah (27 June 2012). "Mobile Payments Startup Kuapay Grabs $4 Million Investment, Readies Global Expansion". TechCrunch. Retrieved 17 June 2013.
  8. ↑ Jarvey, Natalie (7 June 2013). "Kuapay Updates Mobile Wallet Features". Los Angeles Business Journal. Retrieved 17 June 2013.

External links

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