Following the announcement of an estimated $30 million investment round, London FinTech Super Payments has established a wait for users to use its cash back app prior to its official debut.
Samir Desai, the former CEO and co-founder of Funding Circle, formed Super Payments at the beginning of this year with the goal of taking on well-known players in the payments industry like Visa and Mastercard.
According to Desai, “we think that consumers and companies have been hurt for far too long by high costs on the internet by payment and digital advertising providers.”
Essentially, it is an online tax. We can all agree to change it if we don’t like it.
In the report, Desai stated, “We provide free online payments to businesses for life and instant cashback for customers. Super only makes money if consumers save money and businesses increase their sales. We completely agree with you and are obsessed with our customers. When the profits of payment and advertising companies are given back to companies and customers, everyone wins.
Although the start-up has not yet announced an official launch date, the Super Payments websites for individuals and businesses are both fully functional. Anyone who joins the shopper waiting receives a five pound (about six dollars) bonus. For further information, businesses have the option to consult an expert.
Super Payments plans to compete with the big card companies as well as Google and Facebook by letting companies choose the commission they want to pay for client acquisition efforts.
The company stated on its website for businesses that “we realize getting clients online is hard and expensive, generally costing 15% to 30% using the standard digital marketing channels.” “Super provides a more equitable method to attract clients and boost sales.”
