Kash is the smart & rewarding alternative to plastic cards and paper money
TORONTO, March 6, 2014 /CNW/ - AvidRetail today introduced Kash, the mobile payment alternative to credit card companies that rewards customers for shopping and reduces a retailer's credit card fees to zero.
"While smartphones have been changing every aspect for our lives, the way we buy things, pay for things, and transfer money has not changed in substantial way since the introduction of the debit card," said Kaz Nejatian, the CEO of AvidRetail, "With Kash, we are using the most transformative thing in our lives, the smartphone, to completely change how we pay retailers, order products, and transfer money to our friends."
Revolutionary Payment App, 1% Cash Back #withKash
Kash is a revolutionary payment app that allows users to pay for their purchases, get 1% cash back, collect e-receipts, receive loyalty points, order products from their phones before visiting a store, and transfer money to their friends without ever having to pay banks fees or apply for a credit card.
"With Kash, when you leave home you don't need to take your wallet, all you need is a drivers license and your phone," said Nejatian, "all the pieces of paper and plastic that used to go into your big, fat wallet can now fit in your phone."
Mobile Shopping, Ordering, Payment, and Fee Avoidance
#withKash, a user can leave her office, order her lunch on her phone on her way to the store, go to the store and pick up, and leave - without ever taking out her wallet or being asked for a receipt. She can keep track of her expenses and transfer money to her friends for her share of a dinner bill.
As of today, Kash's waiting list is open in Canada and the United States. Kash will be delivered to its users on a first come, first served basis in summer of 2014.
Retailers Win #withKash
Kash is not only good for customers, it is also good for retailers. For years, retailers have been complaining about credit card fees. Last year, Canadian Federation of Independent Business (CFIB) (representing over 100,000 Canadian business) and the Competition Bureau took Visa & MasterCard to a tribunal to try to keep rising refit card merchants in check. Dan Kelly, the President of CFIB, said at the time that merchants felt "powerless" in face of big, international companies who had all the power.
#withKash, most merchants pay no transaction fees at all. The most a merchant would pay for Kash transaction is 1%. But again, most merchants would pay no transaction fees at all. That's because Kash does not rely on legacy credit card processing. Kash withdraws money from a customer's bank account and avoids all credit card fees.
"I come from a long line of retailers, I know how hard it is to be a retailer to see 3 or 4% of your bottom line disappear at the end of the day," said Nejatian "at AvidRetail we're committed to making sure that retail is smarter, more intimate, and more profitable."
Kash is a new payment app that will change the way people shop and pay. Kash can be previewed at www.withkash.com and those interested can join a wait list to get Kash. Kash will be available in select North American cities later this year.
AvidRetail is using mobile technology to disrupt payment and retail technology. We're making retail more intimate. We're making it more smarter. To join our team, please visit www.avidretail.com.
For further information:
416-690-5777 ext. 164