Bestow Payments is a patented peer-to-peer mobile application that utilizes NFC technology to facilitate anonymous transactions and contact sharing with a simple tap. It enables users to make small dollar payments, tips, and donations without exchanging personal information, addressing the need for privacy in cashless transactions.
Funding
$120K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
In today's cashless society, many small transactions, such as tipping, donations, and peer-to-peer payments, still require exchanging personal information or using cumbersome methods. This creates friction and raises privacy concerns for users who prefer the anonymity of cash.
Solution
Bestow Payments is a mobile payment solution that facilitates anonymous, contactless transactions using NFC technology. The platform allows users to send small dollar payments, tips, and donations by simply tapping their mobile device or smartwatch to another device. Bestow eliminates the need to exchange personal details, offering a digital payment method that emulates the simplicity, convenience, and privacy of cash. Payments are transferred instantly and can be received even if the recipient does not have the Bestow app installed initially.
Target Audience
Bestow Payments targets individuals who want a private and frictionless way to make small payments, tips, and donations, as well as service providers and charitable organizations seeking an easier way to receive gratuities and contributions.
Features
- NFC-based contactless payments for iOS and Android devices
- Anonymous transactions without exchanging personal information
- Instant digital transfer of funds
- Widget screen for quick access to payment functionality
- Ability to receive payments without initially installing the app
- Patent-pending technology