This startup develops online payment software that enables consumers to make cash payments for e-commerce transactions through its patent-pending technology. By digitizing cash payments, the company addresses the challenge of providing a secure and convenient payment option for consumers who prefer not to use traditional banking methods.
Funding
$400K 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
Many consumers, including budgeters, the unbanked, and those concerned about online fraud or privacy, prefer or need to use cash for transactions, but lack a convenient and secure way to use cash for online purchases. This limits their access to e-commerce and creates a barrier for retailers seeking to serve this customer segment.
Solution
Kasssh provides a fully automated service that enables consumers to pay for online purchases with cash at over 28,000 locations. At checkout, customers select Kasssh as their payment method and receive a unique barcode via email. They then take this barcode to a participating PayPoint location (supermarket, petrol station, newsagent, etc.), scan the barcode, and deposit the cash payment. Kasssh then instantly notifies the e-commerce retailer to process the order. This allows retailers to expand their customer base by offering a secure and familiar payment option to cash-preferring customers, without requiring any new back-office integrations.
Target Audience
The primary target audience includes e-commerce businesses looking to expand their customer base by offering a cash payment option, as well as consumers who prefer to pay with cash due to budgeting preferences, lack of bank accounts, or concerns about online security.
Features
- Generates a unique Kasssh barcode for each online purchase
- Integrates with existing e-commerce platforms via apps like Shopify and BigCommerce
- Provides access to over 28,000 PayPoint locations for cash payments
- Offers a retail cash-out process for refunds
- Notifies the retailer in real-time once cash payment is received
- Leverages MonavateOne platform for BIN sponsorship, fraud prevention, and real-time authorization