Overlay Payments is a mobile application that enhances traditional tap-to-pay systems by integrating automatic loyalty rewards, itemized digital receipts, and subscription management within a secure payment framework. This technology addresses the inefficiencies of paper receipts and fragmented loyalty programs, streamlining transactions for both consumers and retailers.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional tap-to-pay systems lack integrated loyalty programs and generate paper receipts, creating inefficiencies for both consumers and retailers. Managing subscriptions and resolving transaction disputes can also be cumbersome with existing payment methods.
Solution
Overlay Payments enhances tap-to-pay by automatically integrating loyalty rewards, itemized digital receipts, and subscription management into a secure payment framework. When a customer taps to pay, the system automatically applies relevant loyalty stamps or discounts. Digital receipts are generated for each purchase, eliminating paper waste and simplifying expense tracking. Retailers can offer subscription memberships that customers can access with the same tap-to-pay method. The platform also includes a dispute management system to resolve incorrect charges smoothly.
Target Audience
Overlay Payments targets consumers seeking a more convenient and rewarding payment experience, as well as retailers looking to streamline transactions, enhance customer loyalty, and reduce paper waste.
Features
- Automatic loyalty program integration triggered by customer tap
- Itemized digital receipts for each transaction
- Subscription management for retailers and customers
- BLE beacon integration for automatic check-in at trusted shops
- Hands-free payment option for regular customers at trusted shops
- Dispute management system for resolving incorrect charges
- API for retailers to manage and process refunds