Pie Systems offers a digital VAT reclaim platform that automates the refund process for tourists, enabling them to complete claims in under five minutes through a mobile app. By providing real-time data insights and instant refunds, the platform enhances the shopping experience while maximizing tax-free revenue for retailers.
Funding
$1.6M 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
Tourists often face cumbersome and time-consuming processes when attempting to reclaim Value Added Tax (VAT) on purchases made abroad. Traditional VAT refund methods involve paperwork, long queues, and delays in receiving the refund. This can detract from the overall shopping experience and discourage tourists from maximizing their tax-free benefits.
Solution
Pie Systems offers a digital platform designed to streamline and accelerate the VAT reclaim process for tourists. Through a mobile app, users can complete their refund claims in a fraction of the time compared to traditional methods. The platform provides real-time data insights and rapid refunds, enhancing the shopping experience for tourists while simultaneously helping retailers boost tax-free revenue. By automating verification and adopting a digital-first approach, Pie Systems simplifies VAT refunds, making them more accessible and efficient for both shoppers and retailers.
Target Audience
The primary target audience includes international tourists seeking a hassle-free VAT refund process and retailers looking to enhance the shopping experience for tourists while increasing tax-free sales.
Features
- Mobile app for tourists to submit VAT refund claims digitally
- Automated verification process to expedite claim approvals
- Real-time data analytics dashboard for retailers to gain insights into tourist shopping patterns
- Rapid refund processing, with refunds issued within 24 hours in many cases
- Multilingual customer support available 24/7 via in-app chat, email, and social media
- Integration with retailer systems for seamless onboarding and operation
- Fee structure significantly lower than industry standards, potentially as low as 1% of the purchase amount