The startup offers a secure payment gateway platform that includes a digital wallet for seamless banking transactions. By simplifying the payment process, it eliminates user hesitation and discomfort, enabling clients to conduct transactions safely and efficiently.
Funding
$4.8M 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
Traditional payment methods often involve high transaction fees, especially for small businesses, and can be slow and cumbersome for both merchants and customers. Existing digital wallets have not been widely adopted, preventing businesses and customers from realizing the full benefits of modern payment solutions like FedNow.
Solution
Purs provides a low-cost payment solution that leverages bank-to-bank payment networks to reduce transaction fees for businesses. The platform offers both scan-to-pay functionality via QR codes and mobile ordering capabilities, enabling customers to easily make payments and earn reward points. By integrating directly with community-minded financial institutions, Purs bypasses traditional card networks, resulting in significant cost savings for merchants. The system is designed to improve the customer experience by offering convenient ordering and payment options, encouraging the adoption of efficient settlement solutions.
Target Audience
Purs targets cafes, restaurants, and state-licensed cannabis dispensaries seeking lower transaction fees and streamlined ordering and payment processes.
Features
- Bank-to-bank payment processing to minimize transaction fees
- Scan-to-pay functionality using QR codes, accessible on any device without requiring an app download
- Mobile ordering feature for dine-in and takeout, allowing customers to order and pay from their phones
- Automatic QR code generation for table service
- Customer reward points program to incentivize usage
- Integration with FedNow for instant payment settlement
- Support for service fees and tipping options