Throo provides a mobile payment platform for businesses and individuals offering low-commission transactions and instant clearance for merchants. Individuals benefit from earning real cashback on purchases made at participating Throo Spots. The service facilitates safe, rewarding, and efficient digital money experiences for all users.
Funding
$440K 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 for merchants and lack immediate rewards for consumers, creating a need for more cost-effective and rewarding payment solutions. Existing systems can also be cumbersome, requiring physical cards or complex online processes, which detract from user experience.
Solution
Throo provides a cardless payment ecosystem designed to streamline transactions for both merchants and consumers, integrating a loyalty cashback system to enhance value. For businesses, Throo offers a POS system and plugin for e-commerce platforms, enabling acceptance of payments with a low, fixed commission fee of 0.5% per transaction and no POS maintenance costs. Consumers benefit from real-time cashback rewards on purchases, which can be redeemed at their favorite stores, and secure, cardless payments via the Throo mobile application. The platform facilitates instant money transfers and aims to foster a win-win payment environment for all users.
Target Audience
Throo targets both merchants seeking lower transaction fees and customer loyalty programs, and consumers looking for secure, rewarding, and convenient payment options.
Features
- Cardless payments via mobile app scanning or QR code
- Loyalty cashback program offering real-time rewards for consumers
- Fixed transaction fee of 0.5% for merchants
- POS system and e-commerce plugin for businesses
- Instant payment clearance for merchants
- Secure transactions without the need for physical cards
- Mobile app available on both iOS and Android