StartUp Launches Platform To Create “Starbucks-Like” Mobile Payments

Channeling the Starbucks mobile payments app, Kash is an app that aims to bring that same customer experience to other retailers and SMBs, according to TechCrunch. In doing so, they hope to cut the costs of credit card fees.

The Kash app, available for iOS or Android, lets users download the app without having to enter in an account and credit card information the first time they use it. Instead, it shows a green debit card that says “tap to pay,” and the first purchase is covered by Kash.

Users can pay straight from their checking accounts without having to use their credit cards. They enter their online banking log-in information, however “Kash promises that it fully covers any fraud that could result from using the app,” the article states.

In addition, the benefit for retailers is that they get paid for sales in the same day, as opposed to waiting weeks for a transaction to go through. And retailers that sign up for Kash get on-site setup and a free scanner.

The app does not integrate directly with existing POS systems, however, Kash CEO Kaz Nejatian told TechCrunch that “retailers it has approached would rather have the separate installation now than wait a few months for those features to be rolled out.”