Canada-based AvidRetail has rolled out a new mobile payment app, Kash, which serves as an alternative to credit card companies that rewards customers for shopping and reduces retailers’ credit card fees to zero.
With Kash payment app, users can make payment for their purchases, get 1% cash back, collect e-receipts, receive loyalty points, order products from their phones, and transfer money to family and friends.
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AvidRetail CEO, Kaz Nejatian, said with Kash, customers need not carry their wallets; all that they need is a driver’s license and phone.
"All the pieces of paper and plastic that used to go into your big, fat wallet can now fit in your phone," Nejatian added.
Kash is not only useful for customers but for retailers also. It does not depend on credit card processing, but withdraws money directly from customer’s bank account and prevents all credit card fees.
Kash will be available in Canada and the US and will be made available in the summer of 2014.
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By GlobalData
