The service is currently enjoying considerable success with southern California merchants across multiple different verticals.
The company's flagship client is The Bean, a chain of local coffee and food shops. The Bean lost its lease to a corporate coffee chain last fall and responded by continuing plans for expansion into three East Village locations. Kuapay is also working with the Little Pie Company, a bakery located on 424 West 43rd Street.
"We are excited to enter the New York City market, which has a diverse mix of customers that demand an optimal experience from every merchant," said Kuapay founder and CEO Joaquin Ayuso de Paul. "We're an independent company that is able to move fast to meet the needs of our broad base of clients. We chose The Bean because they are also a dynamic company that is moving to aggressively capture customers and we admire their success."
"Given all the options on the market, I had to go with a solution that offered exceptional value to my customers, and Kuapay does," said Ike Escava, co-owner of The Bean.
Starting today and continuing for 10 days, The Bean and Kuapay will offer a special promotion during midday to encourage users to download their free mobile wallet app. Kuapay allows users to store various coupon offers, reward programs, and credit and debit cards in a digital wallet that features a patented encryption process. The company offers the lowest per-transaction rate in the industry to merchants, enabling merchants of all sizes to present attractive offers and integrated loyalty rewards. Kuapay gives complete control of the digital wallet to the consumer, allowing them to store their preferred credit card, loyalty program, and custom coupons for free.
"We designed Kuapay to be universally intuitive for both consumers and merchants," continued Mr. Ayuso de Paul. "Once a customer downloads the app, the steps needed to pay with their phone are immediately evident. There's simply no learning curve."
Open since early 2003, The Bean is a local New York City coffee shop that features various coffees and teas, sandwiches, vegan fare, and various other items. The company has a large and loyal customer base that is attracted to the high-quality coffee and food and the company's willingness to stand out from corporate chain shops. The Bean operates three New York City locations: 54 2nd Avenue, 824 Broadway, and 147 1st Avenue.