More than 100 different restaurant and retail brands, including small businesses and chains, now accept PopID's payment product, called PopPay, around college campuses throughout Southern California.
PopID has approximately 70,000 registered users and has accurately authenticated faces over four million times.
The growth of the PopPay platform among college students follows the deployment of PopID’s entry system, called PopEntry, on student housing facilities. Students first enroll for the PopID service in order to get into their housing facilities without needing a key card. Then once those students learn that they can use the same service to purchase food and other goods without having to pay on the day of the purchase, theyuse PopPay as a more convenient, fun and financially flexible way to pay. Based on the success of the PopID service in college communities throughout Southern California, PopID is planning to roll out to college campuses across the country over the next 18 months. Deployments of the PopEntry system in student housing will be followed by dense PopPay acceptance in surrounding businesses.
The rapid spread of PopID communities on college campuses was enabled by the closing of PopID's $10M Series B financing earlier this Summer. Cali Group, The Wasserstrom Company, and Japan Computer Vision (a wholly owned subsidiary of SoftBank Corp.) invested in the round.
PopPay offers various benefits for both small businesses and enterprise chains. When integrated into self-ordering kiosks or offered on payment terminals connected to the POS, PopPay results in substantially lower payment processing fees for operators. Additionally, PopPay speeds up transactions, resulting in higher throughput and has been shown to increase loyalty usage. Finally, PopPay provides new ways for brands to interact with consumers. For the first time, marketing teams can use payment as an interactive, branded experience that drives consumer engagement.