TabSprint, one of The Startup Factory’s most recent graduates, is moving to address customer feedback in order to rapidly scale the mobile-payment system.
The company is eliminating the thirty-cent additional surcharge on orders from customers that use TabSprint to pay their bill at restaurants and bars.
Current customer feedback was the driver behind the decision, said John Chipouras, CEO and co-founder of TabSprint.
The company has also cut the fees that venues pay the company in order to run the mobile-payment and mobile-ordering system. Venues still pay a monthly fee in order to use the mobile payment platform, said Chipouras, but it is still good business.
“Our mobile payment system solves a huge pain point for a specific segment of point-of-sale restaurants and businesses,” said Chipouras last month at The Startup Factory’s Pitch Day in conjunction with Paradoxos, “their nightlife.”
With more than a dozen popular venues in the Triangle utilizing the TabSprint mobile-payment application, the idea is catching on.
“We loved the idea right off the bat,” said Cody Maltais, one of three co-founders of Steel String Brewery in Carrboro, “especially since it allowed us to serve more customers during busy times without having to purchase new equipment.”
“We have been very impressed with the product and the service from the TabSprint team,” said Maltais. “The biggest concern from our customers was the extra fee, and we talked a great deal with everyone at TabSprint and are excited they have found this solution.”
TabSprint is set to launch two new features that provide credit to customers for using and sharing the mobile app, said Chipouras, and in doing so, the company is poised to continue its growth and increase their customer base.
“We are one of the few mobile payment apps where our venues push our product to the customers,” said Chipouras, who added that the TabSprint app is an easy way to “decentralize payment bottlenecks.”
Chipouras and TabSprint are raising $500,000 in angel investment in order to expand TabSprint to markets outside of the Triangle.
“Investor interest was high,” said Chipouras, about The Startup Factory Pitch Day event. The company is currently putting together a group of investors and expects to reach their seed round soon.
