Denver-based Mocapay is a privately held, venture-funded enterprise focused on mobile payment and marketing technology. It offers a comprehensive, merchant-centric, mobile solution designed to thoroughly enhance merchants' interactions with customers and enable consumers to make payments securely via mobile devices.
Founded in 2006, Mocapay opened its doors in 2007 and is now led by Gordon Boyes, the company's President and Chief Executive Officer. Directly prior to joining Mocapay, Boyes served as an operating partner supporting a range of technology and software portfolio companies at Lacuna Gap Capital, one of Mocapay's investors.
Other company leaders include Mocapay Chief Technology Officer James Ray, Chief Financial Officer J.K. Hullettt, and Christopher Munz, Mocapay Director of Business Development. Together, the team is dedicated to developing innovative mobile solutions that create sticky relationships between merchants and customers and create deep, resilient, loyal brand connections. They are also working to bring a broad understanding of best practices to the mobile payments industry as a whole.
Mocapay stated that its cornerstone patent "offers merchants a single-use, perishable token for mobile transactions [that] ensures the security of sensitive consumer information for any type of transaction while providing merchants with the marketing intelligence to better understand and influence customer-spending behavior."
The company also holds payment card emulation or "spoofing," mobile marketing messaging, and gift-a-friend patents. The token or code is delivered directly to the consumer's mobile phone, authorizing the transaction using "one of the most secure methods in the industry," Mocapay stated. It has apps for iPhone and Android devices, as well as for the web.
A lightweight software package requiring no hardware updates is all that's needed to adopt Mocapay, the company said. And its exclusive API token "eliminates the need for any POS integration on the part of the merchant," Mocapay added. Clerks using Mocapay's app at the POS "need only enter a customer's cell phone number, and Mocapay does all the legwork behind the scenes to make the app work," Mocapay said.
With elevating the merchant's brand as a primary objective, Mocapay focuses on the distinct needs and goals of each merchant. From merchant branding to data ownership, the company strives to empower merchants to enhance relations with their customer base, as well as attract new customers with cutting-edge technology.
Mocapay stated that its patented, Payment Card Industry Data Security Standard 3.0-certified, easy-to-use solution gives merchants and Mocapay partners all the tools required to:
Merchants own their data and can use the merchant portal as a single point of access to initiate and manage their text and mobile campaigns, schedule mobile campaigns, manage and support customer lists, and track campaign results.
Mocapay thrives on partnerships, its agreement with Merchant Link being a recent example. And it offers flexible options to partners, including white-label, referral and reseller programs. Partner pricing is customized depending on the particulars of each situation. Partners include ISOs, acquirers, gift card providers, loyalty companies, and other types of businesses that offer services to merchants.
Mocapay offers subscription-based pricing to merchants (which it found merchants prefer) that takes into account the number of locations a given retailer has and what products and services the merchant chooses. Mocapay works with industry incumbents rather than trying to disintermediate them, the company noted, adding that its app is integrated with Chase Paymentech, Mercury Payment Systems and First Data Corp.
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