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Table of Contents

Lead Story

Mobile payments 2013 - Part 1

News

Industry Update

Bergeron steps down at VeriFone

New battles erupt in mobile wallet wars

LevelUp reaches 1 million users

Farewell to Mike Duffy

Trade Association News

Features

Research Rundown

Selling Prepaid

Selling Prepaid

Prepaid Expo features ducks on a pond

ISO opportunities at Prepaid Expo

Views

No changes in line for debit caps

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Don your 'brown shoes' and differentiate yourself

Jeff Fortney
Clearent LLC

Be a true expert adviser

Daniel Wadleigh
Marketing Consultant

The rewards of lean thinking

Dale S. Laszig
Castles Technology Co. Ltd.

It's time to change the conversation

Adam Moss
Charge Card Systems Inc.

Company Profile

projectprepaid

New Products

Big data for SMB market

Tranzlogic
Tranzlogic

Cloud-based business manager

Starter program
PaySimple

Inspiration

How are other people influencing you?

Departments

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

March 25, 2013  •  Issue 13:03:02

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LevelUp reaches 1 million users

LevelUp Inc., a third-party mobile payment aggregator, is gaining traction. It disclosed in February 2013 that the number of customers using the LevelUp mobile application had doubled to 1 million users since November 2012. Additionally, 5,000 merchants have signed up to use the LevelUp service, the company said.

Developed by Scvngr, a Google Ventures-backed social location-based mobile gaming platform, Boston-based LevelUp debuted in March 2011 as a daily deals platform. Four months later it rebranded as a mobile payment platform. LevelUp founder Seth Priebatsch, who formed Scvngr back in 2008 at the age of 19, launched his latest venture with $20 million in capital funding.

Pathway to expansion

"LevelUp is much more than a mobile payment app," stated Mark Fletcher, Director, Global Partnering & Application Development for Nokia. "Between the money it saves consumers, the analytics and the zero interchange fees it offers merchants; it has a great value proposition."

LevelUp has formed a number of strategic alliances. For one, when Boston-based ISO Merchant Warehouse unveiled its Genius platform in 2012, LevelUp was included in the platform. Dan Dufault, Executive Vice President of Marketing and Solution Innovation at Merchant Warehouse, said, "The LevelUp integration with the Genius Customer Engagement Platform is designed to work seamlessly for merchants, giving them the ability to tie LevelUp directly into their payment acceptance environment."

Growth checkpoints

LevelUp is enjoying upward momentum, but will it have long-term viability? Ben Goretsky, Chief Executive Officer at USAePay, noted that incorporating LevelUp requires a number of steps, including educating merchants. "You have to convince your customers to download the app, start using it, pay through your phone or pay through the loyalty program," he said. "Let's look at it realistically. Authorize.Net, the largest gateway in the United States for merchant processing, at their peak had about 250,000 merchants."

Goretsky believes the number of people who continue to use the application within the retail environment will be more important than the number of app downloads as a key determinant of success.

Priebatsch, however, expressed optimism, stating that "an interesting fact is that once a user uses LevelUp more than twice, it's a 90 percent guarantee they'll keep using it at least once every month thereafter; often many more times a month."

For additional news stories, please visit www.greensheet.com and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

USAePay | Impact Paysystems | Electronic Merchant Systems | Inovio