Company: DipJar Inc
New York-based DipJar Inc. has re-imagined and re-engineered the ubiquitous tip jar, creating a standalone digital collection device that allows consumers to tip by "dipping" credit and debit cards.
DipJar is designed to be widely compatible with numerous POS environments, including integrated cash registers, terminals and mobile POSs. A fixed amount of gratuity or charitable donation, preset by the merchant or organization using the jar, is clearly displayed on the front of the device.
DipJar Chief Executive Officer Ryder Kessler initially conceived of the idea during a routine visit to a neighborhood coffee shop, where he noticed that many customers using electronic forms of payment to make small purchases didn't have coins or small bills handy and were bypassing the tip jar. He realized what might be considered to be a minor inconvenience by consumers could be a widespread problem for low-wage workers who rely on tips to make ends meet. Conversations with workers validated that a decrease in cash payments led to less cash in their tip jars.
"I observed that modern payment methods such as tablets and mobile devices are not always conducive to adding tips and began to explore how to recapture the lost wage segment," Kessler said. He described DipJar as a "minimally invasive" enhancement to the tradition of putting extra dollars and coins in a tip jar, with the "potential to go beyond the tip jar or collection box by promoting good will, reinvigorating donations and creating new revenue streams," he added.
Adding a donation to a tip jar is frequently seen as a public gesture of good will at retail and hospitality establishments such as sushi bars, donut and coffee shops and food trucks. In a nod to tradition, the DipJar will illuminate and simulate the sound of coins clinking in a jar when customers dip their credit and debit cards.
Kessler described the DipJar experience as a different payment instrument that doesn't upend existing infrastructure and enables consumers to continue customary methods of tipping and making donations at favorite restaurants, retailers and charitable events.
DipJar's small form factor, evocative of older glass jars that have graced merchant countertops for generations is self-contained and uses 3G wireless connectivity and an electrical power supply. Credit and debit card transactions are encrypted at card entry and are routed via SSL connections to DipJar servers. The devices are Payment Card Industry Data Security Standard compliant and routinely updated to stay current with the most advanced forms of credit card processing technology.
DipJars can be leased to merchant establishments that employ tip-earning employees, as well as to registered 501(c)(3) charitable organizations.
In addition, the company is interested in working with acquirers. "DipJar is excited to leverage existing relationships between the ISO community and the merchants they service through distribution partnerships," said Jordan Bar Am, DipJar Vice President of Sales and Business Development.
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