Boston, Mass., Mar 18, 2013 -- PXT Payments, creator and provider of looped in™, the first full featured, geolocation-based mobile payment app and digital wallet provider, today announced a partnership with Fenway Sports Management (FSM), the global sponsorship sales arm of Fenway Sports Group. PXT Payments was founded in 2004 as a smart debit card payment system, and has been processing transactions daily since 2006.
"looped in™ mobile technology offers an innovative payment solution for both consumers and merchants," said Matt Murrey, Vice President of Boston College Marketing Partnerships at Fenway Sports Management. "They have essentially captured all the conveniences of cash on a mobile platform without any of the drawbacks."
As a result of the partnership, looped in™ will be promoted at Boston College's Conte Forum and Alumni Stadium as a sponsor of Boston College Athletics.
"We continually look for ways to expose our students and fans to new, innovative technologies," said Brad Bates, Boston College Athletic Director. "We look forward to working with looped in™ and welcome them as a new partner of Boston College Athletics."
looped in™ will give BC students and sports fans an opportunity to use the mobile app at Conte Forum and Alumni Stadium, including games, demonstrations from their mascot Lou, and prizes from the BC campus book store.
PIN protected, the looped in™ mobile payment app is safer than cash, debit, or credit cards, is completely free, offers instant and ongoing rewards, and makes paying as easy as texting.
Consumers can transact both online and offline with PIN security, redeem offers as part of a transaction, and send friends deals they're not using. Like an ATM on your phone, geolocation-based looped in™ ups the ante for all mobile payment systems and the user-merchant experience.
"The college and young professional markets are naturals for our mobile payment and rewards system," said John Regan, CEO of PXT Payments. "Through our partnership with Fenway Sports Management, we are working toward introducing looped in™ not only to Boston College students and fans but also to sports facilities and other merchant partners that can benefit from direct communication with consumers, a streamlined goods and services payment process, and the ability to accept pooled payments for group sales."
ABOUT looped in™ and PXT Payments:
Safer than cash, credit, or debit cards, looped in™ enables consumers to find and share deals, pay for purchases, send money instantly to friends, and pool money for group purchases on- and offline. Founded in 2004 as a smart debit card payment system, looped in™ creator and provider PXT Payments has been processing smart debit transactions daily since 2006. The company launched looped in using a secure cloud based operating platform hosted by Sungard Availability Services. To complete settlement among all parties involved, PXT uses the Federal ACH payment system. The looped in™ app is the evolution of PXT's payment system. Download looped in™ for iPhone® or Android™ from the App Store™ or Google Play. Visit areyoulooped.in and pxtpayments.com.
About Fenway Sports Management (FSM)
Fenway Sports Management (formerly Fenway Sports Group) specializes in sponsorship sales and brand management consulting, and serves as the global sports sponsorship sales arm of Fenway Sports Group. Since its inception in 2004, FSM has created successful integrated sponsorship programs for the blue chip brands it represents including: the Boston Red Sox, Boston College Athletics, Liverpool Football Club, LRMR/LeBron James, Major League Baseball Advanced Media, New England Sports Network (NESN), PGA TOUR Playoff event the Deutsche Bank Championship and Roush Fenway Racing. FSM's consulting clients include Athletes' Performance, Dunkin' Donuts, Gulf Oil & JetBlue. FSM operates with an entrepreneurial spirit, and seeks opportunities to create and be involved with a select number of new projects with an eye toward those that are beneficial to its parent Company. For more information, visit www.FenwaySportsManagement.com .
HOW TO USE
To use looped in™, consumers simply download the app onto any iPhone or Android, instantly load money from a debit or credit account, or from a bank account, and then start acting like they have money stored right in an app. Along with paying at hundreds of merchants and restaurants, looped in™ app users can also send money to any friend or family member in the United States, in less than 10 seconds, absolutely free -- just by keying in their friend's phone number. It's like texting, plus your money.
Consumers can also pool money, online or offline. Instead of throwing down four debit cards at a restaurant to pay, three friends simply send money to the fourth friend's looped in™ app -- by keying in their phone number and hitting send inside the app. Pooling money online revolutionizes consumer ability to collectively make shopping cart purchases. They can send money to one person's phone. Then that person keys in their phone number in the shopping cart. Never before have groups of people been able to group-shop online. So if there's a buy one get one free situation, or bulk discounts, consumers can now take advantage of it online or in a store.
Consumers can move money in and out of their looped in™ account. To send money back to a bank account, just click on Withdraw money, enter the amount, and your PIN. Unique to mobile payments, when money is loaded into a looped in™ account, there is absolutely no personal data or banking data stored, captured, or sent. Please visit areyoulooped.in
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Source: Company press release.