Corduro, who operates the consumer app PayMobile, announced a new way for businesses to directly reach their best customers last week, and also simplify commerce and consumer rewards through the consumer mobile payment app . Even though Corduro supports in-store, online, and mobile payments with complete back-office integration, the emphasis on mobile could not have come at a better time, with the industry set to explode according to many.
Starbucks mobile payment app is now processing over 4.5 million transactions a week alone, and this is only 10% of their total transactions. Speaking at the Sanford C. Bernstein Strategic Decisions Conference, Starbucks CEO Howard Shultz said, “Basically over the past year and a half, we’ve noticed a seismic change in consumer behavior and that seismic change primarily is due to social and digital media and the rising tide of mobile phones replacing desktop computers.”
The PayMobile app works in much the same way, allowing users to shop, order, and pay individuals or merchants from their credit card or checking account by using a secure digital wallet app. The app also conveniently catalogs receipts for users, and also uses hardware encryption and PIN access to secure users private information.
What Corduro’s PayMobile adds to the mix is the ability for businesses to run multi-channel campaigns, viral campaigns, member rewards and organization-wide collection capabilities. Businesses can also get customer information in real-time and link existing loyalty programs and CRM provider data with enhanced information from a persons social graph including things like location, interests, loyalty and community influence. This allows for more precise optimization of campaigns by incorporating data from numerous sources so marketers get a more complete picture of how campaigns are performing across channels, and make adjustments accordingly.
The PayMobile app also offers rewards and recognition to users who invite friends to connect with an organization and share special offers. Those with large Facebook or Twitter networks can reap immediate rewards, as the more influence a person has, the bigger the rewards.
Founder and CEO Robert Ziegler launched Corduro in 2010 with the belief that mobile devices would become the cornerstone of how people interact with organizations. “We wanted to build a technology that would become the centerpiece of that disruption,” said Ziegler. “Ultimately, we want to be the backbone of commerce and trust between consumers and organizations.”
Some of the investors behind the company include Google Ventures, WTI, Founders Collective and Heartland Capital. Based in Southland, Texas, Corduro is a Level 1 Service Provider and provides both least cost and revenue optimized transactional routing to your preferred payment partner.
More information about Corduro can be found at http://www.corduro.com/