PaySwag Selected for Money20/20’s First StartupPitch180 Competition
Las Vegas, Nevada (PRWEB) October 21, 2015 -- PaySwag, the first white-labeled mobile app to bring a revolutionary approach to collections for underbanked consumers, businesses and governments, has been selected to present at Money20/20’s inaugural StartupPitch180 competition. PaySwag will be heading to Las Vegas to compete against a total of fifteen hand-selected companies on Oct. 26, with $50,000 in prize money on the line.
A new competition as of 2015, the Amazon-sponsored StartupPitch180 brings together fifteen leading startups from around the world to present their innovations to a live audience and panel of judges from leading venture capital firms such as Bain Capital Ventures and Commerce Ventures. These early-stage companies will have just 180 seconds to present their businesses to the judges and audience, who will be responsible for deciding the winners of the two cash prizes.
“StartupPitch180 competition is the place to see the hottest startups pitch their ideas for solving today’s most challenging fintech problems,” says Sanjib Kalita, Money20/20’s Chief Marketing Officer.
PaySwag’s mobile app and platform integrate features designed to effectively resolve the real-world issues that impact both ends of the collections spectrum, through its cash or card payment, reward, education and feedback engines.
More than just a payment app, PaySwag aims to improve the financial lives of the underbanked. The mobile app features educational videos, engaging games and push-payment notifications. Additionally, the platform gives users the flexibility to create payment plans that are convenient for them and the freedom to pay by cash at more than 17,000 neighborhood locations. Most notably, customers who keep on track earn “swag” points that can be redeemed for Amazon gift cards, Redbox rentals and more.
“We’re thrilled to be a part of this competition. In an initial case study, a lending company who implemented the PaySwag platform experienced a 50 percent reduction in severely delinquent loans and was able to bring in $3.5 million in recouped debt. I think that our mission and clear proof of concept really position us well to win StartupPitch180,” says founder and CEO Max Haynes.
From the more than 200 applications received this year, just 15 finalists were selected to compete in this exclusive competition. StartupPitch180 is sponsored by Amazon Payments, and judges will be using criteria found in the company’s set of Leadership Principles to select their winners.
Judging principles include:
• Customer Obsession – starting with the customer and working backwards
• Think Big – offering bold solutions to big problems
• Invent and Simplify – innovating to replace complexity with simplicity
By transforming how the underbanked interact with lenders, municipalities and other entities, PaySwag is certainly on the right trajectory. Through mobile gamification and easier access for those without bank accounts, the platform has been able to make payments more accessible, rewarding and likely.
“This session will be energetic and action-packed. All attendees will leave with enriched minds, and two companies will be leaving with enriched bank accounts,” says Kalita.
About PaySwag
PaySwag, by Customer Engagement Technologies, simplifies the collections process for underbanked consumers, businesses and governments through its white-labeled mobile app’s cash or card payment, reward, education and feedback engines. By combining mobile access and alternative payment technologies, the PaySwag platform gives borrowers the tools they need to make on-time payments, and rewards them for doing so. Using mobile gamification to transform how the underbanked interact with lenders, municipalities and other entities, PaySwag makes payments more accessible, rewarding and likely.
About StartupPitch180
StartupPitch180 will take place on Monday afternoon (10/26) and will feature pitches from 15 innovative fintech companies. Each company will have a total of 5 minutes: 3 minutes for a pitch, and 2 minutes for Q&A with a distinguished panel of VC judges. Two grand prize winners will be selected — one chosen by our VC panel, the other selected by the audience. Voting will be conducted via the Money 20/20 mobile app.
Emily Thomson, Leverage PR, http://www.leverage-pr.com, +1 (512) 502-5833, [email protected]
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