Tag: #fintech

buymie partners with new money saving app Woolsocks

buymie, the same-day delivery platform, has announced it is partnering with new Money Saving app Woolsocks to provide discounts to its loyal shoppers.

The new multi million euro funded fintech app Woolsocks launched in Ireland on 17th October 2022.  buymie, Ireland’s leading same day grocery delivery company is one of Woolsocks first partners and is expected to feature in its TV advertising campaign early 23.

Consumers that download the Woolsocks app can save up to 2% on their weekly shop at either Dunnes Stores or Lidl when they get their groceries delivered via buymie. Following its recent launch with buymie, residents of South East Dublin can also avail of the 2% discount when they shop with Woodie’s.

CEO of buymie, Devan Hughes, said of the partnership: “Myself and Laiz are watching our spending like every other family right now. Online shopping is a great way of keeping to a budget and saving petrol money. As well as the weekly deals, this Autumn, we have added new lower cost eco slots. This extra 2% saving for buymie customers with Woolsocks is the icing on the cake. It is a great app and good luck to the team at Woolsocks”. 

CEO of Woolsocks, Carlos Valenzuela also commented ”Woolsocks is aimed at creating an ecosystem where users and local shops can benefit, allowing everyone to easily save money on their daily expenses. For that reason, we are more than thrilled to partner with buymie – the go to brand for grocery delivery in Ireland. Here’s to a great partnership!”

How it works :

Download the Woolsocks app from the app stores and each time you do your grocery shop with buymie you automatically get up to 2% back on your weekly shop , which is added to your savings “sock” in the Woolsocks app,  that you can either save, spend or donate to charity. The deal will initially last for six months.

Irish Tech Firm Xtremepush Wins ‘Online Initiative of The Year’ for “Outstanding progress in the fight against phishing” At Europe FinTech Awards 2022

Irish tech firm Xtremepush has won Online Initiative of the Year at the Europe FinTech Awards, 2022, for the work they did with one of Ireland’s biggest financial institutions to reduce online fraud.

CELEBRATING EUROPE’S FINEST FINTECHS

Irish tech firm Xt

remepush has won Online Initiative of the Year at the Europe FinTech Awards, 2022, for the work they did with one of Ireland’s biggest financial institutions to reduce online fraud.

The Europe FinTech Awards 2022 in association with ID-Pal is the benchmark by which financial services modernisation and technological progress in the world’s premier financial services centres are judged by an independent panel of experts.

“Outstanding progress in the fight against phishing”

The independent panel of judges voted Xtremepush “The winner of Online Initiative of the Year because they presented an excellent solution to a very real problem, utilising its technology to achieve a significant reduction in fraudulent activity. This initiative also demonstrates the solution’s ability to scale up in the future. Outstanding progress in the fight against phishing.”

Commenting on the award CTO Dr Kevin Collins said “We are delighted with this significant win. Phishing scams and identity fraud increased by 184% in 2021, costing the Irish economy €1 billion every year, so our objective was to quickly put in place a failsafe that would make it significantly harder for fraudsters to gain access to customer bank accounts. Based on research, €8,000 is defrauded for every 1,000 people in Ireland. Our innovation led directly to a circa 50% reduction in phishing attempts as part of a wider strategy to reduce fraud.”

He added “Our innovation allowed the bank to provide customers with a secure notification and reliable verification alerting solution that didn’t require adding any complexity or multi-stage processes to their banking experience. The result is a robust level of protection from fraud and cyber-criminals.”

Working with the financial institution, Xtremepush developed a revised verification process to reinforce the existing anti-fraud measures. The company developed and deployed a solution within six weeks to significantly reduce fraudulent activity.

Dr Kevin Collins added “We needed to utilise the existing technology and deliver an effective response to the issue of fraud that wouldn’t significantly impact the user experience for the bank’s 2 million customers.”

The solution allowed the bank’s customers to confirm the validity of device registration and add new account payees by leveraging a multi-channel communication strategy. This allowed the customer to either confirm or reject the request and alert the bank to take steps to re-secure their account if this was required.

Xtremepush faced several challenges: the solution needed to work the first time, said Collins. “Because we were taking direct action against fraudsters and cyber-criminals, a miscalculation on our part would have allowed them to find a way around the solution”

Secondly, the company needed to work fast: comments Xtremepush CEO Tommy Kearns “We were approached by our client at the end of 2021 with an urgent request to help combat fraud. We needed to respond quickly and decisively with a solution that could be rolled out with minimal disruption alongside other anti-fraud measures the bank was deploying.” He added, “we had to work within the existing infrastructure and compliance requirements of our client to avoid any disruption to banking services via the mobile app and to ensure we were fully compliant with guidelines and regulations. And of course, any solution we proposed had to operate within established security standards of the bank as well as GDPR and other data protection legislation.”

Xtremepush goes global

Xtremepush will more than double its workforce here in support of the global roll-out of its award-winning enterprise customer intelligence platform and recently announced it has created fifty new roles this year, with plans to add another 120 in the next three years, and a new purpose-built Dublin HQ in Clarendon Street, Dublin 2.

“We are already becoming a global category leader, working with leading enterprise clients from offices in Ireland, the United Kingdom, North America and Eastern Europe. Our new Dublin flagship headquarters, in this prime location, is a marker of further growth acceleration” said CEO Tommy Kearns.

Reflecting this push into the US market, the company has recently invested in a new office in downtown Manhattan in New York to meet that ambition and support the firm’s accelerated growth in North America, where they recently won Marketing & Services Provider of the Year at the SBC North America 2022 Awards.

The SBC Awards recognize the achievements of operators, affiliates and suppliers from all the major disciplines including payments, marketing, platform providers and data. The 2022 SBC Awards North America also celebrate the companies surviving and thriving 2022 through these unprecedented times.

About Xtremepush

Founded in 2014 in Ranelagh in Dublin, by CEO Tommy Kearns and Dr Kevin Collins, its Chief Technical Officer, Xtremepush has been placed in the Deloitte Technology Fast 50 Awards for three consecutive years.

Xtremepush works with a global portfolio of clients across several key verticals including banking & financial services, eCommerce, sports betting & gaming, travel & transport and publishing & media. The company owns its technology, end-to-end, supporting a single customer view, with ‘one platform’ serving all marketing needs.

Deep data & real time capabilities make Xtremepush a go-to multichannel marketing hub for enterprise brands. It enables businesses to acquire new customers and communicate with existing customers through automated, real-time and personalised messaging.

Clients include leading Irish financial institutions, McDonald’s, INM Plc, RTÉ, Dublin Airport Authority (DAA), Big Bus Tours, Wowcher, LiveScore, Oddschecker, Paddy Power Betfair and more. Xtremepush is an employer in Ireland, the UK, the US, Ukraine, Lithuania, Turkey, Poland, the Czech Republic and Romania.

Irish Fintech Money Jar Announces 100 New Jobs

Today, Irish owned fintech, Money Jar, announced the creation of 100 new jobs to drive expansion of the company in Ireland and across Europe. The highly skilled roles in software engineering, compliance and security, product management and design, marketing, sales, account management and customer support, will enable Money Jar to scale its platform and footprint internationally.

Money Jar met with An Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar earlier today to brief him on the expansion and job creation. Speaking ahead of the meeting, Leo Varadkar said: “It’s fantastic to see an Irish company go from strength to strength and see such success. We’ve worked hard to create a warm and welcoming environment for our tech entrepreneurs and it’s really encouraging to see Money Jar’s ambitious growth plans and their progress to date. I wish the team all the very best with this next stage.”

Commenting on the expansion at Government Buildings today, Chief Technology Officer and co-founder of Money Jar, Johan Reveillard, said: “The leading-edge technologies that underpin the Money Jar platform are security, functionality, and usability. At Money Jar we have been very adept at harnessing technological innovations to launch new functionality, generate value for the consumer, and shape the competitive landscape. With these new roles, we will continue to challenge traditional financial institutions and their offering, as they will need to invest considerably on top of the gathering wave of financial industry disruption.”

Money Jar currently employs 22 people and has ambitious plans to ensure efficient, convenient, and secure digital financial management for its customers and to develop its services in line with this. John Harkin, Executive Chairman of Money Jar, said: “Money Jar is one of the most diverse and fully functioning neobanks on the market today. The expansion and the creation of 100 new jobs will allow us to further our commitment to promote responsible money management in Ireland and across Europe.”

The expansion plans have been realised with the support of Enterprise Ireland through its High Performance Start Up programme. Jenny Melia, Manager of the Technology & Services team at Enterprise Ireland commented: “Ireland’s reputation for Fintech excellence continues with Money Jar. We are delighted to support Money Jar to expand internationally. It is an ambitious growth strategy, and the employment plans are tangible evidence of the potential of this Irish-owned start-up.”

Founded in 2019, Money Jar is the only Irish fintech to offer an Irish IBAN to enable customers to complete their day-to-day transactions online. It is also the only digital current account to offer cash lodgement through collaboration with Payzone. And, Money Jar can manage cross-border transfers, allowing transactions in several foreign currencies through its partnership with Currency Cloud, a leader in international payments.

Recruitment for the 100 new roles has already begun with a view to 50 jobs being created by July 2023 and 100 jobs by the end of March 2024. The roles will be made available to people not only in Ireland, but remotely across Europe. The lifting of restrictions, coupled with remote working has created a cohort of customers that are digitally savvy. Financial management at your fingertips is more important than ever.

MONEY JAR – The First Irish-Owned Digital Current Account Platform, Open an account in 5 mins.

Money Jar is a dynamic and revolutionary new approach to banking that allows customers to open an account when it suits and in just 5 minutes. Opening a traditional bank account in Ireland can be cumbersome, requiring a lengthy approval process and often a long wait time to get an appointment for a meeting in the branch. Money Jar is a digital current account with convenient sign up and, unlike other major fintech platforms, Money Jar customers get an Irish IBAN, can pay bills, and receive wages. Money Jar offers unlimited money jars that can be shared with friends, to help customers stay on top of personal spending and improve long term financial wellbeing through better money management.

Money Jar is an Irish-owned fintech business headquartered in Dublin. All funds are held by a Tier 1 state owned Irish bank, which is regulated by the Central Bank of Ireland. Money Jar can set up digital current accounts quickly using its industry leading facial recognition technology. Money Jar has the best of what traditional banks have to offer, but with the convenience that all things digital can deliver, plus customers can talk to Money Jar’s Irish based customer care team if they need a helping hand.

Money Jar’s technology platform allows quick and safe identity verification to make the entire process straightforward and painless. Partnering with Mastercard, Apple Pay, Google Pay, Veriff and EML, Money Jar offers a safe and secure platform. When customers open an account with Money Jar, they are given a free virtual Prepaid Mastercard with contactless payments, at no additional cost. For those that prefer a physical card, they can order a Prepaid Mastercard from the app for €5, which will be delivered to their door. Money Jar fees are transparent and competitive. There is a monthly service fee of €2.99, free for the first four months, and pay as you go transaction fees. Money Jar promotes responsible, money management.

John Harkin, the Executive Chairman of Money Jar, said: ‘Consumers in Ireland have always been early adopters of technology, and this is no different in the banking sector. We know that *78% of Irish consumers manage their  money or make payments using mobile devices, and a quarter have a digital bank account. Digital banking in Ireland is growing at an exponential rate. At Money Jar, we have seen this trend first hand with our customer growth rate at 70% month on month. Money Jar is a dynamic new approach for customers to manage their money.’

Money Jar enables consumers on the Money Jar platform to transfer money peer to peer instantly at no cost, as well as enabling users to pay bills, set up standing orders, and direct debits, and transfer money in and out using SEPA, as well as using it for contactless payments. Accounts can only be accessed by using pass codes, biometrics, and a two-step verification, making a Money Jar digital current account a safe choice – no sensitive data is stored in the app or cached on the mobile device. Today, many people use two separate accounts, a primary account for bills and wages, and a secondary account for mobile transactions. Money Jar provides a one stop solution for all of these tasks that is fast, efficient and reliable.

Terms and conditions

Are The Money Management Technologies The Future Of Fintech?

Budgeting and money management have never been more important than in the wake of the Coronavirus outbreak. However, there are many who believe that fintech and other related technologies have nothing to do with managing your money, and they could not be more mistaken.

Fintech has made it possible for consumers to better manage their finances by giving them more control over how their money is spent. Managing your money used to be as simple as having a good connection with your local bank and talking to a financial advisor who put your money in stocks, mutual funds, and bonds. While conventional techniques of money management are still useful, technology now provides many more possibilities for you to take control of your finances and become debt-free.

Apps and software applications seem to exist for just about everything these days, including keeping track of your finances. Fintech’s future may lie in money management tools, which may help you better manage your finances with the aid of technology.

How Fintech Helps People To Manage Their Budget

A wide range of applications is available to help you create a budget based on the money you earn and spend each month. Additionally, some applications can classify and monitor transactions, allowing you to know precisely how much money you spend each month in different categories. Do you ever forget to make a payment on a certain bill? Is it important for you to know how much money you have in each of your accounts on a frequent basis? You can look for apps like Pam and Mamm and find which one of these –  Pam vs Mamm allows you to set up better custom reminders, such as an alarm to remind you to pay your bills or service to make payments you would otherwise miss. In addition to direct deposit, did you know that the mobile app also allows for the sending of payments, requesting refunds, and viewing of transaction history? Additionally, you may discover applications with calculators to assist you in making investing choices, calculating your net worth, estimating your insurance requirements, and more.

To assist you save money, several applications do searches for the greatest local bargains and estimate the cost of traveling from point A to point B. Search for an application that will help you save money if you want to reduce your expenditure. The cost of food at one shop against another may be compared using apps, and you can use them to get the best gas deals in your region. The additional money you save as a result of being a smart shopper may then be used towards a long-term objective, such as retirement.

You may be able to locate other money-related applications if you look around. You should be aware of the possibility of being hacked despite the fact that many applications and services offer protection.

Please use caution when disclosing personal information such as your bank account number, earnings history, purchase history, or credit card number.

Following a budget is an excellent method to keep track of your spending, no matter who you are. It’s critical for seniors on a limited income, but anybody may benefit from tracking their monthly spending and learning how to be more frugal with their money. Making a budget may help you save more money, save you from falling into debt, and allow you to do things like go on vacation that you would not have been able to do.

Future Of Fintech

Technologies like the Internet of Things (IoT), artificial intelligence (AI), blockchain, and cloud computing are changing the way customers engage with the businesses they buy from and the way they manage their money. Despite the fact that established participants in the financial services sector may see FinTech as a disruptor, individuals that embrace technological innovation are reshaping the business from the outside in and prospering where traditional firms failed. To make money management simpler and more effective, FinTech businesses are currently driving the market by developing an array of innovative financial products and services.

It’s now easier and less expensive to get money from a bank since obtaining money via loans and mortgages has become less opaque and more accessible thanks to new methods like crowdfunding and peer-to-peer lending. New, non-traditional ways of distributing money have enabled investors to prosper while offering individuals who may not qualify for a conventional loan the money they need via resources access to the money they need.

Financial markets, which were originally developed in a pre-digital era, are undergoing significant upheaval and innovation. Algorithmic or automated trading is now possible on stock markets thanks to the use of artificial intelligence (AI) and machine learning. In order to anticipate probable future occurrences, prediction markets use aggregate data from connections and network intelligence. Individuals now have access to trading tools that were previously exclusively accessible to institutional investors.

As a result of FinTech, financial service providers are able to expand into new markets, while customers in underserved regions now have access to services that were previously out of reach thanks to mobile devices. For FinTech firms, reaching underserved customers in Asia and the Southern Hemisphere opens up hitherto untapped market opportunities.

NUMARICS: Switzerland’s First Fully Digitalised Startup & SME Accountant. #Fintech #NUMARICS

Swiss fintech start-up Numarics enables startups, SMEs and freelancers to do their accounting effortlessly and 100% digitally. With this strong business model, the founding team confirms the innovative strength of Switzerland as a business location.

Accounting, payroll, tax returns, invoicing, document management and much more are now streamlined via the Numarics ecosystem on the web or via app. Numarics has made the onboarding process incredibly simple – start-ups and SMEs can be activated on the platform in just a few minutes. Instantly, all the critical, administrative activities that are crucial to running a successful SME can be done in a digital and streamlined way via the Numarics app.

For entrepreneurs who want to organise their accounting seamlessly, independently and mobile.

The founders of Numarics believe that focusing on the core business leads to success – entrepreneurs focus on their key business and Numarics takes over administration and fiduciary services via the digital ecosystem.

Numarics was developed by experts from the fields of accounting, digitalisation, artificial intelligence and auditing. The founders have developed a digital and highly innovative ecosystem that is specifically tailored to the needs of entrepreneurs. With a consistent mobile-first approach, Numarics is Switzerland’s first accounting solution for startups and SMEs that can be completely controlled via a mobile app.

“Switzerland is a safe haven for businesses, and start up hubs like in Zurich are booming. It is simply outdated to still do your business administration with expensive accounting software and manually operating accounting providers. Numarics is the first digital accountant on the smartphone, providing an innovative ecosystem for Swiss startups,“ says Dominique Rey, Swiss Certified Public Accountant and CEO & Co-Founder at Numarics.

Users focus on their business – Numarics does the rest.

Co-founder Kristian Kabashi is an expert in the digitisation of business processes and is instrumental in digitising competent and reliable fiduciary services at Numarics. The digital expert believes that technology should be used to dedicate oneself to creativity by handling repetitive, administrative tasks technologically. In the process of developing Numarics, he has focused on the experience: “The experience of accounting up to now has been the same as a visit to the dentist. You know you have to do it, but it’s just no fun,” Kabashi says, adding, “With Numarics, running a business becomes the easiest thing in the world. Our users do their business, we do the rest.”

Numarics works and learns via intelligent algorithms. Each booking process is broken down from one minute to a few seconds. Documents are scanned with the mobile phone and categorised by setting filters. The app then learns from recurring expenses and income and consequently automates itself more and more, becoming faster and faster.

Kristian Kabashi and Dominique Rey

The founders are committed to creating a digital SME solution that is easy to use and absolutely transparent in terms of costs. Numarics is available for startups from only CHF 149 /month – the package includes all fiduciary services and financial administration for startups and SMEs: document management, accounting, financial statements, tax returns, VAT and payroll. Tax advice is provided via push notifications in the app. In the affiliated Numarics Academy, top experts such as Numarics Board Chairman and Professor for Finance Volker Doberanzke teach business management in free webinars.

If users need specific information, entrepreneurs can book consultations with certified experts at Numarics at the click of a button. Various banking institutions can be connected to the Numarics ecosystem to provide the user with a fully integrated financial experience.

“Expat founders regularly have different needs. They only understand Swiss regulations and tax requirements to a limited extent – also because there are many terms that translate differently. For these entrepreneurs, we want to make Switzerland more open as a start-up country,“ says Rey.

Irish tech companies raise record venture capital funding

Venture capital investment into Irish tech firms in the second quarter this year hit a record €392m, up 7.6% on the same period in 2020 which was itself unprecedented, according to the Irish Venture Capital Association VenturePulse survey published today in association with William Fry. The survey also reports a record half year to €641m, up 8% from €593m in 2020.
“A feature of the results is that international funding, mostly from the US, rose to 70% of the total in the first half, up 55% on the same period last year,” commented Nicola McClafferty, chairperson, Irish Venture Capital Association. “This is a strong endorsement of the high quality of Irish tech companies and reflects a global interest in them.” 
She added, “The worry is that international investment is cyclical and when the tide goes out we will be unable to replicate these funds. We should be looking now to increase the supply of funding from domestic non-traditional VC investors such as pension funds, private investors and corporates as is happening across the UK and other European countries.” 

She stressed that this can be achieved at no cost to the Exchequer and urged the Government as part of Budget 2022 to establish a working group to advise on how best to implement this.

Sarah-Jane Larkin, director general, Irish Venture Capital Association, said that funding for the half year had increased across all deal sizes with the exception of those in the €5-€10m range which fell by 10% to €77.7m.

“In terms of the important start-up and early stage companies there was a fall of 47% in the value of deals in the €1m-€5m range in the second quarter to €21.6m and a 42% drop in the number of deals. We hope this was just a temporary blip as the half year performed well with an increase of 15% in the €1m-€5m range to €91.9m and a rise of 19% in the number of deals from 37 to 44.” 

Deals below €1m, largely comprised of investment in earlier stage companies, rose by 22% in the first half to €26.2m. The number of deals rose by 16% to 64.

Reflecting a trend across Europe there were significant increases in larger investments in the second quarter. Deals over €30m were up 34% to €185m as a result of investments in life sciences diagnostics company, Let’s Get Checked which raised €123m, and fintech company, Wayflyer which raised €62m. Deals in the quarter over €10m also increased, by 4% to €116m.

Life science companies at 43% were the top fund raisers in the first half of 2021 followed by Software (20%); Fintech (12%); ICT (6%) and Deep tech, or companies founded on a scientific discovery, (4%).

How the UK tech scene is driving digital education worldwide #Fintech #Coderoots

To celebrate International Day of Charity (5th September), cross-border digital payments service, WorldRemit, recognises two non-profit organisations that are championing digital education worldwide to inspire others to use their skills for good.

Coderoots, a non-profit founded by Zaira Rasool, Software Engineer at WorldRemit,  is dedicated to creating sustainable solutions to digital access and tech education for young talent in Africa. The charity was recently awarded £5,000 through WorldRemit’s Catherine Wines bursary, which was created in memory of the late co-founder of the fintech company.

Speaking on how she has used her skills in software engineering to create positive change globally, Zaira said: “Coderoots is made up of a diverse group of people with different roles and skill sets across tech, business and nonprofits, but we all share the same value and mission: to create opportunities and develop tech in the places that have least access to basic technology. 

“Skills like coding are a powerful tool for social mobility. I myself was able to take advantage of this after being awarded a fully-funded place to attend my coding bootcamp, which would have otherwise been unaffordable. During COVID, we have seen how essential access to technology is for all aspects of life, and that those working in tech are the privileged few who hold the knowledge to create the change that is needed. It is therefore our responsibility to create that change. 

 

“One thing we really champion at Coderoots is the value of mentors. We provide mentorship to young people and staff in The Gambia, offering them the chance to connect with someone who can help teach them valuable skills that they can use to create long-term change in their communities. All you need to do to be a mentor is have the time to dedicate each week, along with a passion for helping others to learn and grow, so it’s a really accessible way of using your tech skills for good. And for those who are really keen – you can visit The Gambia to support developing exciting new tech ideas we have brewing!” 

 

With years’ of experience working within grassroots organisations, Zaira found a love for coding after attending workshops with codebar, a charity that runs coding workshops for under-represented communities.

 

Having started in London in 2013, codebar now has 28 chapters worldwide, including groups in Nairobi, Shanghai and across America.

Kimberley Cook, Director at codebar, shares how nonprofits and charities are driving positive changes in tech worldwide: “Several years ago ‘tech’ was just considered to be websites. Now it is everywhere you look – cars, hoovers, TVs – even fridges and washing machines.  

“The technology industry is moving at such a fast pace, so the demand for developers is incredibly high. But, the barrier to entry is still hard to overcome. That’s why charities like codebar are allowing adults to access free programming workshops without having to commit to a degree or bootcamp, which are time consuming and costly.   

“Everyone has a skill that a charity or non-profit could benefit from. Whether it’s designing, marketing, illustrating, copywriting or social media. I encourage everyone, regardless of age and profession, to find a cause or charity whose mission and work aligns with their interests,  and get in touch. Start with a simple email outlining your skills and desired level of commitment and soon enough you’ll be on your way to making positive change in the world.”    

To find out more about Coderoots or donate to the mission, please visit: https://www.coderoots.io/donate or to find out more about WorldRemit, visit:  https://www.worldremit.com/en/gb.

Salons ‘Strike’ while the flat iron is hot with cashless tipping technology #Strikepay #salons #Fintech

Strikepay, the Irish FinTech company with a revolutionary cashless tipping and payment solution, today reported a 79% increase in the average value of tips paid to hairdressers, barbers, beauticians and nail technicians using Strikepay over the past six weeks.

Announcing its latest partnership with hair and beauty group, Sugar Culture, Strikepay is now live in all Brown Sugar, Sugar Daddy and Sugar-Coated stores in Ireland, with the popular salon chain just one of the many groups within the industry enabling the roll-out of this revolutionary cashless gratuity solution.

Designed to solve the issue of tips and payments in an increasingly cashless society, Strikepay has been supporting the service industry since its re-opening, enabling customers to thank their service professionals directly by simply tapping the Strikepay tag worn by the individual or scanning their QR code using just their phone.

Service professionals from the award-winning Dylan Bradshaw studio, Cut & Sew group, Sam’s Barbers Waxperts and Nails Inc., are amongst those benefiting from this contactless tipping technology, with over 1,000 service professionals joining Strikepay across Ireland over the last six weeks.

With no app or in-store payment terminal required, the tip is instantly sent through Apple Pay, Google Pay or any saved card.

Commenting on the increase in tip values in the Irish hair and beauty industry, Strikepay co-founder Oli Cavanagh said: “We are having a meaningful impact on the service industry and salon service professionals in Ireland with our data showing a positive increase in the value of tips over the last six weeks. This is significant to people in the industry.

 

“Charles Dowd and I created this technology in response to an every-day need we were experiencing ourselves. We couldn’t tip people anymore, yet we wanted to. Now that we’ve fixed the problem, we’re also getting a lot of thanks from customers who were equally embarrassed that they had no cash to tip anymore. Everyone is a winner.

 

“For businesses, cash management is a real pain, especially when handling tips but Strikepay takes that pain away while empowering employees and increasing their income and job satisfaction – boosting morale.”

 

Mark O’Keefe, owner of Sugar Culture Salon Group and a member of the Irish Hairdresser Federation went on to say: “Our industry was decimated by the pandemic, but our focus now is on recovery and the welfare of our team who have spent an extended period of time out of work. We have a wonderfully loyal and generous clientele across the business, and some of the best artists in the industry on the floor delivering 5-star service to their clients day in day out, so we’re delighted to support those using Strikepay as it allows them to instantly accept cashless contact-free tips from their clients directly.”

Co-founded in 2020 by Irish FinTech entrepreneurs Oli Cavanagh and Charles Dowd in response to the cash free culture accelerated by the pandemic, Strikepay has previously teamed up with popular restaurant chains Camile Thai, Base Pizza, Eddie Rockets and Europe’s largest taxi-hailing company Bolt to enable contactless tipping. Service professionals working across several sectors, including transportation, hospitality, retail, and non-profit have also been trialling the technology over the past six months, with the average value of tips increasing as a result of the patent-pending cashless tipping and payment solution from Strikepay.

Commenting on the potential impact the service would have on the people working in the hair and beauty industry in Ireland, Margaret O’Rourke Doherty, CEO of the Hair and Beauty Industry Confederation said: “The Covid-19 pandemic has seen a rapid transition from cash to card as the go to payment method for customers. The embracing of this new technology, alongside other technology, will now allow salons to cater to these changing trends and provide a better service to our customers. The new technology with Strikepay will further facilitate contactless payments for salons, with the added option for customer tips. While we would like to stress that there is no obligation for customers to leave a tip, tipping culture has been a longstanding feature in the industry in acknowledgement of the standard of work carried out by hair and beauty professionals’’.

Headquartered in Dublin, Strikepay has revolutionised the way we tip, pay and donate to those who serve us, meet us, greet us, carry us, sing for us, bring for us, prepare, repair, and care for us. This innovative Irish owned digital payment platform is also providing services to professionals in Europe, the UK and USA with further information available at www.Strikepay.co.