Ohio Startup: Buyvite Adds “Pay Me Back” Social Payment Product

Buyvite,Toledo startup,Ohio startup,startup,startups,startup newsWe’ve been following Brandy Alexander-Wimberly and her Toledo Ohio startup, Buyvite, since last May. Buyvite is a payment tool that makes group buying easy. For example, say you’re having a high school reunion and as a side activity you decide to catch a football game or a few rounds of golf as a group. Buyvite allows all of the group to pay for the excursion without having one person delegated in charge of the money, and risking one, or two people not paying.

Buyvite announced a new product on Monday called “Pay Me Back”. This product works after the transaction is made and is just in time for the holiday gift giving season.

With “Pay Me Back” say you and your family members decided to buy one of your other family members an expensive gift, like an iPad. Once one person makes the initial purchase, Pay Me back can divide the price paid among the others in your family and act as the conduit for the person who “fronted” the money to get paid back easily.

“Pay Me Back” has a variety of great uses.  Alexander-Wimberly explains:

“This product was developed to give our partners an easy way to leverage the power of social commerce. Our social payment badges are designed to embed on product pages to promote the application. After the customer makes their purchase, they now have a seamless and social way of showing their friends what they bought, telling them how much they owe and an easy way to get paid back. It’s a perfect fit for any company focused on selling gifts, vacation rentals, event tickets and even works well for fantasy sports leagues and donations.”

Early adopters of “Pay Me Back” include Tiesta Tea, Pledge Music, Tony Packo’s, Swank Martini and payment processing provider E2E Payments of Lombard, IL. E2E President Brad Bialas explains the advantage of offering “Pay Me Back” to his customer base. “Our ecommerce clients are looking for new ways to reach their social audience. Consumers are already locked in to the concept of group purchases and peer-to-peer payments. Buyvite’s “Pay Me Back” product gives our clients a fresh and social way to promote a “crowd funding” model via their websites and ecommerce carts and it’s a proven way to help elevate traditionally group focused purchases like gifts, team costs or event tickets.”

Linkage:

Check out Buyvite here

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