The average American carries between three and four credit cards (technically, that number’s around 3.5, but I dare someone to charge their dinner on half of a credit card). More importantly, according to Srikanth Deshpande, “An American household could leave up to $600 on the table in credit card rewards every year” – that’s essentially a week’s worth of lacrosse camp.
Srikanth is CEO and cofounder of Pick2Pay, a mobile/web platform that helps people maximize their credit card rewards and savings for their every purchase, and he wants you to try it out for yourself.
Enticing users toward a new product is often a problem, and one that Pick2Pay can commiserate with. People need to be convinced that the product or service they’re considering is something that will benefit them in some way, but at the same time cost them little in time, money, and effort. And, of course, there is the initial issue of whether people know your product exists.
The company figured that people interested in maximizing their rewards would already be online, actively looking for tips or strategies. So, in addition to an iOS app, Pick2Pay created a Web app that allows users to run a search of retailers and find which credit cards maximize rewards or even offer discounted e-cards.
To bring in their initial users, the company reached out to the blogosphere. “We started [by] talking to bloggers in the travel mileage and points space [to review Pick2Pay],” says Srikanth. Bloggers were also provided with functionality of embedding the web app into their blogs – essentially in the form of a widget.
Still in its early stages of official release, Pick2Pay is continuing to find ways for letting people know about its product. Right now, they’re developing a bookmarklet to be used when users visit online retailers. For example, clicking the bookmarklet while on Best Buy’s website will display the best card to use. They’re also looking into the social media space for social sharing functionality.
Pick2Pay was recently featured in Tech Cocktail’s San Diego Mixer and Startup Showcase. Check out their Web app or download it for iOS.