September 10, 2011
Today’s consumer demands convenience, instant gratification, and security, while business owners are looking for lower margins and brand loyalty. Enter SeQR Pay, which lets manufacturers create direct-to-consumer distribution channels that increase revenue and profits.
SeQR Pay’s goal is to revolutionize and monetize the manufacturing industry and change the way consumers buy. Founder Bryan Colligan certainly picked a market to enter that has huge potential – there is a 48% usage rate for smartphones in the US alone, and that number is growing.
There is some stiff competition out there, though, beginning with PayPal, the undisputed heavyweight player in the mobile payment space. However, PayPal is a third party payment solution, while SeQR Pay can be set up as a native secured payment solution through a branded app. Other competitors include Mobio, which does not incorporate a direct mobile payment, and Square, which requires an onsite sales person to swipe your credit card.
The SeQR team was a featured startup at our Tech Cocktail Chicago Mobile Mixer event this past Thursday night. If they take off, pretty soon you’ll no longer have to go to the store or your computer to quickly buy stuff. What do you think? Do they have the potential to become something huge? Leave a comment below.
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