A new startup, PaidPiper, is debuting at the CTIA Wireless show this week. It has been creating a mobile money transfer system that seems to work best in developed economies with dominant credit card infrastructure. PaidPiper is working with MasterCard and is also in talks with third parties. It should be available this summer.
Basically, PaidPiper places credit card numbers at the heart of its application. It can give retailers and small businesses the opportunity to give consumer incentives by issuing unique MasterCard numbers. Consumers can also ask for incentives from companies in exchange for actions such as filling out a survey. PaidPiper hopes to have its app, Okd, available for free on Apple by the middle of the summer. The app could also be used by consumers to issue card numbers themselves. A parent could give their child a certain amount of money and could even restrict where it is spent.
When NFC, near field computing, becomes more available, PaidPiper will be streamlined to meet the changing needs of the customer.