If contactless payment adoption was coming before the current global pandemic, our current health crisis has only sped up the adoption curve. Founder Derek Canton built paerpay to help revolutionize contactless payments , now they are poised to help bring their contactless infrastructure to payment terminals everywhere.
Payments infrastructure is a tricky, but highly scalable product to build. Traditional payment terminals have integrated infrastructure to process credit cards. But there are additional technical requirements to process digital payments and paerpay’s platform brings that infrastructure to restaurants payment terminals that previously could not support contactless payments.
By sitting inside the restaurant POS to enable the contactless payment solution, paerpay will be in a unique position at the forefront of a new wave of product growth which is lead by their fintech arm. Using the data that they gather from merchants and payments will enable them to help build SaaS service and products on top of their existing platform to continue to solve for their customers needs. One of paerpay’s earliest features enables guests to split a check at a restaurant tight on their phones.
While we aren’t sure what paerpay has in store from us next, they have come through MassChallenge and the DCU Fintech Innovation Center and they just announced an exciting new partnership with Dining Alliance, the largest Group Purchase Organization for restaurants in North America. We are excited to see what the future has in store for Derek Canton and the paerpay team.