FeedTribes launches text-payment service for US high school & college students
I was checking out Edward’s news feed when I came across this story about Feed Tribes — a new US company.
FEED Tribes is a Company that is focused on providing the most consumer and merchant friendly payment service in use today. It was initiall developed to provide high school and college students with a cool way to pay their favorite retailers while keeping a handle on their finances. FEED is evolving to a powerful consumer and merchant marketing engine designed to provide its members with a dynamic menu of exclusive promotions and events driven by local FEED merchants.
It’s still in pre-launch phase, yet, I think it’s accurate to say they’ve ‘launched’ as you can sign-up right now.
Here’s how it works:
FEED is a prepaid account that is linked to your cell phone.
To make a purchase, simply text message your PIN number to the FEED 5-digit short code.
A few seconds later you will receive a unique 4-digit numeric transaction code and your up-to-the-second account balance.
Simply give the transaction code to the retailer who enters the code and the amount of sale into their POS terminal.
The terminal authorizes the transaction against your account and returns an approval code to the POS, which prints a receipt.
It’s that simple!
CBS covered the service here and it’s reportedly being well received. You can even see Rod of Feed Tribes feature in the video.
Find out more at www.feedtribes.com/.
