BOSTON, MA -- (Marketwired) -- 06/19/13 -- PXT Payments, creator and provider of looped in, a fully electronic payment and consumer incentive system, has partnered with Flashnotes, the fastest growing online note-sharing marketplace for college students. Starting this August, looped in and Flashnotes will bring college students better service, automated rewards, discounts, and interactivity between sellers and buyers. PXT Payments was founded in 2004 as a smart debit card payment system, and has been processing transactions daily since 2006.
When purchasing notes, study guides, flash cards, videos, or bundles on flashnotes.com, students will have a new option: to purchase using the looped in app. Once students load funds from their bank, credit, or debit card account into their looped in account, they can pay for their purchases, and take advantage of discounts and rewards available exclusively to looped in customers.
The partnership signals that online marketplaces and mobile payment and reward technologies working together can offer successful experiences for students who need to excel in order to compete.
"We are excited about kicking off our partnership with PXT and looped in," said Mike Matousek, CEO and co-founder of Flashnotes. "looped in has the unique ability to both increase our margins and enable us to reward the buyers and sellers in our hosted marketplace."
For Flashnotes, being paid through the looped in system is less expensive and more efficient. Students simply pay Flashnotes for the notes they buy and Flashnotes pays a competitive flat transaction fee, nothing more. looped in is also used to pay sellers directly, which is less expensive.
Flashnotes and looped in share a mission to use online and mobile technologies to enhance the educational and transactional experience in universities. It's critical that students do well in classes, given the hefty investment. At least 65% of Flashnotes buyers increased their GPA using Flashnotes. Flashnotes is currently comprised of 10% Sellers and 90% buyers. Students paying for Flashnotes with looped in will be further rewarded by receiving special offers at all looped in merchants.
"This is more than getting answers to the test," said Dr. Donald Moorman, former associate professor of surgery at Harvard Medical School, and an investor in Flashnotes. "It's the critical thinking piece that helps students understand different perspectives. Education is about both information acquisition and critical thinking. Without the critical thinking piece, a student cannot do well."
Moorman chose Flashnotes out of the entire note-sharing marketplace. "Flashnotes has built a robust learning environment that can scale and apply to any learning environment," Moorman said.
"We chose to partner with Flashnotes because we are committed to serving college students, enabling merchants to engage and reward them, and in general enrich their educational experience," said John Regan, CEO of PXT Payments. "We help college students as they begin their financial lives, and are learning to understand and manage money. We also let their parents get in the game at a fraction of the traditional cost, when they fund their sons and daughters looped in accounts via our friend-to-friend instant transfers."
Key to Flashnotes' mission is to host a marketplace but give control to its sellers and buyers, without interfering, and enabling flexibility, control, and encouraging creative ideas about how to study and do better in classes. looped in's mission is similar from the payment and rewards perspective: Remove the middleman control, let the marketplace interact and grow the way it wants, and encourage rewards.
Students are embracing both the looped in and Flashnotes platforms. In many cases, student sellers in the Flashnotes marketplace generate enough revenue to replace their part-time jobs, therefore keeping their focus on their studies. Tutors have also chosen the Flashnotes platform to further develop their one-on-one in person method, bringing their services online by posting study guides, video, and flashcards.
"We are excited about adding Flashnotes to our growing family of collegiate partners," said Regan. "Flashnotes is best of breed in its marketplace, offering the most robust online learning environment we've seen."
HOW TO USE LOOPED IN: http://areyoulooped.in/Consumer/index.php/component/content/article?id=3
HOW TO USE FLASHNOTES:
ABOUT looped in and PXT Payments:
looped in is a complete electronic payment system with features that strengthen customer loyalty, reduce risk and eliminate the complexities that come with other electronic payment methods. looped in combines the convenience of a mobile application with the simple transparency of a cash transaction while keeping transaction processing costs under control. As a complete payment system, looped in incorporates features for both consumers and merchants. With looped in, consumers can transact both online and in line with PIN-based security, redeem offers as part of a transaction, send friends deals they're not using and instantly send friends money. Merchants can create and manage promotions without the overhead of third-party loyalty programs. Transactions settle through the Automated Clearing House (ACH). Founded in 2004, PXT Payments has been processing electronic payments transactions since 2006.
Created by students for students, Flashnotes provides an educational arena outside the classroom that allows students to buy and sell high-quality course notes amongst each other that both supplements and complements the university provided materials.
SOCIAL MEDIA FOR LOOPED IN
Hashtags: #loopedin #getloopedin #payeasy #paysafe #areyouloopedin #wearebc
SOCIAL MEDIA FOR FLASHNOTES:
Hashtags: #flashnotes #studyingpays
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Chief of Strategic Business Development
Boston Sales Director
CONTACTS FOR FLASHNOTES
Jessie Goldbas Gutierrez
Director of Engagement
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