IVPN is introducing NO COST PAYMENT PROCESSING for merchant branded digital gifts for general merchandise items and mobile debit payment acceptance for in-store lottery purchases.
How It Works
iVPN charges consumers 50 cents for a merchant branded digital mobile gift and 30 cents per transaction for BuyLottoNow, its branded cashless mobile payment for lottery products.
To use the service, a consumer goes to the merchant’s website, or the app offered by iVPN. When inside the store, they share the phone’s screen, which displays a bar code, for the merchant to scan to complete the payment. IVPN is utilizing the Conexxus Standards to seamlessly integrate into Merchants’ POS systems — specifically Verifone Commander, Gilbarco Passport and Radiant terminals. iVPN is utilizing payment technology that has been deployed in over 25,000 c-stores over the last 15 years.
iVPN provides the retailer their own branded app for the gift program in the Apple and Google stores AT NO COST.
Utilizing this technology, iVPN allows for little to no operating costs, no gift card stock costs and ZERO transaction fees.
iVPN headed by Joe Randazza, whose National Payment Card Association morphed into ZIPLINE, pioneered merchant branded debit cards and mobile payment with processing fees below what the federal government mandated through the Dodd-Frank Act, and is now back in the market to drive c-store industry profitability.
“If a merchant looks at what their annual cost is, they can see how we can save them hundreds of thousands if not millions of dollars to their bottom line,” Randazza said.
Further, Randazza said, the iDigital Gifts and BuyLottoNow platform captures the gift giver’s and gift recipient’s name, email address, and cell number, which avails the retailer to a treasure trove of loyalty program information that they can use for promotional activity to drive in-store traffic.
On top of iVPN, Randazza is also rolling out BuyLottoNow, a cashless mobile payment app for purchasing lottery products. Randazza said that Lottery as a sector in c-stores are faced with an enormous loss of in-store traffic by states and private companies operating online iLottery in direct competition to merchants.
Operating independent of state lotteries or their vendors, consumers can make a cashless payment to purchase lottery products with their mobile phone.
Further, to drive in-store traffic, a consumer can send a friend or family member the low-cost gift of lottery for birthdays, holidays, or any occasion with a digital gift of $10, $20 or $30 wishing them a WINNING Day.
Through its BuyLottoNow acceptance brand, iVPN is making Lottery a winning loyalty program with no cost email engagement to drive traffic back to the store.
“If you operate 20 stores, this partnership can increase your profitability a couple hundred thousand dollars a year,” Randazza said. “Plus it will enable you to stop state governments from taking core lottery customers out of your stores. When those customers start making lottery purchases on apps controlled by state governments, they are not coming into your stores, which also means you are losing opportunities to sell them foodservice, tobacco and beverages. They become lost customers, so now your state government, which is taxing you to death on fuel and tobacco, and raising the minimum wage to increase your operating cost, is now also one of your competitors with little to no overhead. We can’t let them take sales out of the channel and out of your stores.”