For Immediate Release
Contacts: Alan T. Brown (954) 662-2526
Edward Donato (954) 401-1443
MOOCHO MOBILE PAYMENT APP BRINGS BACK ERA OF
“PUTTING IT ON YOUR TAB” AT THE GENERAL STORE
- - - -
Moocho Open Tab Members Get Discounts and Save Cash
At Seven Major Universities Around the United States
San Juan Capistrano, Calif. – May 18, 2012 - Moocho has introduced a seamless mobile payment app at seven major universities. The program also gives students access to exclusive discounts on everyday purchases.
With Moocho Open Tab technology, students can make purchases at Moocho merchants by just using their name. It’s like the old days when it was common to say, “Put it on my tab” at the general store. This makes a Moocho Open Tab purchase simple, convenient and fast. Plus with Moocho Open Tab students accumulate loyalty rewards with each purchase.
Participating universities are:
• Colorado State University
• Ohio State University
• University of California, Berkeley
• University of Pittsburgh
• University of Virginia
• University of Wisconsin – Madison.
• West Virginia University
At each school, students receive real time custom offers from merchants, tailored by time of day or customer preferences.
“With the mobile payment market exploding, and college students spending at more than $70 billion a year at businesses surrounding the campus, we saw a natural fit. We did a short beta test last semester for Moocho Open Tab,” said Matt Levenson, founder and CEO of Moocho. “As a result of our test, we signed up more than 60,000 students and 230 merchants.”
Students sign up for a free Moocho Open Tab account at moocho.com by linking a credit or debit card to their account. Each student immediately receives $1 to $5 free credit at every participating merchant (more than $20 total) and access to exclusive discounts. Plus, every purchase earns more credit to use next time.
And students who link their Facebook account to Moocho Open Tab earn 25 percent more free credit and rewards.
Moocho has also introduced “Parent Mooch.” With this program parents automatically pay for food and groceries at any participating Moocho merchant.
For Moocho Merchants, the “Open Tab” program is measurable, risk free and pay-per-action. The frictionless redemption program drives new customer acquisition and repeat business. A closed loop program for merchants, Moocho Open Tab provides detailed data to merchants to help them optimize their business. Moocho’s recommendation engine also helps merchants tailor offers by time of day or to students who have not visited within a specific timeframe.
“For merchants the Moocho Open Tab program optimizes their business down to the customer level,” said Levenson, who is also the founding COO of StubHub.
Moocho’s opt-in social sharing automatically posts on the student’s Facebook page when they make a purchase (ex. “Joe Student just mooched at McDonald’s”), allowing merchants to benefit from powerful word-of-mouth advertising to all of the student’s friends.
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