PayLeap Attempts To Woo Startups With New Payment Referral Kickback
Summary
Whether it’s marketing spiel or not, PayLeap claims to have “set aside” $1 million in funding to cover developers upfront, as well as a residual stream back from referred businesses that have active payments with the company. Here’s how it works: A lot of web and app developers refer their customers to some of the larger payment gateway companies, but they don’t get anything back for doing so. PayLeap program (P4) plans to collects these ongoing residuals through a referral relationship. PayPal, Google Checkout, Stripe and Square are also competitive but often involve additional fees. Of course, it’s not just commerce, but could apply to mobile, healthcare, bill presentment, inventory management systems, and pretty much anywhere electronic payments are needed, according to Rod Katzfey, COO.
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