Toronto based StrypeBox is out to make life easier for you when you and your friends go out. Say that five of you want to go out and you want to split the bill. Most of the time it’s a bit of a pain. But that’s where StrypeBox comes in. It’s an add-on for online payment solution Stripe that allows people to pay each other.
There two ways to pay using Strypebox:
- Users can collect payments directly from people who enter their phone number or email address into a “box” on the Strypebox site.
- They can create a public “box” to allow people to pay them.
One advantage to StrypeBox is the fact that it’s a web based app that works on any platform. Though apps for specific platforms are coming in the near future. Another advantage is that no card reader is required to get paid. Finally, it uses 256-bit SSL security which means that you don’t have to worry about security at all. Payments are currently limited to Canadian credit cards and banks for now. You can expect to pay 2.9% + $0.45 per successful transaction.
I spoke to Sanjee Sathasivam who is the founder and CEO of StrypeBox and from our conversation, I can tell that he’s working hard to develop StrypeBox into a platform that people will want to use because it meets the needs of those who want to use it. It’s pretty early for this start-up, but I sense that their have something here that will appeal to people. I think they really need to start building a base of users that will allow them to expand both in scope and the countries that they operate in.
The potential is huge for StrypeBox. My advice would be to keep an eye on them as I think you’ll be hearing from them really soon.